Fumed Silica Market Research Article 2018-2023: Key Manufacturers Analysis, Business Prospects, and Revenue Statistics

Fumed Silica Market

Fumed silica is a part of specialty silica, which also consists gel silica, precipitated silica, and silica sol. The demand for specialty silica is driven by rise in world manufacturing activity, particularly in key silica markets such as tires, rubber, chemicals and agricultural products. Wherein, fumed silica noted growing at lucrative CAGR after precipitated silica, which is the largest silica market. The global fumed silica market served prolific growth over the past seven years and it is heading towards the growth consolidation in the coming years. Demand in this market is rising year by year due to the strong turnaround in the rubber industry after the strong hard-hit in 2008-09. The overall silica market project strong gains in demand in the chemicals market, as more of these products employ silica additives to improve their processability and performance. On the other hand, increasing pressure form government regulatory bodies regarding the adoption of bio based products along with the increasing penetration of green tires could hamper the positive movement of this market. In addition to this, cosmetics markets for overall will sees limited gains in the coming years. Increasing maturity of established markets such as China, India, Western Europe, The U.S. and Brazil expected to provide limited gains due to focus on untapped markets.

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How emergence of fumed silica in the drug production applications will play crucial role?

Importance of fumed silica has been recognized gradually in drug production over the past few years. It is used during the drug manufacturing process for flow aid to maintain powder flow, die filing acid to maintain uniformity in the tablet weight, and compaction aid to maintain hardness of the tablet. Due to such crucial applications of fumed silica, pharmaceutical industry has recognized its importance and has set to its productive consumption in the coming years. According to the Deloitte, the global healthcare spending on medicine is anticipated to reach USD 1.5 trillion by 2020, expanding at robust growth rate year by year. This in turn, anticipated to provide productive gain for the drug production and ultimately for fumed silica. Moreover, World Health Organization (WHO) asserted that, 53% death across the globe is caused by chronic diseases and its rate is growing year by year, which ultimately widening scope for the drug production thereby providing growth offering for this market.

Increasing standard of living & its relevance to global growth

Gradual growth in the global standard of living couple with rising disposable income is directly proportional to the demand of this market. Economic development across the developed and developing economies of globe has raised the spending economic power of the majority population. This in turn, forced people to invest on aesthetic applications, decorative articles and high end construction projects. It altogether has resulted into increasing construction activities and has raised demand for paints and coatings as well as adhesive and sealants.

Degree of competition: Will it drive the market growth?

The global fumed silica market witnessing the healthy growth in the proximity of large Tier -2 global industry participants. The key players operating in this market are Evonik Industries AG, Wacker Chemie AG, Cabot Corporation, and Tokuyama Corporation. Apart from aforementioned market players the market consist of large manufacturers, and each one of them is looking for growth expansion by adopting expansion of production campsites, to exploit the growth served by this market. Some collective efforts are also seen to strengthen the market penetration. For instance, Cabot Corporation formed joint venture with Mongolia Hengyecheng Silicon Co. to initiate the fumed silica production in China in September, 2016. This joint venture has sets trend in China to raise the overall fumed silica production expansion and then, China witnessed has seen penetration of other market player in the country to meet the demand-supply gap.

Acquisition of J.M. Hubers by Evonik Industries is considered as major development activity which was undertaken at USD 630 million in December, 2016. Due to aforementioned market development activities, the overall competition in this market has increasing year by year and the industry players have seen fighting for global leadership resulting into superior product innovation. Taking into account the overall effect of market competition, it has raised the global demand for fumed silica.

Taking into account the current scenario, it can be concluded that emerging application of fumed silica in drug production and growing competitive rivalry collectively resulting into increasing adopting of fumed silica. It altogether has set to its enhanced consumption and turns to demand driver.

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