Fumed Silica Market to Incur Rapid Extension During 2017- 2027
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Global Fumed Silica Market: Market Dynamics
Fumed silica finds its application in diverse end use industries such as paints & coatings, automotive, adhesives & sealants, food industry and many more. Increasing demand from end use industry particularly from the pints and coating industry is expected to drive the growth of fumed silica market over the forecast period. Further, with the steadily increase in disposable income and consumer spending coupled with steady growth of industrial production (growth in automotive production, among others) and increasing construction and infrastructural spending fumed silica market is expected to witness robust growth in the coming years. Moreover, increasing adoption of fumed silica as reinforcement filler material in silicon elastomers, due to its features such as, enhancement of the mechanical properties such as, tensile strength, elongation, and tear resistance with a long-lasting effects also improving the chemical weather resistance and other beneficial electrical properties are expected to fuel the demand for fumed silica over the coming years.
As fumed silica is not a standalone product, it is a consumable product that finds application across various end-use industries, hence the fumed silica market is highly dependent of the growth and profitability of the end-use industries. The cyclical behavior various end use industries such as automotive industry, etc. could affect the growth and profitability of the fumed silica market, which in turn could become a major challenge for the market players operating the global fumed silica market.
Global Fumed Silica Market: Segmentation
The global Fumed Silica market on the basis of Grade can be segmented as:
Hydrophilic (Untreated) Fumed Silica
Hydrophobic (Treated) Fumed Silica
The global Fumed Silica market on the basis of end-use applications can be segmented as:
Adhesives & Sealants
Paints & Coatings
Food & Beverages
Greases & lubricants
Global Fumed Silica Market: Regional Outlook
Europe dominates the fumed silica market in terms of production however, Asia pacific dominates the market in terms of consumption. Countries such as China, India, Japan, and South Korea among others depend imports from European market to meet the domestic fumed silica demand. Asia Pacific fumed silica market is expected to have robust growth over the over the forecast period, which in turn is expected to extensive growth opportunities for the market growth. Increasing Demand of paints and coatings in the North America, owing to the growing demand from construction, automotive and oil & gas industry is expected to be a key driving factor for the growth of the global fumed silica market. Latin America and MEA fumed silica market are expected to have steady growth owing to recovery in economic conditions.
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Global Fumed Silica Market: Key Players
Examples of some of the key players identified in the global Fumed Silica market are as follows:
Evonik Industries AG
Wacker Chemie AG
Reade International Corp.
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