Press release
Sales Revenue of Silica Gel Market to Grow at 3.4% CAGR by 2025
However, high cost of silica gel, coupled with environmental regulations imposed by the U.S. government which govern usage of silica gel will impede market growth in North America.
The demand for silica gel is witnessing a surge in agriculture, food & beverages, biotechnology, and electronics, coupled with R&D labs and academic institutes. A recent report by Persistence Market Research (PMR) estimates nearly 350 KT of silica gel to be sold globally in 2017. In terms of volume, PMR’s report projects the global silica gel market to register 3.4% CAGR during the forecast period 2017 to 2025. By 2025, global sales of silica gel are estimated to reach 447.04 KT.
Asia Pacific (APAC) will remain the most lucrative market for silica gel, with sales expected to reach nearly 200 KT by 2025-end. The silica gel market in this region is projected to register the highest CAGR through 2025. Scope for packaging industry in Asia Pacific is rapidly growing, with small and big industries majorly focusing on their logistics.
For protecting their products from moisture, they are using silica gel as a desiccant. In addition, electronics sector is estimated to be an emerging field for adoption of silica gel. With number of electronic enterprises growing rapidly in APAC countries such as China, India, and Japan, demand for silica gel will witness a surge in these countries.
View and Download TOC of Silica Gel Market Research Report@ https://www.persistencemarketresearch.com/market-research/silica-gel-market/toc
However, availability of substitutes such as activated alumina, activated charcoal, activated clay, and molecular sieves, are expected to restrain growth of silica gel market in APAC. As a consequence of their versatility in applications and comparatively low cost, customers are preferring adoption of these alternatives over silica gel.
By product type, non-indicating silica gel will continue to be sought-after in the market, with sales expanding at a comparatively high CAGR than indicating silica gel through 2025, in terms of volume. Growing demand for non-indicating silica gel is primarily attributed to its varied scope in applications such as desiccant, plastics, personal care products, and paints & coatings.
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In terms of volume, fine-pore silica gel is estimated to exhibit 3.9% CAGR through 2025, and will remain dominant in the global silica gel market. In addition, sales of wide-pore silica gel and medium-pore silica gel are expected to collectively account for 183.75 KT by 2025-end.
In terms of volume, desiccants will continue to be the largest application of silica gel, followed by pharmaceuticals and paints & coatings. Pharmaceutical application of silica gel is expected to register the highest CAGR through 2025. In contrast, application of silica gel in catalyst support will exhibit the lowest CAGR through 2025, in terms of volume.
Key market players identified in PMR’s report include W.R. Grace & Co., Thermo Fischer Scientific, Merck KGaA, Clariant, BASF SE, AGC Chemicals Americas, Osaka Soda Co., Ltd., Silicycle, Multisorb Technologies, Hengye, Inc., Dessicare, Inc., PQ Corporation, Fuji Silysia Chemical ltd., Qingdao Makall Group Inc.
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About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
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