The global Fumed Silica Market is estimated to be valued at US$ 1.23 Bn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fumed silica, also known as pyrogenic silica, is a highly branched, three-dimensional spherical structure consisting of atmospherically generated amorphous silica. It is used as a reinforcing and thickening additive in sealants and adhesives owing to its large surface area and light weight.
Market key trends:
The rapidly growing paints & coatings industry across the globe is the major factor driving growth of the fumed silica market. Paints & coatings make significant use of fumed silica as reinforcing and thickening additive for achieving better gloss retention, water resistance, corrosion resistance and durability of the coatings. Additionally, growing demand from personal care industry is another major trend. Fumed silica is used as an abrasive agent and thickening agent in various personal care products such as toothpastes, shaving gels, skin care creams owing to its water retaining and oil absorbing properties.
Segment Analysis
Fumed Silica is segmented into hydrophilic and hydrophobic sub segments. Hydrophilic fumed silica dominates the market and accounts for over 70% of overall demand. It is used in industries like paints & coatings, unsaturated polyester resins, silicone rubber and adhesives & sealants due to ability to absorb water, reduce surface tension and enhance viscosity.
Key Takeaways
The Global Fumed Silica Market Size is expected to witness high growth, exhibiting CAGR of 5.6% over the forecast period, due to increasing demand from paints & coatings industry. The paints & coatings is the largest application segment for fumed silica and growing construction and automotive industries are majorly fueling the market growth.
Regional analysis Asia Pacific accounts for largest market share currently and is expected to remain the fastest growing region during the forecast period. Countries like China, Japan, and India are major consumers of fumed silica in the region owing to thriving automotive, construction and paints & coatings industries.
Key players operating in the Fumed Silica market are Applied Material Solutions Inc., Cabot Corporation, Chifeng Shengsen Silicon Technology Development Co. Ltd, China-Henan Huamei Chemical Co. Ltd, Dalian, Fuchang Chemical Co. Ltd, Dongyue Group Co. Ltd, Evonik Industries, Gelest Inc., Heraeus Holding, Kemitura AS, OCI Company Ltd, Tokuyama Corporation, and Wacker Chemie AG. The market is moderately consolidated with top players accounting for over 60% of the total market share.
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