New Research on Silica Gel Market Projected to grow at CAGR of 3.6%, scrutinized in new research

The global market for silica gel is estimated to account for about US$ 505 Mn by the end of 2017 and registering a CAGR of 3.6% during the forecast period (2017–2025), is projected to reach a market value of about US$ 672 Mn by 2025 end.

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Increasing demand for silica gel from the packaging industry in the Asia Pacific region

The packaging industry is growing rapidly as almost all the small and big enterprises are largely focusing on their logistics. Also, some sectors such as food, pharmaceuticals, electronics, etc. are putting higher impetus on ensuring the safety of their products. In order to protect their products from moisture, they use silica gel as a desiccant. Additionally, apart from pharmaceuticals and food, the electronics industry can also be considered as an emerging market for silica gel. The number of electronics enterprises is increasing rapidly in some countries such as China, Japan, India, etc. and therefore, the demand for silica gel for the packaging of electronic devices is increasing.

Growing pharmaceutical industry will drive the demand for silica gel in the Asia Pacific region

The rising growth of biotechnology is expected to increase silica gel demand over the forecast period. Within the pharmaceutical industry, silica gel column chromatography is helpful in collecting or segregating different components of a drug. This technique is also employed for researching various medicines such as local anesthetics, sedatives, hypnotics, analgesics and steroids. Increase in demand for medicines, especially in emerging economies such as India and China is projected to drive biopharmaceuticals demand, which in turn will boost the growth of the chromatographic silica gel market during the forecast period.

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Availability of substitutes of silica gel hampering market growth in the Asia Pacific region

The availability of substitutes such as activated alumina, activated clay, activated charcoal, and molecular sieves is restraining the silica gel market. The usage of silica gel is limited to some end-use applications, whereas its substitutes are used in many applications such as bioterrorism, biohazard and gas and liquid dehydration applications, due to their low cost. As a consequence of their versatile applications and relatively low cost, customers often prefer these alternatives over silica gel. For instance, activated alumina is versatile, easy to use, affordable, and offers superior pH stability. Also, it can be used for reverse phase chromatography and is stable and suitable for high-temperature HPLC. Furthermore, unlike silica, it does not break down.

Global Silica Gel Absolute $ Opportunity Analysis – By Application

Chromatography segment is estimated to be valued at US$ 45.4 Mn by 2017 end and is projected to register a CAGR of 3.1% to reach US$ 57.9 Mn by the end of 2025. The segment is expected to create incremental dollar opportunity of US$ 13.8 Mn between 2017 and 2025.

Paints and Coatings segment is estimated to be valued at US$ 97 Mn by 2017 end and is projected to exhibit a CAGR of 3.8% to reach US$ 130.6 Mn by the end of 2025. The segment is expected to create incremental dollar opportunity of US$ 36.8 Mn between 2017 and 2025

Desiccants segment is estimated to be valued at US$ 257.9 Mn by 2017 end and is projected to register a CAGR of 3.8% to reach US$ 348.2 Mn by the end of 2025. The segment is expected to create incremental dollar opportunity of US$ 99.1 Mn between 2017 and 2025.

Increasing application of fragrance silica gel

As the number of homes increase owing to urbanization, awareness related to keeping the air fresh and clean within homes is also increasing. Additionally, cabs, cars, etc. must also be maintained, cleaned and refreshed on a regular basis to provide a comfortable and fresh environment for people opting to use them for traveling. The popularity of fragrance silica gel is growing as it creates a suitable and comfortable environment and thus also enhances work efficiency.

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