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Fumed Silica Market to Grow at a CAGR of 7.1% by 2022: MarketsandMarkets

Published on 2017-07-27. Author : SpecialChem

The report "Fumed Silica Market by Type (Hydrophilic, Hydrophobic), Application (Paints & Coatings and Inks, Adhesives & Sealants, Pharmaceuticals, UPR, Gel Batteries, Lighting), and Region (North America, Asia-Pacific, Europe) - Global Forecast to 2022", The fumed silica market is projected to reach USD 2.26 Billion by 2022, at a CAGR of 7.1% from 2017 to 2022.

Fumed Silica Market to Grow at a CAGR of 7.1%
Fumed Silica Market to Grow at a CAGR of 7.1%

Fumed Silica Industries

The use of fumed silica has increased in paints & coatings and inks, adhesives & sealants, and UPR applications, owing to the growth of major end-use industries such as construction and automobiles in Asia-Pacific and the Middle East & Africa. In addition, the high demand for fumed silica is mainly attributed to its efficiency and low maintenance cost as compared to precipitated silica.

Largest Share of Fumed Silica Market

The hydrophilic fumed silica segment is estimated to be the largest type segment of the fumed silica market both, in terms of volume and value. This growth is mainly attributed to the low price of hydrophilic fumed silica and its usage across various applications, such as paints & coatings and inks, silicone rubber, and UPR. Furthermore, the treated fumed silica also known as hydrophobic silica is water repellent and thus, cannot be dispersed in water. Hydrophobic fumed silica encompasses unique properties such as low moisture adsorption and improved rheological behavior.

The pharmaceuticals application segment is expected to register the highest growth in terms of volume during the forecast period. Fumed silica is used as an excipient in the pharmaceutical industry. Fumed silica is also used for coating larger excipients and active ingredient particles.

Asia-Pacific is Projected to Grow

Asia-Pacific is the largest market for fumed silica, in terms of value, followed by North America and Europe. Various end-use industries such as construction and automobiles represent the bulk of the demand for fumed silica in the Asia-Pacific region. Moreover, rising awareness regarding the benefits of fumed silica has further contributed to the high demand for fumed silica in Asia-Pacific countries, such as China, Japan, and India.

Key Players in the Fumed Silica Market

Key players operating in the fumed silica market include Evonik Industries (Germany), Cabot Corporation (U.S.), Wacker Chemie AG (Germany), Tokuyama Corporation (Japan), Cargill, Inc. (U.S.), China National Bluestar (Group) Co., Ltd. (China), Applied Material Solutions, Inc. (U.S.), Chifeng Shengsen Silicon Technology Development Co., Ltd. (China), Kemitura A/S (Denmark), and Orisil (Ukraine).

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Source: MarketsandMarkets
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