Colloidal Silica Market Expected to Reach US$ 1.56 Billion by 2033 : Fact.MR Study

Investment Castings Account for Bulk of Colloidal Silica Demand Worldwide

Rockville , Oct. 31, 2023 (GLOBE NEWSWIRE) — As of 2023, the global colloidal silica market stands at a value of US$ 1.01 billion and is forecasted to reach US$ 1.56 billion by the end of 2033. This study by Fact.MR, a market research and competitive intelligence provider, predicts that colloidal silica companies will target Europe and East Asia to maximize their revenue generation in the future.

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Expanding colloidal silica use in a plethora of applications across several different industry verticals is the key prospect driving colloidal silica demand growth on a global scale. For instance, colloidal silica is being used in automotive tire production and chemical mechanical planarization (CMP) applications. Increasing awareness regarding the benefits of colloidal silica and high investments in research to create new colloidal products are also creating new opportunities for colloidal silica companies going forward.

Colloidal silica manufacturers are focusing on increasing their manufacturing capacity to satisfy the rising demand across the world as the application scope of colloidal silica expands across different industry verticals.

• In February 2020, W. R. Grace & Co., an American chemicals producer and supplier, announced the opening of its new colloidal silica plant at the company’s R&D and manufacturing site in Worms, Germany. The launch of this new 8,200 square-meter plant allowed the company to double the production capacity of LUDOX, the company’s leading colloidal silica product.

Key Takeaways from Market Study

• The global colloidal silica market is estimated at US$ 1.01 billion in 2023.
• Demand for colloidal silica is projected to expand at a CAGR of 4.1% from 2023 to 2033.
• The market is forecasted to attain a revenue of US$ 1.56 billion by 2033-end.
• Increasing construction activity, growing demand for semiconductor manufacturing, surging sales of electronics, and increasing spending on colloidal silica R&D are projected to be key market drivers.
• High volatility in raw material pricing and slow drying of colloidal silica are slated to be major restraints for market growth in the long run.
• Colloidal silica demand in Europe is forecasted to reach a valuation of US$ 485.7 million by 2033-end.
• Sales of acidic colloidal silica stand at US$ 407.4 million in 2023.
• Shipments of colloidal silica in East Asia are estimated to rise at 4.9% CAGR over the next ten years.
• Colloidal silica sales in China are forecasted to reach US$ 282.5 million by the end of the study period (2023 to 2033).
• Demand for colloidal silica in investment casting applications holds 28.6% share of the global market in 2023.

“Colloidal silica companies should invest in R&D to broaden the application scope of their products and improve their revenue generation potential going forward,” says a Fact.MR analyst

Key Companies Profiled in This Report

• Cabot Corporation
• Solvay SA
• PPG Industries Incorporated
• Ecolab Incorporated
• Evonik Industries
• Imreys SA
• Nouryon (Akzo Nobel)
• W R Grace
• Adeka Corporation
• Elkem Chemical Industries
• Nissan Chemical
• Merck Global

Winning Strategy

Colloidal silica companies should focus on expanding their production capacity to meet the rising demand for colloidal silica as this would be crucial in helping them rake in revenue to fund their other expansion efforts. Colloidal silica suppliers can also advertise their products as eco-friendly to improve their sales potential and boost business scope on a global level going forward.

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Country-wise Insights

For what Reason Is the US Market a Proper Fit?

“Increasingly Using Colloidal Silica in a Variety of Applications”

The United States is expected to see a significant increase in shipments of colloidal silica in the future due to the country’s constantly growing construction activity. Over the next ten years and beyond, it is anticipated that the United States will see a rise in sales of colloidal silica due to the high demand for scratch-resistant flooring in various construction projects and the growing application of colloidal silica in floor coatings.

By the end of the study period, the United States’ colloidal silica shipments are expected to generate US$ 295.9 million in revenue.

Manufacturers of colloidal silica are concentrating on increasing their production capacity in order to meet the growing demand and enhance income creation in the US coming forward.

The American supplier of specialty chemicals Nouryon stated in November 2021 that it will begin a new project to expand the facility in Green Bay, Wisconsin, USA’s ability to produce colloidal silica for products sold under the Levasil brand. The corporation made the change in an attempt to supply the rapidly increasing demand for colloidal silica in the North American market.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global colloidal silica market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights on the market based on formulation (acidic, alkaline), particle size (up to 50 nm, 51 to 100 nm, above 100 nm) and application (catalysts, electronics, construction, coatings, investment castings, refractories, others), and across six major regions of the world (North America, Europe, Latin America, East Asia, South Asia & Oceania, and the Middle East & Africa).

Explore More Related Studies Published by Fact.MR Research:

High Purity Silica Market: The global high-purity silica market is anticipated to reach USD 1.64 billion in 2032.

Fumed Silica Market: The global fumed silica market is anticipated to be valued at US$ 1.3 billion in 2022 and expand at a CAGR of 5% to reach a market size of US$ 2.1 billion by the end of 2032.

Fused Silica Market: The fused silica market is estimated at USD 2,034 million in 2022 and is forecast to reach USD 3,474 million by 2032, growing with a CAGR of 5.5% from 2022 to 2032.

About Fact.MR:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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