Newark, NJ, May 23, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global silicon dioxide market is expected to grow from USD 7.19 billion in 2019 to USD 11.46 billion by 2027, at a CAGR of 6.6% during the forecast period 2020-2027. With the technological development and applicability of silicon dioxide across various industries is influencing the market in North America. Western Europe is expected to witness significant growth in the market. However, due to health hazards and stringent regulation in Europe, the demand for silicon dioxide may get affected. The Asia-Pacific region, excluding Japan, is capitalizing on the opportunities of new products derived from silicon dioxide. Due to the availability of resources and investment opportunities, the Asia-Pacific region, except Japan is expected to dominate the growth of the market.
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Some of the notable players in the silicon dioxide market are Gelest Inc., American Elements, Sinosi Group Corporation, Sigma-Aldrich Co. LLC., Tosoh Silica Corporation, Golovach Quartz, Cabot Corporation, Alufluor AB, Kurt J. Lesker Company, Evonik Industries AG, Little Six Corp., and Manley Brothers. After the joint venture of Evonik and Wynca, Evonik will hold the majority of shares for the production of silica under the name AEROSIL.
The source segment includes synthetic and natural. Natural segment is expected to witness the largest share in the market. The form segment comprises crystalline-tridymite, quartz, cristobalite and amorphous. Amorphous layer is expected to dominate the market growth. Based on application, the market is segmented into food additives, coatings, composites, greases, printing and packaging, adhesives and sealants, others. Application of food additives segment is dominating the market owing to its use as an anti-caking agent in coffee whiteners, seasonings, and powdered mixes. The end-use industry segment includes pharmaceutical, food & beverage, solar panels, chemical, electrical, others. Electrical segment is dominating the growth of the market, followed by solar panels.
The factor driving the silicon dioxide market its occurrence and abundant functionality. Properties of silicon dioxide are anti-caking, removal of unwanted impurities, protection against diffusion of dopants and high-temperature stability. Silicon dioxide is used in the manufacturing of health supplements owing to its anti-caking property. It also prevents clumping, therefore use in production of chilli powder, salt, and other spices. The factor that restrains the growth of the market is silicosis, a lung disease caused due to inhaling crystalline silica particles over a long time. This is affecting the growth of the market, particularly in mining, glass manufacturing, where it accounts for the largest share. Therefore, the market is expected to grow due to the increase in the use of silicon dioxide in various products, mainly food.
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About the report:
The global silicon dioxide market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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