Fumed Silica Market Growth Analysis | 2023-2028

Market Insights

“The fumed silica market was estimated at USD 1.31 billion in 2022 and is likely to grow at a CAGR of 5.2% during 2023-2028 to reach USD 1.78 billion in 2028.”

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Market Dynamics

Introduction

Fumed silica is a fine, white, and powdery form of silicon dioxide. It is produced through a high-temperature process that involves the reaction of silicon tetrachloride vapor with oxygen. The resulting nano-sized silica particles have a high surface area and are extremely porous.

Fumed silica finds wide application in various industries due to its unique properties. It is used as a reinforcing agent and thickener in adhesives, sealants, and coatings, improving their mechanical properties and preventing settling. Additionally, it acts as an anti-caking agent in food and pharmaceutical products, enhances flowability, and prevents clumping. Fumed silica is also utilized in cosmetics, paints, rubber products, catalysts, desiccants, and thermal insulators, thanks to its versatility and beneficial characteristics.

Market Drivers

The key factors driving the growth of the fumed silica market are:

• Growing requirements for technical progression and to achieve cost optimization in the pharmaceutical industry.
• An increase in demand for beauty & personal care products.
• Increasing uses of paints & coatings by automotive & construction industries.
• Favorable trends related to the building and construction sector.

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Segments Analysis

By Product Type

“The hydrophilic segment dominates the market during the forecast period.”

The market is segmented as hydrophilic and hydrophobic. The hydrophilic segment is estimated to account for the major share of the market. The growth of the segment is attributed to its wide range of applications during the forecast period.

The main difference between these two products is their capability of combining with water. Among these two, hydrophilic fumed silica displays a strong affinity with water, whereas hydrophobic silica represents water-repellant features.

By Application Type

“Beauty & personal care and pharmaceuticals dominate the market during the forecast period.”

The market is segmented as pharmaceutical, beauty & personal care, silicone elastomers, paints, coatings & inks, UPR, adhesives & sealants, food & beverages, and others. Beauty & Personal Care and Pharmaceuticals are estimated to be the leading applications in the market.

Fumed silica is utilized as an anti-blocking and thixotropic agent in various cosmetic products such as lipstick, foundations, skincare, and hair care., eventually fueling the growth of the cosmetics sector. On the other hand, fumed silica is the best fit for resolving issues such as compaction, weight variation, active or inactive ingredient segregation, tablet breakage, chipping, etc. faced by many pharmaceutical manufacturers.

Regional Insights

“Asia-Pacific is estimated to be the leading region in the market during the forecast period.”

In 2019, around 2/5ths of the global fumed silica production was consumed by Asia-Pacific. The growth is attributed to the presence of a large number of industries in the region. Factors such as Asia-Pacific’s growing real estate sector are estimated to flourish and attract high consumer demand for paints & coatings, and China and India being the major consumers of unsaturated polyester resin in both global and regional sectors, which are expected to fuel the growth of the regional market over the forecast period.

Europe and North America are also expected to offer substantial growth opportunities during the forecast period.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors, including price, product offerings, regional presence, etc.

The following are the key players in the fumed silica market (arranged alphabetically).

• Cabot Corporation
• China-Henan Huamei Chemical Co., Ltd.
• Dongyue Group
• Evonik Industries AG
• Henan Xunyu Chemical Co., Ltd.
• Hubei Xingrui Silicon Materials Co., Ltd.
• Kemitura Group
• OCI Company Ltd.
• Tokuyama Corporation
• Wacker Chemie AG

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s fumed silica market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our fumed silica market report from the industry stakeholders, we have tried to further accentuate our research scope to the fumed silica market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The fumed silica market is segmented into the following categories:

By Product Type

• Hydrophilic
• Hydrophobic

By Application Type

• Pharmaceutical
• Beauty & Personal Care
• Silicone Elastomers
• Paints, Coatings, & Inks
• UPR
• Adhesives & Sealants
• Food & Beverages
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players).
• SWOT analysis of key players (up to three players).

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com.