Selbyville, Delaware, Oct. 14, 2019 (GLOBE NEWSWIRE) --
Fumed Silica Market is set to hit US$ 1.5 billion revenue by 2025, according to a forecast research by Global Market Insights, Inc. Fumed silica offers multi-purpose benefits in many products including tablets, capsules, cosmetics, adhesives, paints, coatings, inks, personal care products, resins, food products, electronics, etc. It can be used as a thickening agent, rheology modifier, anti-caking agent, desiccant, viscosity controller, anti-sagging agent, etc. for improving performance characteristics of various products.
Use of fumed silica to resolve drug production issues will augment the industry growth
Rising need to improve drug manufacturing techniques along with enhancing performance characteristics of various drugs and capsules will trigger the fumed silica market. One of the major hurdles faced by pharmaceutical industries is to produce various drugs & tablets of uniform quality. The product is used as an additive in drug production process to improve flow properties and resolve compaction & non-uniformity issues. It facilitates rearrangement of particles and increases bond strength within tablets & capsules. In addition, it prevents bridging and helps in reducing static & friction charges. Pharmaceutical companies are spending huge amount of money in research & development programs in order to streamline production processes and achieve cost control. This will boost pharmaceutical production thereby increasing product sales in near future.
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Positive outlook of unsaturated polyester resins will augment the fumed silica market share
Unsaturated polyester resins (UPRs) in pure form lack in optimum level of viscosity and thixotropic characteristics. Desired viscosity, thickening effect and thixotropic nature can be efficiently incorporated into these resins by addition of pyrogenic silica. These resins are popular in building & construction sector and used in pre-fabricated buildings, roofing tiles, cladding panels, pipes, bathroom furniture, etc. Increasing residential, commercial & infrastructure construction activities all over the world will accelerate the pace of UPR consumption in future. Such trends will positively influence product sales during the forecast time span.
Availability of substitutes pose significant threat to fumed silica market
Few industrial manufacturers prefer precipitated silica as an additive in production processes as it is less costly and easily available in the market. High costs associated with the product may affect consumer perception thereby hindering its popularity. Additionally, proper care must be taken during warehousing and usage of the product.
Hydrophilic silica will capture majority of market share owing to wide range of applications within the forecast period. This silica is untreated and can be dispersed in water whereas hydrophobic silica cannot be dispersed in water. It is used to impart thickening and reinforcing characteristics in silicones. Hydrophobic silica is expected to grow with a CAGR more than 5.5% CAGR between 2019 to 2025.
Browse key industry insights spread across 220 pages with 284 market data tables & 20 figures & charts from the report, “Fumed Silica Market Size By Product (Hydrophilic, Hydrophobic), By Application (Pharmaceutical, Beauty & Personal Care, Silicone Elastomers, Paints, Coatings & Inks, UPR, Adhesives & Sealants, Food & Beverages), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/fumed-silica-market
Paints, coatings & inks segment is likely to cross 50 kilo tons at the end of 2025. The strong growth is attributable to increasing product usages for improvement of rheological and thixotropic abilities within paints & coatings. It prevents sagging effect in paints applied on vertical surfaces and minimizes possibility of coating deterioration.
The product is added into adhesive & sealant formulations for inducing reinforcement and rheological properties. Adhesives & sealants will grow at a CAGR over 4.5% between the forecast time period. Increasing consumption of adhesives & sealants in construction and automotive sectors will bolster the product growth in upcoming years.
Fumed silica market from food & beverages will grow at a CAGR around 3.5% between 2019 to 2025. The product aids in improving flow properties while ensuring quality of food products. It prevents formation of caking and helps to maintain shelf life. Moreover, it acts as flavor masking agent and assists in cost savings.
North America will be one of the key regions in fumed silica consumption
North America fumed silica market will capture considerable revenue share within the projected time period. The strong growth is mainly due to rapidly growing regional pharmaceutical sector. According to European Federation of Pharmaceutical Industries and Associations, North America accounted for nearly half of global pharmaceutical sales in 2018. Promising growth trends associated with pharmaceutical production will catapult the growth of pyrogenic silica in near future.
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Major producers are focusing on production capacity expansion
Evonik Industries AG, Cabot Corporation, Wacker Chemie AG, Tokuyama Corporation, OCI Company Ltd. are major manufacturers in fumed silica market share. In December 2016, Wacker Chemie AG established a new production plant of fumed silica in the U.S. It has annual production capacity of 13,000 metric tons and will help to strengthen company’s position in regional market.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.