Wilmington, Delaware, United States, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global nanosilica market is estimated to reach a value of US$ 55 Bn by the end of 2030, as per a research report by Transparency Market Research (TMR). In addition, the TMR assessment finds that the market for nanosilica is expected to grow at a CAGR of 7% during the forecast period, 2020-2030.
The global nanosilica market is anticipated to gain promising growth prospects during the forecast period owing to rise in the technological investments in the field of nanosilica manufacturing, including the utilization of rice husk ash for producing nanosilica. As per the Food and Agricultural Organization (FAO) of the United Nations, the global production of rice is around 700 million tons per year. This factor highlights prominent opportunity in order to develop silica from approximately 140 million tons of rice husk ash. Thus, the adoption of this technique is being rising in the recent years owing to its cost-effective nature, according to a TMR study on nanosilica market.
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Nanosilica Market: Key Findings
- Nanosilica refers to a nanomaterial produced on industrial scale for application as an additive to printer toners, food, and cosmetics. Moreover, the application of nanoparticles is being increasing for medical and industrial purposes, states a TMR review that covers insights on the nanosilica market share.
- Nanosilica used in combination with gold nanoparticles can help in absorption of carbon dioxide and light. Hence, this combination is gaining significant potential in desalinating seawater and solar energy harvesting, note analysts of a TMR study on the nanosilica market. Moreover, a surge in the utilization of nanosilica in nanocoatings is anticipated to drive the growth in the market, notes a TMR analysis that sheds light on the nanosilica market trends.
- Nanosilica is being increasingly utilized in SCMs for concrete. Conversely, the concept of cold weather concreting is linked to several challenges, such as in concrete placement for application in different construction-related uses, notes a TMR review that delivers insights on the nanosilica market size. Thus, players are strengthening their production capabilities in order to use nanosilica in concrete, due to its dynamic reactivity owing to its ultrafine surface area.
- Nanosilica provide sturdy and lightweight materials that can be utilized in the construction industry. Over the period of past few years, the use of nanotechnology is being increasing in paints and coatings in order to make surface materials stronger and more resistant to heat and abrasions, notes a TMR assessment that offers inclusive data on the nanosilica market growth factors.
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Nanosilica Market: Growth Boosters
- Increase in the medical and industrial utilization of nanoparticles is expected to help in expansion of the nanosilica market size during the forecast period
- Surge in the use of nanosilica in nanocoatings across the globe is fueling the growth of the nanosilica Market
Nanosilica Market: Regional Analysis
- Asia Pacific is one of the prominent regions offering profitable prospects for the market players
- The expansion of varied end-use industries such as rubber, coatings, food, agriculture, healthcare & medicine, and concrete industry is creating lucrative avenues in the Asia Pacific market
- Rise in the technological advancements in the region is prognosticated to drive the expansion of the Asia Pacific nanosillica market
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Nanosilica Market: Key Players
Some of the key players profiled in the report are:
- Normet
- Evonik Industries
- Bhd
- Nanosil (Asia Pacific) Sdn
- Wacker Chemie AG
- US Research Nanomaterials, Inc.
- NanoPore Incorporated
Nanosilica Market Segmentation
Product
- P-Type
- S-Type
Application
- Cement & Concrete
- Medical
- Paints & Coatings
- Semiconductor
- Cosmetics
- Glass & Ceramics
- Rubber & Plastic Additives
- Others (including Magnetic Materials and Agriculture)
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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