Dublin, Dec. 19, 2022 (GLOBE NEWSWIRE) -- The "Colloidal Silica Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 By Product Type (Alkaline Colloidal Silica, Acidic Colloidal Silica, Modified Colloidal Silica, Ordinary Colloidal Silica), By Application, By End User Industry, By Region" report has been added to ResearchAndMarkets.com's offering.
The global colloidal silica market stood at USD 801.74 million in 2021 and is expected to grow at a CAGR of 5.07% during the forecast period on account of increasing demand from various end user industries, especially the semi-conductor industry.
Colloidal silica is required by different industries, such as in casting & electronic industries, as a polishing agent, in healthcare industry as drugs and medicine, for treatment agents, and in paper industry, for improving the quality of products in paint industries.
Need for Advancement in Manufacturing Process
In order to meet the demand for colloidal silica created by different end user industries, it is required to make changes in the existing manufacturing process of colloidal silica. Additionally, new innovations and advancements are also required in terms of machinery and equipment which is used to produce colloidal silica. All electronics goods need colloidal silica as a polishing agent or in different ways. Hence, the consumption of colloidal silica in enterprises will be directly impacted. So, the colloidal silica market is expected to grow at an impressive rate.
Colloidal silica can be used as surface toner and cleaner in paper industries; in the acrylic industry it is used as a supplement for polish, coating, and paints to enhance its weather and abrasion resistance, an extra add-on in cosmetics and food industries, the active chemical ingredient in medicines such as paracetamol, and in automobile industry for better resistance, for making green tires and many more. Government policies for green tires will help colloidal silica capture more markets. The intensive and vast use of colloidal silica is expected to make it a highly demanded product in industries during the forecast period.
Increasing investment in R&D
Increasing R&D to find new uses for silica-based products makes this more attractive. Recently, many companies have set up their R&D plants around the globe to have an edge over other players operating in the industry and also to improve their positioning in the market.
In January, 2022, Innovative Chemical Technologies Inc. begun production of specialty colloidal silica sols at their Augusta, Georgia manufacturing facility. This manufacturing unit will help market segments such as paper, coating and paints, industrial and architectural coating, foundry& casting catalyst, and many other industries.
In November 2021, Nouryon announced a new manufacturing facility in Green Bay, Wisconsin, U.S.A. This facility is planned to meet the requirement of the construction and packaging industries.
Market Segmentation
The global colloidal silica market is segmented based on product type, application, end user industry, region and company. Based on product type, the market can be categorized into alkaline colloidal silica, acidic colloidal silica, modified colloidal silica, and ordinary colloidal silica. Based on application, market can be segmented into precision investment casting, catalysts, refractories, batteries, and others. Based on end user industry, market is segmented into electronics & semiconductors, paints & coatings, construction, pulp & paper, pharmaceuticals, and automotive.
Report Scope:
In this report, global colloidal silica market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Colloidal Silica Market, By Product Type:
- Alkaline Colloidal Silica
- Acidic Colloidal Silica
- Modified Colloidal Silica
- Ordinary Colloidal Silica
Colloidal Silica Market, By Application:
- Precision Investment Casting
- Catalysts
- Refractories
- Batteries
- Others
Colloidal Silica Market, By End User Industry:
- Electronics & Semiconductors
- Paints & Coatings
- Construction
- Pulp & Paper
- Pharmaceuticals
- Automotive
- Others
Colloidal Silica Market, By Region:
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- South America
- Brazil
- Argentina
- Colombia
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Colloidal Silica Market
5. Impact of Russia-Ukraine War on Global Colloidal Silica Market
6. Voice of Customer
7. Global Colloidal Silica Market Outlook
8. Asia-Pacific Colloidal Silica Market Outlook
9. North America Colloidal Silica Market Outlook
10. Europe Colloidal Silica Market Outlook
11. Middle East and Africa Colloidal Silica Market Outlook
12. South America Colloidal Silica Market Outlook
13. Market Dynamics
14. Market Trends & Developments
15. Competitive Landscape
16. Strategic Recommendations
17. About the Publisher & Disclaimer
Companies Mentioned
- W. R. Grace & Co.-Conn
- Akzo Nobel N.V (Nouryon Holding BV)
- Merck KGaA
- ADEKA Corporation
- Allied High-Tech Products, Inc.
- Nissan Chemical Corporation
- The Dow Chemical Company
- Cabot Corporation
- Evonik Industries AG
- Fuso Chemical Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/t0yctb
