Rising Demand from Paints & Coatings, Sustains Growth of Fumed Silica
Fumed silica is widely rated as a universal thickening agent and an anticaking agent. Paints & coatings is one of the primary application areas for fumed silica as it accounts for a significant chunk of fumed silica consumption. Global fumed silica market is forecast to grow at a CAGR of around 5%, of which, demand for fumed silica from paint & coating applications is anticipated to witness highest growth during the forecast period. Consumption of paints & coatings for industrial and decorative applications will also receive an uptick in coming years. Demand is heavily backed by the trend of providing industrial equipment and products free from corrosion, scratches and abrasions. Thus, anticipated increase in consumption of paints and coatings is expected to bolster growth of fumed silica market during the forecast period.
Silicone Rubbers to be in Forefront, As Demand from Industrial Clusters Soars
Fumed silica is used as an anti-sedimentation agent in production of silicone rubbers. This silicone rubber is widely applied in several sectors, including electronics, construction, adhesives and sealants, and others. For instance, in automotive sector, it helps to improve fuel efficiency and reduce emissions. Increased consumption of silicone rubber in various end-use sectors is likely to propel demand growth of fumed silica over the assessment period.
Greener Alternatives Gain Traction
Prominent manufacturers of fumed silica across the globe prefer conventional production methods, i.e. flame pyrolysis of silicon tetrachloride with hydrogen & oxygen. These production processes are capital intensive and also require relatively more energy for production. SioTex Corporation, a U.S. based firm, developed a greener alternative for production of fumed silica, in which rice hulls were used as the raw material. This process requires less energy in comparison with conventional processes and has no involvement of toxic reactants. Fumed silica produced from such a process has the potential to replace the traditionally produced fumed silica, posing a significant challenge for the fumed silica market and in turn for fumed silica manufacturers
North America Dominates Demand, While China to Show Prolific Growth
In current scenario, North America holds around one-third of overall market share in global fumed silica market. Consumption of fumed silica in North America is backed mainly from mature end use market such as personal care, automotive and paint & coatings. However, China is forecast to be fastest growing among all other regions. As per Fact.MR analysis, China is estimated to hold more than one-third of the global market value share in 2029, growing at a CAGR of over 8%. Furthermore, demand for fumed silica from India is growing at a lucrative rate, attributed to growth of personal care, automotive and other sectors.
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Prominent Companies Eyeing Capacity Expansion, In Sync with Rise in Global Demand
Prominent players with an established market presence in global fumed silica market are Evonik Industries AG, Cabot Corp, Dow chemicals, Wacker Chemie AG, Tokuyama Corporation, OCI Company Ltd., Orisil, and Kemitura A/S. Global fumed silica market is highly consolidated in nature, with top four players accounting for over 85% of revenue share in 2019. Growth in end use sector has created an upsurge in demand for fumed silica owing to which fumed silica manufacturers are focused on the expansion of production capacity in their fumed silica manufacturing facilities.
- For instance, in June 2019, Evonik has started up its new plant complex in Antwerp, Belgium for production of fumed silica, thereby increasing its production capacity of fumed silica
- Similarly, in September 2017, Cabot started the construction of its fumed silica plant in western Kentucky in collaboration with Dow Chemical plant which is expected to be operational by 2020.
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Fumed Silica Market- Scope of the Report
The recent study by Fact.MR on fumed silica market offers a 10-year forecast between 2019 and 2029. The study analyzes crucial trends that are currently determining the growth of fumed silica market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of fumed silica. The study also provides dynamics that are responsible for influencing the future status of the fumed silica market over the forecast period.
A detailed assessment of fumed silica value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report. A list of prominent companies operating in the fumed silica market along with their product portfolio enhances the reliability of this comprehensive research study.
Fumed Silica Market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in fumed silica market across the globe.
A comprehensive estimate on fumed silica market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of fumed silica during the forecast period. Price point comparison by region with global average price is also considered in the study.
Fumed Silica Market Segmentation
Fact.MR has studied the fumed silica market with detailed segmentation on the basis product type, application and key regions.
|
Product Type |
Application |
Region |
|
Hydrophilic |
Silicone Rubber |
North America |
|
Paints & Coatings |
Latin America, Middle East & Africa (LAMEA) |
|
|
Unsaturated Polyester Resins |
Europe |
|
|
Adhesives & Sealants |
South East Asia & Pacific |
|
|
Healthcare & Personal Care |
China |
|
|
Others |
India |
|
|
Japan |
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
Fumed Silica Market: Analysis on Market Size Evaluation
Fumed silica market has been analyzed for each market segment, in terms of volume (Million tons) and value (US$ Mn).
Market estimates at global and regional levels for fumed silica is available in terms of “US$ Mn” for value and in “Million tons” for volume. A Y-o-Y growth contrast on prominent fumed silica market segments, along with market attractiveness evaluation has been incorporated in the report. Furthermore, the absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve along with identifying potential resources, considering sales and distribution perspective in the global fumed silica market.
Fumed Silica Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the fumed silica report, which have helped to deliver projection on the regional markets. These chapters include the regional macros (political economic, and business environment outlook), which are expected to have a momentous influence on the growth of fumed silica market during the forecast period.
Country-specific valuation on demand for fumed silica has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
Fumed Silica Market: In-Depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of fumed silica along with their detailed profiles. Essential and up-to-date data information related to the market performers, who are principally engaged in the production of the fumed silica, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which includes essentials such as product portfolio, key strategies along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through the matrix for all the prominent players thus providing the readers with actionable insights, which helps in thoughtfully presenting market status, and predicting the competition level in fumed silica market. Prominent companies operating in the global fumed silica market include Wacker Chemie AG, Tokuyama Corporation, Cabot Corporation, Evonik Industries, OCI Company Ltd, Kemitura A/S and Henan Xunyu Chemical Co. Ltd.
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Fumed Silica Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029