Fumed silica is a popular chemical additive for many applications. Its low refractive index and opacity make it a preferred additive for plant protection, personal care, and home care products. It can be customized to meet the needs of a particular application. A combination of fumed silica and MFC can be used in a wide variety of products. Fumed silica is a unique chemical compound. It is formed when a chemical reaction between hydrogen and oxygen results in the formation of branched agglomerates. The silanol groups on the surface are highly reactive, which allows fumed silica to be used as a reinforcing filler in elastomers and liquids. It is also used as a universal thickening agent in cosmetics and toothpaste.
Market Statistics:
The Global Fumed Silica Market is estimated to account for US$ 1.10 Bn in terms of value by the end of 2021.
Global Fumed Silica Market: Drivers
The demand for nano-biomaterials in clinical dentistry is expected to boost the market growth. In addition, increasing popularity of local cosmetic brands is also expected to fuel market growth. Moreover, the rise in popularity of local beauty brands has created stiff competition for large players. This will encourage more development in the market and increase production output. Furthermore, advancements in nanomaterial synthesis will further favour the market growth.
Global Fumed Silica Market: Opportunities
The construction industry is anticipated to grow at a rapid pace over the next few years. The Indonesian and Indian construction sectors are expected to experience a surge in demand due to increasing commercial and residential construction. Furthermore, the government's favourable policies and government investments are likely to boost the demand for fumed silica in the near future. All these factors are projected to hold potential opportunities over the forecast period.
Global Fumed Silica Market: Restraints
However, the global market is limited by a number of factors. One of these is rising freight costs owing to the rise in crude oil prices.
Global Fumed Silica Market - Impact of Coronavirus (Covid-19) Pandemic:
During Covid-19 pandemic the industry has faced huge shutdown. Lockdown has negatively impacted industrial transform processes. Major disruption in supply chain and trading patterns in the global fumed silica industry is severely impacted the market growth.
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Key Takeaways:
The global Fumed Silica market was valued at US$ 1.10 Bn in 2021 and is forecast to reach a value of US$ 1.81 Bn by 2030 at a CAGR of 5.67 % between 2022 and 2030.
Hydrophilic Fumed Silica Product Type segment held dominant position in the global Fumed Silica market in 2021, accounting for 70% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Fumed Silica Market Trends:
Increasing launch of new product by key players due to continuous innovation in the field of fumed silica is expected to be a trend in the market. For instance, in February 2019, Wacker launched a new pyrogenic silica grade called HDK H21, which is used in polar adhesive systems.
Growing focus of key players to increase production capacity of fumed silica is a trend observed in the market. For instance, in August 2018, Evonik Industries AG entered a joint venture with Wynca Group to expand its production capacity and silicone product offerings.
Global Fumed Silica Market: Competitive Landscape
Applied Material Solutions Inc., Cabot Corporation, Chifeng Shengsen Silicon Technology Development Co. Ltd, China-Henan Huamei Chemical Co. Ltd, Dalian, Fuchang Chemical Co. Ltd, Dongyue Group Co. Ltd, Evonik Industries, Gelest Inc., Heraeus Holding, Kemitura AS, OCI Company Ltd, Tokuyama Corporation, and Wacker Chemie AG
Global Fumed Silica Market: Recent Developments
May 2018, The Oci Company Ltd in its 2018 annual report mentioned that the company was in the process of expanding its hydrophobic fumed silica capacity from 500 tons to 1,000 tons at the plant in Gunsan, Korea.
In July 2019, Wacker took a new approach for product marketing, whereby the company started offering pyrogenic silica on CheMondis and Pinpools, two online marketplaces for selling chemical raw materials and specialty products.
In December 2018, The Wacker continued its work in its Charleston production site in Tennessee, United States at the pyrogenic-silica facility. This project is estimated to be worth EUR 55 million.
