Selbyville, Delaware, March 09, 2021 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the Fumed Silica Market was estimated at $1.59 billion in 2020 and is slated to surpass $2.3 billion by 2026, registering a CAGR of 5.4% from 2021 to 2027. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers & opportunities, top investment avenues, competitive scenarios, market estimations & size.
Fumed silica is a white powder formed during the manufacturing of elemental silicon. The product’s ability to act as a thixotropic agent, rheology modifier, viscosity controller, thickening agent, and anti-settling agent makes it an attractive option for various manufacturing companies. Moreover, it can also boost the operating efficiency of production processes involved in the pharmaceutical, cosmetics, silicone elastomers, adhesives & sealants, and paints & coatings sectors. Fumed silica improves and maintains the quality of products manufactured in the above-mentioned sectors. Such beneficial properties will result in soaring consumption of fumed silica during the forecast timespan.
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Hydrophobic fumed silica market share will witness around 6% CAGR through 2027. The product has higher price as compared to hydrophilic and the price difference between both the silica types is mainly due to the additional processing required for hydrophobic fumed silicas. Hydrophobic fumed silica is a treated grade of fumed silica manufactured by the reaction of reactive silanes such as hexamethyldisilazane or chlorosilanes with hydrophilic silica. It has water-repellent properties due to the presence of short-chain or long-chain organic groups that are anchored onto the surface of a fumed silica. It is used in silicone reinforcing without thickening polar solvents & resins such as isocyanates, alcohols, epoxies, and urethanes.
Silicone elastomer will hold significant share in fumed silica market size. It is used in High-Temperature Vulcanized (HTV) silicone rubber to improve reinforcement, dispersibility, sag resistance, surface quality, and service life. During the production of silicone elastomers, fumed silica is added to increase toughness, tensile strength & modulus, elongation, and hardness. In addition, it aids in improving heat stability, flame retardancy, extrudability, and transparency.
North America is expected to exceed USD 520 million by 2027. A positive outlook in pharmaceutical sector will positively influence the industry growth. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), North America captured almost 50% of the global pharmaceutical sector. The regional pharmaceutical growth is characterized by a high GDP and per capita expenditure on healthcare. Additionally, access to high-value drugs, research & development activities, and favorable government policies will spur the fumed silica market segment penetration.
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The Middle East & Africa is also expected to hold sizeable growth. The region will be supported by growing infrastructure development projects. The rising need for infrastructure developments in conjunction with supportive government policies will boost construction activities in the future. Major projects including Al Maktoum International Airport, Jubail II Industrial City Project, and Dubai complex will reflect the strong growth of fumed silica sales in the region as the product is widely used in many construction products.
Strategic mergers and acquisitions by manufacturers to increase regional presence. Major fumed silica industry players include Evonik Industries, Cabot Corporation, Wacker Chemie AG., OCI Company Ltd. and Tokuyama Corporation.
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