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Global Fumed Silica Market growing at a CAGR of 4.3% from 2023 to 2031

Category : Materials And Chemicals | Published Date : Sep 2023

Key Market Overview

Consegic Business Intelligence analyzes that the fumed silica market is predicted to grow at a compound annual growth rate of 4.3% from 2023 to 2031 and is expected to reach USD 2,135.88 million in 2031 and 1,524.58 million in 2023 which was valued at USD 1,470.67 million in 2022.

The report highlights the significant growth in infrastructure development and urbanization projects across the globe, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the fumed silica market.

Global Fumed Silica Market By Overview

Global Fumed Silica Market

The fumed silica market is bifurcated into type and application. Based on type, the market is segmented into hydrophobic and hydrophilic. In 2022, the hydrophilic segment dominated the overall fumed silica market. Based on application, the market is categorized into cosmetics, printing inks, silicone rubber, paints and coatings, food and beverages, adhesives and sealants, pharmaceuticals, and others. In 2022, the adhesives and sealants segment accounted for the highest market share in the fumed silica market.

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Market Dynamics

Driver:

 

  • Increasing adoption of fumed silica in processed foods and beverages is accelerating the market growth.
  • Rapidly growing automotive industry has augmented the demand for fumed silica.

 

Restraints:

  • Availability of substitutes is likely to restrict the fumed silica market growth.

Market Segmentation:

Report Attributes Report Details
By Type Hydrophobic and Hydrophilic
By Application Cosmetics, Printing Inks, Silicone Rubber, Paints and Coatings, Food Additives, Adhesives and Sealants, Pharmaceuticals, and Others
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Landscape :

The market is dominated by certain major companies such as Cabot Corporation, Evonik Industries AG, and PCC GROUP, which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the fumed silica market is expected to witness substantial growth in the coming years due to the increasing demand for high-performance coatings and hybrid sealants from the construction industry. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.

  • Cabot Corporation
  • Evonik Industries AG
  • PCC GROUP
  • Merck KGaA
  • Tokuyama Corporation
  • Astrra Chemicals
  • Oрiсіл
  • Zhejiang FuShiTe Group Co., Ltd
  • OCI COMPANY Ltd
  • Kemitura Group A/S
  • China-Henan Huamei Chemical Co.,Ltd.
  • Hubei Huifu Nanomaterial Co., Ltd.