According to Fact.MR, a market research and competitive intelligence provider, the global market for fumed silica is projected to exhibit growth at 5% CAGR through 2032.
Augmenting utilization and integration of fumed silica in the construction industry to positively impact market growth from 2022 to 2025.Innovation and R&D will create new growth opportunities for market players from 2028 to 2032.
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The application of fumed silica in paints & coatings for industrial and decorative use is estimated to witness vigorous growth during the projection period, primarily driven by steadily increasing disposable income and consumer spending, coupled with steady growth in industrial production (growth in automotive production, among others).
Key Takeaways from Market Study
- The global fumed silica market is estimated to be valued at US$ 2.11 billion by 2032, expanding at a CAGR of 5% from 2022 to 2032.
- Under application, the paints & coatings industry accounts for a major share in the market.
- Hydrophilic fumed silica rules the market and will account for the highest CAGR over the decade.
- North America dominates the global market with close to 30% market share in 2022.
“Thixotropic and anti-settling agent demand from the paints & coatings industry is estimated to supplement fumed silica sales growth,” says a Fact.MR analyst.
Market Buoyancy Analysis
Fumed silica manufacturers such as Evonik Industries AG, Cabot Corp., and others are strategically expanding their capacity to meet the increasing demand in the global market. Key capacity expansions have been announced in the Asia Pacific region. North America and Europe are also expected to witness decent growth in their respective regional capacities.
Increasing demand for fumed silica, majorly for applications in rubber (tires, footwear, industrial, and others), oral care, and electronics, is compelling leading market players to increase their worldwide production capacity. Further, product launch is also a key growth strategy that is gaining traction.
- In October 2021, Evonik established its new fumed silica plant in China in a joint venture with Wynca. The produced fumed silica is operated under the brand name AEROSIL.
- In June 2021, Evonik Industries AG has signed a purchase agreement to acquire privately-owned technology-driven company Infinitec Activos.
- In May 2021, Cabot Oil & Gas Corp. merged with Cimarex Energy in an all-stock deal that values the combined company at US$ 17 billion.
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Key Companies Profiled This Report
- BASF SE
- Berry Global Inc.
- CI Takiron
- Exxon Mobil Corporation
- Dow Inc.
- RPC Group PLC
- RKW Group
- Trioplast Industries AB
- Achilles Corporation
- Ab Rani Plast Oy.
Industry Research Report
- By Product Type :
- Hydrophilic Fumed Silica
- Hydrophobic Fumed Silica
- By Application :
- Silicone Rubber
- Paints & Coatings
- Unsaturated Polyester Resins
- Adhesives & Sealants
- Healthcare & Personal Care
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Queries addressed in the fumed silica report:
- Why are the fumed silica players targeting region for increased product sales?
- What patented technologies are the players utilizing in the global fumed silica?
- Which regions are displaying the fastest growth in the fumed silica?
- What are the underlying micro- macroeconomic factors affecting the global fumed silica?
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