Press release
Nanosilica Market Soars Toward USD 7.14 Billion by 2030, Driven by Rubber and Coatings Demand
Nanosilica Market
The global nanosilica market is projected to reach approximately USD 7.14 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 7.21% from 2024 to 2030. This growth is fueled by increasing applications in rubber, coatings, concrete, agriculture, and pharmaceuticals, alongside significant investments in nanotechnology research and development.
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Competitive Landscape
The nanosilica market is characterized by the presence of several key players focusing on technological advancements and strategic partnerships to enhance their market share. Companies such as Evonik Industries AG, AkzoNobel N.V., Cabot Corporation, Wacker Chemie AG, and Fuso Chemical Co. Ltd. are at the forefront, investing in research and development to produce efficient and cost-effective nanosilica products.
Regional Insights
United States: Growth and Consolidation
In the United States, the nanosilica market is experiencing steady growth, driven by the adoption of advanced technologies across various sectors. A notable development includes the acquisition of U.S. Silica Holdings Inc. by Apollo Global Management for approximately $1.85 billion. This strategic move aims to leverage Apollo's resources and expertise to enhance U.S. Silica's operations and market presence.
Asia Pacific: Opportunities and Trends
The Asia Pacific region dominates the global nanosilica market, accounting for over 42.7% of the total market share in 2021. Countries like China, India, and Japan are witnessing strong economic growth due to increasing industrial activities in sectors such as construction, rubber, healthcare, food, coatings, and agriculture. In particular, China's infrastructural development has led to a surge in demand for nanosilica as a concrete additive.
Europe: Trends and Updation
Europe holds a significant share of the global nanosilica market, with a focus on environmental sustainability and green technologies. The region is investing in research and development to improve production efficiency and cost-effectiveness of nanosilica. Companies like AkzoNobel N.V. have expanded their product lines, such as the launch of the Accelstyle range for packaging coatings, to meet the growing demand for eco-friendly solutions.
Middle East and Africa: Emerging Opportunities
The Middle East and Africa are emerging markets for nanosilica, with a projected market size of USD 0.28 billion in 2023. The region's growth is attributed to the increasing adoption of nanosilica in construction and agriculture sectors. While specific mergers and acquisitions are limited, the region's focus on renewable energy adoption indicates a promising future for nanosilica technologies.
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Recent Developments
AkzoNobel N.V. acquired Fabryo, a Romanian company, in October 2018, strengthening its position in the decorative paints market and expanding its footprint in Eastern Europe.
In November 2023, AkzoNobel launched the initial two products from its new Accelstyle range for its packaging coating business, aiming to meet the growing demand for sustainable and innovative coating solutions.
Nanosilica Market Segmentation:
by Product
P-type
S type
Type III
P-type segment led the nanosilica market by product during the forecast period. The high use of p-type nanosilica in numerous applications, such as rubber, coatings, and concrete, is responsible for this increase.
by Application
Rubber
Healthcare
Coatings
Concrete
Plastic
Electronics
Agriculture
Others
Because of the increasing use of reinforced rubber and other applications for rubber-like car parts worldwide, the rubber segment is expected to reach by 2030. Coatings, however, were the market's second-largest application. Nanosilica is becoming more and more in demand in the coatings industry due to its widespread use in ultra hydrophobic coatings.
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Nanosilica Market Competitive Edge:
1. Dow Corning Corporation
2. WackerChemie AG
3. NanoPore Incorporated
4. Evonik Resource Efficiency GmbH
5. Cabot Corporation
6. Akzo Nobel N.V.
7. Nanostructured & Amorphous Materials, Inc.
8. FUSO CHEMICAL CO., LTD.
9. DuPont
10. Songyi Advanced Materials
11. Bee Chems
12. DuPont de Nemours Inc.
13. Nanoshell Co.
14. Normet
15. US Research Nanomaterials Inc
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𝐑𝐞𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭…
Australia Nanosilica Market Growth Analysis till 2030
Nanosilica Market: Introduction
The global nanosilica market is expected to reach a value of ~US$ 55 Bn by 2030, expanding at a CAGR of ~7% during the forecast period. Increase in the demand for nanosilica for use in various applications is a key factor driving the global nanosilica market. Additionally, growth in the adoption of nanotechnology across the globe is expected to fuel the global market during the forecast period.
𝐑𝐞𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭…
