Fumed silica also known as pyrogenic silica is primarily used as a reinforcing filler in elastomers and plastics. Fumed silica is highly branched and contains aggregates in a three dimensional, interconnected, skeletal structure. It is widely used within the adhesives, sealants, paints and coatings, inks, and food additives industries due to its unique properties like high porosity, surface area and viscosity control. The global fumed silica market exhibits high demand for silica fume from the paints and coatings industry.
The global Fumed Silica Market is estimated to be valued at US$ 4.5 Billion in 2023 and is expected to exhibit a CAGR Of 10% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The flourishing paints and coatings industry globally is driving the demand for fumed silica exponentially. Fumed silica functions as a reinforcing filler and rheology control agent in paints and coatings. It enhances properties like abrasion resistance, durability, scrubability, hardness and gloss retention of paints. Furthermore, it improves the application properties of paints making them easy to apply. With rising infrastructure development and construction activities across both developed and developing regions, demand for paints and coatings will surge thereby pushing the demand for fumed silica as well.
Segment Analysis
The fumed silica market is segmented based on type as hydrophilic and hydrophobic. The hydrophilic fumed silica segment currently dominates the market owing to its wide application in industries such as paints & coatings, pharmaceuticals, food & beverages and personal care. Hydrophilic fumed silica possesses properties like thickening ability, thixotropy, and reinforcing properties which make it suitable for use in various industries.
Key Takeaways
The Global Fumed Silica Market Demand is expected to witness high growth during the forecast period of 2024 to 2031.
Regional analysis:
The Asia Pacific region currently accounts for the largest share in the global fumed silica market and is projected to maintain its leading position throughout the forecast period. This can be attributed to the burgeoning end-use industries such as paints & coatings, pharmaceuticals and personal care in the region. Increasing population, rising disposable income and changing lifestyle in developing nations including China and India offer immense opportunities for market players in the region.
Key players operating in the fumed silica market are Cabot Corporation, Wacker Chemie AG, Evonik Industries AG, Tokuyama Corporation, Orisil, OCI Company, Kemitura A/S, Blackcat, Guangzhou GBS High-Industry, and Changtaihe.
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