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Fumed Silica Market

Fumed Silica Market

Fumed Silica Market Growth to Spur on the Back of Rising Demand in the Paints, Coatings & Sealants Sector during 2021-2031

Fumed Silica Market
FACT2301MR

Market Snapshot:

Revenues in the application segment of the fumed silica market grew at approximately 5% year-over-year in 2021. Demand of cosmetics and personal care segment increased 5.3% between 2020 and 2021, according to Fact.MR’s recently published report.

Growing demand for fumed silica in the pharmaceutical industry and paints and coatings segment is likely to project the market expansion for fumed silica throughout the forecast period 2021-2031.

Key Points Covered in Fumed Silica Market Survey:

  • Market Estimates and Forecasts 2016-2031
  • Key drivers and restraints shaping market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Fumed Silica and how to navigate
  • Recommendation on key winning strategies.

Consumption Analysis of Fumed Silica from 2016-2020 Vs Future Outlook for 2021 to 2031.

The marketplace for fumed silica flourished at a CAGR of over 4% with a projected value exceeding US$ 1 Bn by the end of the historic period 2016-2021. Swelling demand for fumed silica in the pharmaceutical industry opened up significant applications in the aforementioned period.

The evolving cosmetics and personal care segment in the East and South Asian regions has strengthened fumed silica demand, as it is generally used in cosmetic formulations to prevent light reflection.

Simultaneously, the silicone rubber sector is expanding impressively at the rate of ~7% offering lucrative growth opportunities and reinforces the demand for fumed silica across the globe. Fact.MR projects the market worth for fumed silica to top US$ 1.6 Bn with a CAGR of above 5% throughout the 2021-2031 forecast period.

How are Fumed Silica Applications Rising in Paints & Coatings and Drug Manufacturing?

The augmented demand in the paints, coatings & sealants business is expected to drive the demand for fumed silica across the globe as it also delivers reinforcement and mechanic properties to sealants.

Furthermore, the cost-effectiveness of the product over precipitated silica is another factor expected to propel the growth of the target market. Besides, snowballing innovations in the manufacturing of drugs is boosting demand.

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Why Reducing Dependence on Conventional Metals is Spurring Fumed Silica Demand?

Prominent fumed silica players in the fumed silica market are gaining ground across key industrial applications including adhesives, paintings and coating etc. They are swiftly replacing conventional metals across various formulations.

U.S. tariffs on Chinese steel and aluminium products have aided a tectonic shift from metallic to composite or plastic components in motor vehicle engineering, positively impacting the acceptance for adhesives and fashioning manufactured from fumed silica.

Challenges to Fumed Silica Industry Growth

Threat of numerous health hazards to the workers of different end use industries as well as to the people using the product in which fumed silica is restraining growth of fumed silica demand.

Fumed silica is known to cause health problems, such as eye irritation and damage amid continuous exposure. Hence manufacturers are finding solutions to eliminate the odds of any danger.

Additionally, increasing tilt towards eco-friendly paints and stringent government regulations on paint composition might impede demand of fumed silica across the paints and coatings industry.

An Adaptive Approach to Modern-day Research Needs

Which are Some Lucrative Growth Opportunities for Fumed Silica Technology?

The growth of the fumed silica market is attributed to the increase in demand for fumed silica for numerous applications, particularly for silicone elastomers which is used in High-Temperature Vulcanized (HTV) silicone rubber to improve reinforcement, dispersibility, sag resistance, surface quality, and service life. 

Rising disposable incomes, shifting of manufacturing facilities from developed regions, such as North America and Europe, and rapidly growing industrial sectors are likely to offer lucrative opportunities for end-use industries like cosmetics and healthcare.

What Are Some Key Trends in the Market?

Application of precipitated silica in personal care is trending with the cosmetics industry leveraging its usage to the fullest. Its unique properties such as anti-caking, UV protection, and dispersion are rendering fumed silica highly useful. However, growing adoption of eco-friendly products have stimulated fumed silica demand across several end use industries.

