Fumed Silica demand is propelled by Applications in Rubber Industry

-

Fumed silica, also known as pyrogenic silica, is an ultrafine, high-purity silica produced by flame hydrolysis of silicium tetrachloride vapor. It possesses characteristics such as low density, high porosity, and large surface area that makes it suitable for applications in industries like rubber, paints & coatings, food, personal care, and others. Key properties of fumed silica like reinforcing strength, controlling viscosity, and improving consistency makes it an important additive in rubber products like tires, hoses, gaskets, belts, seals.

The global fumed silica market size 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, according to a new report by Coherent Market Insights.

Market key trends:
The demand for fumed silica is majorly driven by growing rubber industry. Fumed silica is extensively used as reinforcement and viscosity controlling agent in rubber formulations including tires, industrial rubber goods, and other products. According to Rubber Manufacturers Association, global production of tires was estimated to be around 1.5 billion units in 2020 and is anticipated to grow at a moderate pace over the forecast period owing to recovery in automotive sector from COVID-19 impact. Increase in tire production will essentially boost the consumption of fumed silica. In addition, rising applications of fumed silica in sealants, adhesives, coatings will continue to support the market growth over the forecast period.

Segment Analysis

The global fumed silica market size is dominated by the pyrogenated fumed silica segment as it finds wide applications in industries like coatings, adhesives, sealants, printing inks, etc. due to its high purity and surface area. The segment accounted for over 70% share in 2022 owing to pyrogenated fumed silica's ability to act as a thickening agent and reinforcing filler in various applications.

Key Takeaways

The global fumed silica market is expected to witness high growth over the forecast period of 2023 to 2030 supported by a CAGR of 5.6%. Regional analysis comprises Regional analysis related content: The Asia Pacific region dominated the global market in 2022 with a share of more than 40% and is expected to witness the fastest growth during the forecast period. This can be attributed to presence of key chemical industry and increasing demand from applications like coatings, adhesives & sealants, and electronics in emerging economies like China and India.

Key players related content comprises: 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. Evonik Industries and Wacker Chemie AG captured significant share of over 15% each owing to their expansive production facilities and product portfolios.

Comments

Post a Comment

Popular posts from this blog

The global Calcium Citrate Malate Market Growth Accelerated by Expanding Applications

-
Image
Calcium citrate malate is an essential mineral compound that provides calcium and supports bone health. Calcium citrate malate supplements help maintain healthy bones and teeth as we age. They support calcium absorption and distribution throughout the body. The global Calcium Citrate Malate Market is estimated to be valued at US$ 334.08 Mn in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The expanding applications of calcium citrate malate are expected to drive the market growth over the forecast period. Calcium citrate malate supplements are increasingly being used to prevent and treat osteoporosis. They are especially recommended for people who cannot digest lactose or avoid dairy products. The compound is also finding wider use in functional foods and beverages with added calcium and minerals. Manufacturers are developing various product formats like...
Read more

Labor Productivity Tracking Market Growth Accelerated by Remote Work and Digitalization Trend

-
Image
Labor productivity tracking solutions help businesses and organizations track employee productivity in real-time. These solutions offer features like time tracking, activity monitoring, goal setting, resource allocation, attendance logging, and analytics. They help enhance productivity by identifying opportunities for improvement, streamlining workflows, and ensuring employees are focused on tasks that add value. The global Labor Productivity Tracking Market is estimated to be valued at US$ 6.81 Billion in 2024 and is expected to exhibit a CAGR of 38% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The rapid adoption of remote work and digitalization trend across industries during the pandemic has been a major driver accelerating growth of the labor productivity tracking market. Many organizations have now accepted work from home and hybrid work models. Labor productivity tracking solutions help employers...
Read more

Tamponades is fastest growing segment fueling the growth of the Global Vitreous Tamponades Market

-
Image
The global Vitreous Tamponades Market is estimated to be valued at US$ 83.89 Mn in 2023 and is expected to exhibit a CAGR of 2.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market Overview : Vitreous tamponades are substances used to seal retinal breaks and provide internal tamponade during vitrectomy surgeries. They help stabilize the retina and promote posterior vitreous detachment. The different types of tamponades include gases, silicone oils and perfluoro-n-octane. Market key trends : One of the key trends in the market is the preference for non-silicone tamponades over traditional silicone oils. Silicone oils have been commonly used but are difficult to remove and can cause complications. Newer tamponades such as perfluorocarbon liquids and gases provide effective internal tamponade with better removal properties. They minimize complications and improve surgical outcomes leading to their increased demand. Segment ...
Read more