by The fumed silica market comprises ultrafine, high-purity, pyrogenic silica in the form of light, fluffy, white powders or transparent gels. Fumed silica serves as a reinforcing and thickening agent, absorbent, thixotrope, anti-caking agent, and matting agent. It finds widespread application in various end-use industries such as coatings, adhesives & sealants, batteries, healthcare & personal care, and other specialized industrial applications.
The Global Fumed Silica Market is estimated to be valued at US$ 1.42 Bn in 2024 and is expected to exhibit a CAGR of 10.% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Fumed Silica market are Magna International Inc., Webasto Roof Systems Inc., Mitsuba Corporation, Inteva Products (Acquired by CIE Automotive), Johnan America Inc., Aisin Seiki Co. Ltd., ACS France SaS, Yachiyo Industry Co. Ltd., and Inafla Roof Systems. The increasing demand from coatings, adhesives & sealants, healthcare & personal care industries is driving the growth of the fumed silica market. Key players are expanding their global footprint to leverage the growing opportunities in Asia Pacific and North American markets.
Growing demand: The major factor fueling the growth of the Fumed Silica Market Growth is the increasing consumption from various end-use industries like coatings, adhesives & sealants, healthcare & personal care, etc. Fumed silica is widely used as a reinforcing agent incoatings, sealants, and adhesives. Additionally, it also finds usage in healthcare & personal care products like toothpaste, body powders, face powders, etc.
Global expansion: Key players are expanding their production facilities and strengthening their global supply chain networks. For instance, in 2021, Evonik invested in a new fumed silica plant in Alabama, USA to support the growing demand in North America. Players are also focusing on Asia Pacific with China and India being key target markets owing to rising industrialization.
Market Key Trends
One of the Fumed Silica Market Size and Trends is the increasing preference for inorganic and chemical-free personal care products. The rising health consciousness is driving consumers towards natural ingredients like fumed silica. Players are innovating new product ranges with fumed silica to cater to this demand. The sustainable production of fumed silica through novel manufacturing processes is also a major trend, with manufacturers focusing on reducing energy usage and emissions.
Porter’s Analysis
Threat of new entrants: New companies entering this Fumed Silica Market would require large capital investments to build manufacturing facilities for production. Bargaining power of buyers: There are several established buyers in various end-use industries. However, the availability of substitutes limits their bargaining power. Bargaining power of suppliers: A few key players dominate the supply side making the suppliers powerful. However, availability of raw materials reduces their bargaining power. Threat of new substitutes: Nanosilica and other industrially manufactured amorphous silicas possess potential to substitute fumed silica owing to their comparable properties. Competitive rivalry: The presence of established global players intensifies the competition. However, niche product offerings and extensive applications contribute to market growth.
Geographical regions where market in terms of value is concentrated: Asia Pacific region dominates the global market due to high demand from coatings, electronics, cosmetics and personal care industries in China, Japan and South Korea.
Fastest growing region for the market: North America region is expected to witness the fastest growth on account of increasing demand for fumed silica in paints & coatings and unsaturated polyester resin applications especially in the US and Mexico.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
About Author - Ravina Pandya
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