New York, United States , Jan. 16, 2023 (GLOBE NEWSWIRE) -- The Global Fumed Silica Market Size to grow from USD 1,603 Million in 2021 to USD 2,708 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 6% during the forecast period. The fumed silica market has grown because it is extremely adaptable and can be used in both consumer and industrial goods. The Worldwide Fumed Silica Market Statistics was estimated at over 250 kilotons in 2020.
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Browse 52 market data Tables and 62 Figures spread through 215 Pages and in-depth TOC on “Global Fumed Silica Market Size, Share, and COVID-19 Impact Analysis, By Type (Hydrophilic Fumed Silica and Hydrophobic Fumed Silica), By Application (Silicone Rubber, Plastics and Composites, Food and Beverages, Paints and Coatings, Adhesives and Sealants, Pharmaceutical, Personal Care, Chemicals and Fertilizers, and Other Applications), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.”
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The hydrophilic fumed silica segment to account for the largest market size during the forecast period
Based on the type, the global fumed silica market is categorized into Hydrophilic Fumed Silica and Hydrophobic Fumed Silica. The hydrophilic fumed silica segment to account for the largest market size during the forecast period. It can be fully soaked and distributed in water and is made by hydrolyzing volatile chlorosilanes in an oxyhydrogen flame. At high temperatures, this silica exhibits exceptional insulating qualities. The use of hydrophilic fumed silica in non-polar resin systems is appropriate. It is used in non-polar solvents including xylene, mineral spirits, and styrene to thicken and reinforce silicone as well as act as a glidant for food and industrial powders.
The pharmaceuticals segment to hold a higher CAGR during the forecast period.
Based on the application, the ceramic ink market is categorized into Silicone Rubber, Plastics and Composites, Food and Beverages, Paints and Coatings, Adhesives and Sealants, Pharmaceuticals, Personal Care, Chemicals and Fertilizers, and Other Applications. The pharmaceuticals segment to hold a higher CAGR during the forecast period. The ingredient is utilized to provide the required qualities to a variety of medication, capsule, and tablet formulations as well as hair care, skin care, and oral care products. The market for fumed silica will experience rapid expansion over the next few years as a result of the growing population and rising spending on healthcare and cosmetics. It helps to increase the hardness of tablets and enhances the flow characteristics of the raw materials needed to make tablets and capsules. The fumed silica market will rise due to positive trends in the pharmaceutical industry.
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Asia Pacific is estimated to account for the highest market share in 2022.
The Global Fumed Silica Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. The expanding pharmaceuticals, beauty, and personal care industries as well as the construction industry will also play a significant role in driving the value of the regional fumed silica market in the near future. Due to significant upcoming infrastructure development projects, the China construction sector is anticipated to experience consistent growth. In India, Indonesia, and Thailand, it is projected that the building industry would expand quickly during the forecast period. North America to hold a higher CAGR during the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Vendors in the Global Fumed Silica Market: Dongyue Group, Kemitura Group, Cabot Corporation, OCI Company Ltd., Evonik Industries AG, Tokuyama Corporation, Orisl, China-Henan Huamei Chemical Co. Ltd., Wacker Chemie AG, Henan Xunyu Chemical Co. Ltd., Cabot Sanmar Limited, and Hubei Xingrui Silicon Materials Co. Ltd.
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Some of the Key Developments:
In August 2019, the capacity of Evonik Industries AG's factory in Antwerp, Belgium, to produce more fumed silica for use in modern adhesive systems, transparent silicones, non-flammable insulation materials, coatings, and paints, was disclosed.
In August 2018, Evonik Industries AG and Wynca decided to launch a joint venture in which Evonik will own 60% of the new business and produce fumed silica that will be sold under the brand AEROSIL.
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