According to the American Coatings Association, with ongoing scrutiny and sensitivity in the coatings industry to mitigate workplace hazards, greater emphasis is placed on suitable amorphous technology to replace crystalline silica technology. This trend is likely to improve the functionality of coatings in upcoming years.

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Country-wise Analysis:

How is the U.S Experiencing High Demand for Fumed Silica?

The demand for high performance silicon rubber is surging, especially with rapid growth of the automotive sector. Hence, fumed silica is used as a reinforcement filler in tire rubber applications in order to improve tire performance. Hence, the U.S fumed silica industry is expected to surpass nearly US$ 3 Bn by the end of 2031.

On the other hand, growing demand for anti-aging products and E-commerce channel influencing sales, helping U.S capture the largest share of fumed silica market. The presence of key manufacturers like Thomasnet, Brenntag in the industry is fuelling demand across key end-use industries such as paints and coatings, cosmetics and personal care.

Why is Fumed Silica Market Flourishing in China?

China is likely to experience high demand for fumed silica throughout the forecast period. According to the International Monetary Fund (IMF), China is among the fastest-growing economies, generating heavy demand for construction and infrastructure development projects. This will boost the demand for fumed silica across the region.

On the other hand, booming demand for the healthcare and personal care industry will also garner the demand for fumed silica in the end-use market. 

Category-wise insights:

Why are Paints and Coatings the Most Lucrative Application of Fumed Silica?

Consumption of paints & coatings for industrial and decorative applications will 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, expanding at above 5% CAGR until 2031.

Why is Hydrophilic Fumed Silica Gaining High Traction?

Hydrophilic fumed silica held around 60% revenue in 2020 and will thrive with its preference as a glidant for food and industrial powders. It is one of the most widely used grades of fumed silica.

Due to its corrosion-resistant properties and effective performance benefits for various applications like adhesives and sealants, agriculture and lawn care, hydrophilic fumed silica is gaining traction globally.

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advances for cancer screening, mergers, and acquisitions.   

  • In June 2021, key player Evonik Industries AG has signed a purchase agreement to acquire the privately-owned technology-driven company Infinitec Activos, with closing expected by July end.
  • In May 2021, Cabot Oil & Gas Corp. plans to merge with Cimarex Energy in an all-stock deal that values the combined company at $17 Bn. The transaction is set to close in the fourth quarter. The combined company will operate under a new name and will be headquartered in Houston.

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

 

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Brazil
  • Mexico
  • Argentina
  • GCC
  • South Africa

Key Market Segments Covered

  • Product Type
  • Application
  • Region

Key Companies Profiled

 

  • Evonik Industries AG
  • Cabot Corp.
  • Dow Chemicals
  • Wacker Chemie AG
  • Tokuyama Corporation
  • OCI Company Ltd.
  • Orisil
  • Kemitura A/S 

Pricing

Available upon Request

Key Segments Covered:

  • Product Type

    • Hydrophilic Fumed Silica
    • Hydrophobic Fumed Silica
  • Application

    • Fumed Silica for Silicone Rubber
    • Fumed Silica for Paints & Coatings
    • Fumed Silica for Unsaturated Polyester Resins
    • Fumed Silica for Adhesives & Sealants
    • Fumed Silica for Healthcare & Personal Care
    • Others

- FAQs -

As of 2021, sales of fumed silica surpassed US$ 1 Bn

From 2016 to 2020, sales of fumed silica expanded at over 4% CAGR

From 2021 to 2031, demand for fumed silica is expected to surge at approximately 5% CAGR

Ageing and increased health awareness is likely to open new doors for Fumed Silica across key industries

Demand for Fumed Silica in the U.S is expected to grow at a CAGR of around 6% until 2031, surpassing US$ 3 Bn

Rising construction activities and flourishing healthcare and personal care sectors are likely to enhance fused silica usage in China, capturing over 50% demand

Evonik Industries AG, Cabot Corp, Dow chemicals, Wacker Chemie AG, Tokuyama Corporation etc are the prominent manufacturers of fumed silica market.

Paints and coatings will likely yield substantial growth opportunities, expanding at over 5% CAGR until 2031

Hydrophilic fumed silica is expected to remain popular, generating over 3/5th of overall demand

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