High Purity Silica Market CAGR Status, Manufacturers: 2024, Regional Demand, Emerging Trends and Global Research Forecast to 2031 | Wacker Chemie, Evonik Industries, Cabot Corporation

Market Overview:

High purity silica or silicon dioxide finds application in manufacturing of semiconductors, solar panels and other electronic components where purity level of above 99.99% is required. It acts as key raw material for these industries.

Market Dynamics:

The high purity silica market is expected to witness significant growth owing to rising demand from semiconductor industry. Semiconductor foundries extensively use high purity silica for manufacturing of integrated circuits, chips and other components where high purity level is crucial. Additionally, growing adoption of solar panels globally is also driving the demand for high purity silica from photovoltaic industry. Solar panels use silica in crystalline silicon solar cells which accounts for over 90% of the global solar market. Significant investments in solar industry and increasing solar installations especially in Asia pacific is further augmenting the market growth.

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Top Companies Covered In This Report:

★ Wacker Chemie
★ Evonik Industries
★ Cabot Corporation
★ Solvay SA
★ PPG Industries
★ Madhu Silica
★ Fuji Silysia Chemical
★ Tosoh Silica Corporation
★ Oriental Silicas Corporation
★ Albemarle Corporation
★ Sibelco
★ etc.Quarzwerke GmbH
★ Hanwha Chemicals
★ AGC Inc.
★ BASF
★ Tokuyama Corporation
★ SINOENERGY Group
★ RUSNANO Group
★ QingHai Meijia New Materials
★ Yichang Huopei Silicon Material Factory

Detailed Segmentation:

By Type
✦ Precipitated Silica
✦ Fumed Silica
✦ Silica Gel
✦ Fused Silica
✦ Colloidal Silica
✦ Others (microsilica, nanosilica etc.)

By Application
✦ Rubber
✦ Paints & Coatings
✦ Food & Beverages
✦ Personal Care & Cosmetics
✦ Abrasives
✦ Electronics
✦ Others (agrochemicals, pharmaceuticals, etc.)

By End-use Industry
✦ Automotive
✦ Construction
✦ Chemicals
✦ Food & Beverage
✦ Personal Care
✦ Others (agriculture, electronics, etc.)

Key Region/Countries are Classified as Follows:

⋆ North America (United States, Canada, and Mexico)
⋆ Europe (Germany, France, UK, Russia, Italy)
⋆ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
⋆ South America (Brazil, Argentina, Colombia)
⋆ Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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✦ Growing Demand from Semiconductor Industry is one of the Major Drivers of High Purity Silica Market

The semiconductor industry has been one of the major consumers of high purity silica. High purity silica finds widespread applications in the fabrication of integrated circuits, semiconductors and other related electronics. It is used as a raw material for manufacturing electronics components such as transistors, integrated circuits, microchips and circuit boards. The rapid growth in the semiconductor industry over the past few years owing to the rising demand for consumer electronics like smartphones, laptops, tablets etc has complemented the growth of the high purity silica market. According to reports, the semiconductor market is expected to grow at a CAGR of more than 8% during the forecast period which will further boost the demand for high purity silica used in manufacturing semiconductors.

✦ Increase use of High Purity Silica in Pharmaceutical Industry

High purity silica also finds significant application in the pharmaceutical industry. It is used in manufacturing of tablets, capsules and other medical devices. Pharmaceutical grade silica is added to tablets in order to improve the flow properties and enhance the manufacturing process. It also acts as a glidant and anti-caking agent. The rising healthcare expenditure and increasing consumer awareness about healthcare is positively impacting the growth of the pharmaceutical industry worldwide. This growth in the pharmaceutical industry will subsequently augment the demand for high purity silica in the coming years.

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✦ Presence of Substitute like Activated Alumina poses a Challenge

While the market outlook for high purity silica looks positive, the availability of substitute materials like activated alumina poses achallenge to its demand. Activated alumina has similar characteristics as high purity silica and can be used in many applications as an alternative. It has wider range of applications in industries like petroleum refining, water treatment and ceramics. Activated alumina provides advantages like less abrasive nature and lower cost compared to high purity silica. This increases the bargaining power of buyers and decreasing the overall pricing of high purity silica. Shift towards substitutes by end use industries can hamper the revenue growth of high purity silica market during the forecast period.

✦ Growing Demand for Medical Grade Silica from Pharmaceutical Excipient Manufacturing

The high purity silica market is presented with new opportunities with rapid growth in the pharmaceutical excipients industry. Excipients are the bulk formulation ingredients which are added to the active pharmaceutical ingredients to aid in drug manufacturing and delivery. Some key excipients which utilize medical grade silica are flow aids, glidants, Anti-caking agents and desiccants. The demand for new drug molecules and formulations have increased multifold in the recent past which in turn boosted the sales of pharmaceutical excipients. As medical grade silica is safe, widely available and cost-effective; it is increasingly replacing other excipients to a certain extent. This growing preference is opening new growth verticals for high purity silica manufacturers.

✦ Increasing Adoption of Green Manufacturing Processes to Drive High Purity Silica Market

As environmental regulations are getting stringent across the globe, industries are focusing on developing sustainable and green manufacturing processes. High purity silica is increasingly replacing conventional raw materials in various industrial applications due to its eco-friendly properties. It enables energy savings, reduces carbon footprint and aids in wastewater treatment. Many leading manufacturers have started offering high purity silica produced through green approaches like fluidized bed processes. This reduces the manufacturing cost in long run. The growing importance of ESG (environmental, social and governance) criteria is compelling industries to adopt sustainable alternatives. Hence, the trend of replacing conventional materials with environment-friendly high purity silica is expected to drive its demand over the coming years.

Key Questions Answered in the Report:

1. What are the growth opportunities for the new entrants in the global High Purity Silica industry?
2. Who are the leading players functioning in the global High Purity Silica marketplace?
3. What are the key strategies participants are likely to adopt to increase their share in the global High Purity Silica industry?
4. What is the competitive situation in the global High Purity Silica market?
5. What are the emerging trends that may influence the High Purity Silica market growth?
6. Which product type segment will exhibit high CAGR in the future?
7. Which application segment will grab a handsome share in the global High Purity Silica industry?
8. Which region is lucrative for the manufacturers?

Table of Contents:

1. Research Objectives and Assumptions
• Research Objectives
• Assumptions
• Abbreviations

2. Market Purview
• Report Description
- Market Definition and Scope
• Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Regions
- Market Snippet, By End-User
• Stratagem Opportunity Map (SOM)

3. Market Dynamics, Regulations, and Trends Analysis
• Market Dynamics
- Drivers
- Restraints
- Market Opportunities
• Impact Analysis
• Industry Trends
• Regulatory Scenario
• Acquisitions, Partnerships & Agreements
• Brand Analysis
• Pricing Analysis
• Epidemiology
• Porter's Analysis
• Value Chain Analysis
• Supply Chain Analysis
• Distribution Landscape

4. High Purity Silica Market - Impact of Coronavirus (Covid-19) Pandemic
• COVID-19 Epidemiology
• Overall Impact on this Sector
• Impact of COVID-19 on Supply and Demand

5. High Purity Silica Market, By Product Type, 2024-2031 (US$ Million)
• Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2024 - 2031
- Segment Trends

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