Global Fumed Silica Market will grow at a CAGR of 7.2% during the forecast period of 2017 - 2024, According New Research Report
Global
Fumed Silica Market, By Type (Hydrophilic, Hydrophobic);
Application(Paints & Coatings, Adhesives & Sealants, Pharmaceuticals,
UPR, Gel batteries, Lighting, others)By Geography (North America, Europe,
Asia-Pacific, Europe, South America, Middle East and Africa) – Industry
Trends and Forecast to 2024
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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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
Market
restraints:
- 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, WackerChemie
AG, and Tokuyama Corporation,China National Bluestar(Group) Co.,Ltd, Inner
Mongolia Sucon Silicone Co, Ltd., YichangCsgPolysilicon Co, Ltd, Dongyue Group
Ltd., HeraeusQuarglas GmbH & Co. Kg, Applied Material Solutions, Inc.,
Agsco Corporation, Fuji Silysia Chemical Ltd, Dalian Fuchang Chemical Co, Ltd.,
YichangCsgPolysilicon Co, Ltd and many more.
Market Segmentation
The fumed
silica market is segmented on the basis of type into hydrophilic fumed silica
and hydrophobic fumed silica. Hydrophobic fumed silica is expected to grow at
the highest CAGR over the forecast period.
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On the basis
of application, the market is segmented into paints & coatings, adhesives
& sealants, pharmaceuticals, UPR, gel batteries, lighting, others. Paints
& Coatings is expected to witness the highest demand from the automotive
sector over the forecast period.
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, Europe, Asia-Pacific and
Middle East & Africa. Some of the major countries covered in this report
are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey,
Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia,
South Africa, and Brazil among others. In 2017, Asia-Pacificis expected to
dominate the market.
Competitive Landscape
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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full Report Visit @http://databridgemarketresearch.com/reports/global-fumed-silica-market/
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