|03-05-2018 03:43 PM CET - Advertising, Media Consulting, Marketing Research||
Global Fumed Silica Market by Latest Trend, Share Analysis, Growth Rate, Application, Size and Forecast to 2024
Press release from: Data Bridge Market Research
The growth of this market is mainly attributed to the rising awareness regarding the benefits of Global Fumed Silica Market in varied applications (Paints & Coatings, Adhesives & Sealants, Pharmaceuticals, UPR, Gel batteries, Lighting, others) Owing to the increasing applicability of fumed silica, its demand is growing significantly across the North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa.
The Global Fumed Silica Market accounted for USD 1.50 billion in 2016 and is projected to grow at a CAGR of 7.2% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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The fumed silica market is segmented on the basis of type into
• Hydrophilic fumed silica
• Hydrophobic fumed silica
On the basis of application, the market is segmented into
• Paints & Coatings
• Adhesives & Sealants
• Gel Batteries
On the basis of geography, the fumed silica market report covers data points for 28 countries across multiple geographies such as
• North America
• South America
• Middle East & Africa
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Fumed silica is the type of silica that contains microscopic droplets of amorphous silica used worldwide as universal thickening agent and anticaking agent in powders. Also known as pyrogenic silica, it is used in several industries such as paints, coatings, adhesives, plastics, sealants, cosmetics, unsaturated polyester resins. Fumed silica is majorly used in the paints and coating industries, as the anti-settling agent.
Major market drivers:
• Growing pharmaceutical and construction industries
• Increasing awareness regarding the benefits of fumed silica
• Cost-effectiveness of fumed silica as compared to precipitated silica
• Growing popularity of the eco-friendly paints hampering the demand for fumed silica
• Stringent government regulations
Major Market Competitors
Some of the major players in the fumed Silica market include Evonik Industries, Cabot Corporation, Wacker Chemie AG, and Tokuyama Corporation, China National Bluestar(Group) Co. Ltd, Inner Mongolia Sucon Silicone Co, Ltd., Yichang Csg Polysilicon Co, Ltd, Dongyue Group Ltd., Heraeus Quarglas GmbH & Co. Kg, Applied Material Solutions, Inc., Agsco Corporation, Fuji Silysia Chemical Ltd, Dalian Fuchang Chemical Co, Ltd., Yichang Csg Polysilicon Co, Ltd and many more.
The global fumed silica market is highly fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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This release was published on openPR.
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