Rockville, April 17, 2023 (GLOBE NEWSWIRE) -- As per this latest study by Fact.MR, a provider of market research and competitive intelligence, the global silicon dioxide market is expected to garner US$ 22.5 billion by 2033, expanding at a noteworthy CAGR of 6.6% from 2023 to 2033.
The most prevalent form of silicon oxide, or SiO2, which occurs widely throughout nature and has the organic component with the formula SiO2, is quartz. Plants, animals, and rocks are all natural sources of silicon dioxide; silica makes up around 59% of the earth's crust. Silicon dioxide added to food acts as an anticaking agent and prevents clumping. Silicon dioxide is used as an insulating material and additive in both the pharmaceutical and operational industries.
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| Silicon Dioxide Market Scope | |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2033 |
| Growth momentum & CAGR | Accelerate at a CAGR of 6.6 % |
| Market growth 2023-2033 | US$ 22.5 Billion |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Evonik Industries AG, Gelest Inc., Merck KGaA, Metallic Minerals, Tosoh Silica Corporation, Cabot Corporation, American Elements, Wacker Chemie AG, Topken Materials |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
It is a common practice among companies that build structures. Electrical motor wiring manufacturers for electronic devices frequently makes use of high-quality silicon dioxide. As a result, the motors conduct energy more efficiently. Also, it makes electronic devices perform more swiftly and efficiently. Throughout the projection period, it is projected that the use of silicon dioxide in optical communication will present potential business possibilities for silicon dioxide suppliers.
- In November 2021, Heraeus added the Korean firm HS Advanced Materials Co. Ltd. to its inventory of semi-finished quartz products. This acquisition assists the business in broadening its product offering within the semiconductor sector.
Key Takeaways from Market Study
- The global silicon dioxide market amounted to US$ 11.8 billion in 2023.
- Worldwide demand for silicon dioxide is projected to increase at a CAGR of 6.6% during the forecast period (2023 to 2033).
- The global market is estimated to touch US$ 22.5 billion by the end of 2033.
- Asia Pacific holds a market share of 49% in 2023.
- The market in Europe is anticipated to expand at a CAGR of 5%.
“The electrical industry's rising demand for silicon wafers and the construction industry's rising demand for silicon dioxide have both led to the expansion of the global market,” says a Fact.MR analyst.
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Competitive Landscape
A few of the main strategies employed by the predicted viewers for this industry include authorities, organizations, industrial agencies, suppliers and traders, consultation with chemical specialists, key players in the silicon dioxide market, Investors, and trade professionals.
To preserve their market dominance and broaden their global presence, the companies in the silicon dioxide market are adopting a variety of methods, including invention, building capacity, supply/distribution partnerships, and acquisitions and mergers.
To keep up with the rising demand, market participants are also continually boosting their R&D activities and manufacturing capacity to upsurge the sales of silicon dioxide. Players in the industry consider reduced operational expenses while retaining high-quality silicon dioxide as a critical aspect.
- Oct. 2021: The source of Metallica Mineral's Cape Flattery silica sand scheme in Far North Queensland, Australia, has upgraded to 53.5 million tonnes with an in-situ silicon dioxide grade of 99.19 percent. Industrial mineral experts at Ausrocks projected a 40% increase in the reserve based on assay findings from the drilling campaign in August.
- In the Gernsheim location of the German multinational science and technology company Merck, a new production line for effect pigments based on silica went into operation in September 2021. With about 750 people working there, it is the prime pigment manufacturing facility in the entire globe.
Market Competition
Organic growth strategies such as new product releases, product approvals, and others such as copyrights and events have become important to many firms. Prominent examples of inorganic growth strategies that were seen in the market were acquisitions, partnerships, and collaborations.
Market participants have been able to grow their clientele and revenue as a result of these efforts. Manufacturers of silicon dioxide market are anticipated to see appealing growth potential in the future because of the increasing need for silicon dioxide across industry sectors.
Key Segments of Silicon Dioxide Industry Research
- By Type:
- Amorphous
- Quartz
- Crystalline
- Tridymite
- Cristobalite
- By Application:
- Adhesives & Sealants
- Food Adhesives
- Composites
- Coatings
- Greases
- Printing & Packaging
- By End-use Industry:
- Electrical
- Food & Beverages
- Chemicals
- Pharmaceuticals
- By Region:
- North America
- Latin America
- Europe
- Asia Pacific & China
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global silicon dioxide market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on form (amorphous, quartz, crystalline, tridymite, cristobalite), application (adhesives & sealants, food adhesives, composites, coatings, greases, printing & packaging), and end-use industry (electrical, food & beverages, chemicals, pharmaceuticals), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
Key Questions Covered in the Silicon Dioxide Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Silicon Dioxide sales grow until 2033?
- Which are the factors hampering the Silicon Dioxide demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Silicon Dioxide Market during the forecast period?
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