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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Colloidal Silica Market size was valued at US$ 825.0 million in 2022 and is poised to grow at a significant CAGR of 4.5% over 2023-2029. According to estimates, several pharmaceutical corporations will pay attention to this element. When making pharmaceutical tablets like those for paracetamol and animal medicines, colloidal silica is frequently used as an active chemical ingredient. It increases the stability of specialized APIs, active pharmaceutical ingredients that are moisture sensitive. Additionally, the substance is frequently used in the tablet-making process as a glidant, disintegrant, anti-caking agent, and absorbent to facilitate the hassle-free flow of powder. According to estimates, players in the worldwide colloidal silica market will seize the untapped opportunity. Furthermore, in water-based coatings and paints, colloidal silica is used as a solvent. The product is perfect for usage in a variety of applications in both wet and dry environments, lessening the impact on the environment. The paints and coatings sector are estimated to adopt a greener strategy. As a result, market participants invest a lot in the paints and coatings industry to obtain a competitive edge. In the decades to come, this aspect is projected to encourage the expansion of the worldwide colloidal silica market. Another perspective end-use for colloidal silica is in the electronics and semiconductor industries. Moreover, manufacturing is where colloidal silica is primarily used. Since the advent of 3D printing technology, there has been a notable rise in the use of colloidal silica in the manufacturing sector due to the investment casting technique used to create complex parts for the military, aerospace, medical, jewelry, airline, automotive, and golf clubs. This has helped to drive the global colloidal silica market.
Study Period
2023 - 2029Base Year
2023CAGR
4.5%Largest Market
Asia PacificFastest Growing Market
North America
The rise in demand for rubber, paints, and coatings across numerous industries, including construction and electric vehicles, is credited with driving the expansion of the colloidal silica market. The tire industry is likely to benefit from a significant increase in the manufacturing of electric vehicles (EVs), which is anticipated to have a beneficial impact on demand for silica. Additionally, the market may be constrained by alternatives and the slow growth of sectors like paint and paper.
The colloidal silica market in Asia Pacific is likely to hold a significant revenue share in 2021, and, in the following years, it is predicted to increase rapidly. Production of tires is expected to increase significantly due to the region's rising nations' growing economies. Additionally, the coatings business is likely to expand due to increased construction activity in the area. In terms of revenue, North America had the second-largest share in 2021. The region's nations are investing in building inexpensive homes, which is anticipated to increase demand for paints and coatings. For instance, the Canadian government committed USD 10 billion to the overall housing plan over the following five years in April 2022. One of the important markets for specialized silica is Europe. The region's product demand is driven by several businesses, including those in the pharmaceutical, automotive, FMCG, and high-end luxury goods sectors.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2023 - 2029 |
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Market Size in 2022 |
US$ 825.0 million |
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Market CAGR |
4.5% |
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By Product Type |
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By Application |
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By Region |
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The colloidal silica market is projected to expand at a CAGR of 4.5% during the forecast period.
FUSO CHEMICAL CO., LTD., Zhejiang Yuda Chemical Co., Ltd., CABOT CORPORATION, Evonik Industries AG, MERCK KGaA
Asia Pacific is the fastest-growing region for colloidal silica market
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.