Colloidal Silica Market to Register a CAGR of 5.07% During the Forecast Period
Increasing demand for nano
technology & colloidal silica and advancement in manufacturing process are
expected to drive the demand for colloidal silica market in the forecast
period, 2023-2027.
According to TechSci Research
report, “Colloidal Silica Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, The global colloidal silica
market stood at
USD 801.74 million in 2021 and is expected to grow at a CAGR of 5.07%. In every business or
organization, there are a few things that are required in every industry for
smooth functioning. Colloidal silica is required by almost every sector for
different purposes, and therefore this product has an impressive market share.
Colloidal silica can be used as surface toner and cleaner in paper industries
and used as a supplement for polish, coating, and paints to enhance its weather
and abrasion resistance in paint industries, extra add-on in cosmetics and food
industries, the active chemical ingredient in medicines such paracetamol and
other treatment, used in automobile industries for better resistance, for
making green tires and many more.
Owing to the rapidly
growing population needs, the demand for medicine, mobiles, cars, defense
equipment, and other things increases. All of these industries regularly use
colloidal silica for different purposes. Thus, it is expected that the demand
for colloidal silica is going to increase during the forecast period.
Browse over 111 market
data Figures spread through 110 Pages and an in-depth TOC on "Global
Colloidal Silica Market"
The global colloidal
silica market is segmented based on product type, application type, end user
industry type,
regional distribution, and competitive landscape.
Based on product
input, market is split into Alkaline Colloidal Silica, Acidic Colloidal Silica,
Modified Colloidal Silica, and Ordinary Colloidal Silica. Alkaline Colloidal
Silica had the largest market share of 69.38% 2021. Among all categories, it is
widely available in a diverse range of metal polishing, semiconductor wafers,
and fine polishing of silicon wafers.
Based on end user
industry, the market can be fragmented into electronics
& semiconductors, paints & coatings, construction, pulp & paper,
pharmaceuticals, and automotive. The electronics & semiconductors had
the highest market share of 23.38% in 2021. In the automobile sector, colloidal
silicon is needed for many parts, from paints to semiconductors. Panels to
tires all need products that need colloidal silica during manufacturing.
Government policies and benefits of green tires are directly increasing the
share of the colloidal silica market.
Major
companies operating in global colloidal silica market are:
·
W. R.
Grace & Co.-Conn
·
Akzo
Nobel N.V (Nouryon Holding BV)
·
Merck
KGaA
·
ADEKA
Corporation
·
Allied
High-Tech Products, Inc.
·
Nissan
Chemical Corporation
·
The Dow
Chemical Company
·
Cabot
Corporation
·
Evonik
Industries AG
·
Fuso
Chemical Co., Ltd.
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“The
Asia-Pacific region dominates the market and is expected to maintain its
dominance during the forecast period because this region consists of developing
economies and has a high population.
Ongoing development projects, the highest share of manufacturing units,
and increasing demand for goods that require colloidal silica products directly
impact the growth of the market share. Asia-Pacific region is one of the biggest silicon
producers and utilizer making this market more lucrative in terms of market share. Countries
in this region are receiving more FDI from western companies to increase
colloidal silica production as well as utilization and import. Increasing
demand for nanotechnology & colloidal silica and advancement in
manufacturing process is expected to driver the global colloidal silica market growth
till 2027.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Colloidal Silica Market- Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2017-2027, By Product Type (Alkaline
Colloidal Silica, Acidic Colloidal Silica, Modified Colloidal Silica, Ordinary
Colloidal Silica), By Application (Precision Investment Casting, Catalysts,
Refractories, Batteries, Others), By End User Industry (Electronics &
Semiconductors, Paints & Coatings, Construction, Pulp & Paper,
Pharmaceuticals, Automotive, Others), By Region,”
has evaluated the future growth potential of Global Colloidal Silica Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Global Colloidal Silica Market.
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