Fumed Silica Market worth $1.6 billion by 2026 | Key players Evonik Industries, Cabot Corporation, Wacker Chemie AG, Tokuyama Corporation, Applied Material Solutions Inc.

According to recent market research the "Fumed Silica Market by Type (Hydrophilic and Hydrophobic), Application (Silicone Elastomers, Paints, Coatings & Inks, Adhesives & Sealants, UPR & Composites), End-Use Industry, and Region - Global Forecast to 2026" The global fumed silica market size is projected to grow from USD 1.3 billion in 2021 to USD 1.6 billion by 2026, at a CAGR of 5.1% from 2021 to 2026. The market is projected to grow in accordance with the increase in the demand for fumed silica for numerous applications, particularly for building & construction applications across the globe. Furthermore, the fumed silica market has witnessed a significant increase in demand, owing to its anti-settling, sag resistance, adhesion improvement, free-flow improvement, heat stability, and various other performance functionalities.

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The hydrophilic segment accounted for the largest market share in the fumed silica market. The hydrophilic nature of fumed silica is the result of the attached hydroxyl groups on the silica atom at the particle surface, owing to which the product is capable of hydrogen bonding, helping it to disperse in water. Hydrophilic fumed silica helps in increasing the adhesion properties. It also absorbs water off the surface of the particle hence is best suited as an anti-caking agent.

The UPR & composites segment is expected to grow at the highest CAGR from 2021 to 2026. It is witnessing high growth owing to increasing resin applications in various industry verticals, technological advancement, and their growing demand in developing regions. Building & construction, pipes & tanks, and automotive applications use UPR extensively for making fiber reinforced plastics (FRP). They are also widely used in thermosetting resins with better product performance in comparison to epoxy, vinyl ester, acrylics, amides, and alkyd resins. Various properties associated with UPR include relative ease of manufacturing, cost-effectiveness, ease of processing, and their ability to be readily modified for specific use.

The building & construction end-use industry accounted for the largest share for fumed silica in 2020, in terms of value and volume. Increasing construction activities, coupled with rapid urbanization and industrialization in emerging economies, are leading to the rise in demand for fumed silica in the building & construction industry.

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The APAC region is projected to lead the fumed silica market in terms of both value and volume from 2021 to 2026. This region is witnessing the highest growth rate due to the rapid economic expansion. According to the IMF, China and India are among the fastest-growing economies globally. India is expected to overtake China with the highest growth rate, thus driving the global economy. The rising disposable income of people, shifting of manufacturing facilities from developed regions, such as North America and Europe, and rapidly growing industrial sectors are expected to drive the market in APAC.

Evonik Industries (Germany), Cabot Corporation (US), Wacker Chemie AG (Germany), Tokuyama Corporation (Japan), and Applied Material Solutions Inc. (US), amongst others, are the key players operating in the fumed silica market.

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Evonik Industries is one of the leading players in specialty chemicals and a dominant manufacturer of fumed silica. The company operates globally through five business segments: Nutrition & care, smart materials, specialty additives, performance materials, and service segment. Evonik offers fumed silica through its smart materials business segment. The company offers fumed silica products under the brand name-AEROSIL. The products under this brand serve various end-use industries, such as paints, coatings, modern adhesive systems, transparent silicones, and non-combustible high-performance insulating materials. Evonik Industries has a global presence with an operating base situated in Germany. The company is active in over 100 countries globally with a production base in 27 countries and an R&D facility in 37 locations.

Wacker Chemie AG is one of the leading manufacturers of specialty silica that operates through five major business segments: silicones, polymers, polysilicon, biosolutions, and others. The company offers fumed silica products through the silicones segment under the brand HDK. Under this brand, Wacker Chemie AG manufactures both hydrophobic and hydrophilic fumed silica. These products can be used in accumulators, composites, printing inks, developers, paints, joint fillers, animal feeds, insulating gels, and many more. Wacker Chemie AG has experience of more 100 years, along with a base of 52 sales offices in 32 countries globally. It has 26 production capacities located in 11 countries across the globe.

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