Fumed silica, also known as pyrogenic silica, is a white, synthetic, amorphous form of silicon dioxide produced by flame hydrolysis of silicon compounds. Fumed silica is commonly used as a reinforcing and thickening agent in various types of polymers, elastomers, resins, coatings, cosmetics, food & beverages and pharmaceuticals. It has properties like anti-caking, abrasive, bulking agent, reinforcing and thickening in nature. Fumed silica products are mainly used in the coatings industry for applications such as paints, varnishes and industrial coatings to improve the durability and shelf-life of these products.
The global fumed silica market is estimated to be valued at US$ 1.23 Bn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Rising demand from the paints and coatings industry is one of the key trends driving the growth of the global fumed silica market growth. Fumed silica is extensively used in various paints and coatings formulations to improve their opaqueness, durability and shelf-life. Due to its nanometric particle size, fumed silica provides benefits such as improved hiding power, scrub and wear resistance when added to architectural and automotive paints. It enhances the reinforcing properties of latex coatings systems, enabling formulators to achieve demanding performance specifications with lower resin contents. Increasing construction activities along with rising automobile production across developed as well as developing nations are resulting in higher consumption of fumed silica in these end-use industries.
SWOT Analysis
Strength: Fumed silica have strong surface area, enhanced flow properties and reinforcing capabilities which makes them suitable for various industrial applications. It also offers opacity, durability and reinforcement in applications.
Weakness: Fumed silica manufacturing process requires high energy and capital intensive which increases the production cost. Exposure to fumed silica may cause respiratory issues to workers.
Opportunity: Increasing demand from coatings, adhesives, sealants industry due to growth in construction and automotive sector. Rising application in personal care products due to skin benefits provide growth opportunities.
Threats: Stringent regulations regarding carbon emissions during production and availability of substitutes may threaten growth. Fluctuations in raw material prices also impact the market.
Key Takeaways
The global fumed silica market is expected to witness high growth over the forecast period of 2023 to 2030. Asia Pacific region dominates the market currently due to presence of key manufacturers and high demand from coatings and construction industries in China and India.
Regional analysis: Asia Pacific accounts for largest share of around 35% of the global fumed silica market due to growing construction activities in China and India. China is the largest producer and consumer of fumed silica globally. Europe is second largest region driven by automotive and construction industries in Germany, UK and Italy.
Key players: Key players operating in the fumed silica market are Applied Material Solutions Inc., Cabot Corporation, Chifeng Shengsen Silicon Technology Development Co. Ltd, China-Henan Huamei Chemical Co. Ltd, Dalian Fuchang Chemical Co. Ltd, Dongyue Group Co. Ltd, Evonik Industries, Gelest Inc., Heraeus Holding, Kemitura AS, OCI Company Ltd, Tokuyama Corporation, and Wacker Chemie AG. The market is consolidated in nature with top players accounting for majority share.
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