Pullulating Paints & Coating Industry Leading Demand for Fumed Silica
Rockville , May 25, 2023 (GLOBE NEWSWIRE) — Fact.MR, a market research and competitive intelligence provider, says that the global fumed silica market is estimated at US$ 1.3 billion in 2022 and is expected to expand at 5% CAGR between 2022 and 2032.
The paints & coatings segment is one of the primary application areas of fumed silica. The industrial coatings segment covers a gamut of industries, such as construction, automotive, and marine, among others. This factor is anticipated to push the demand growth for fumed silica over the coming years.
Get Free Sample Copy of This Report:
The application of fumed silica in paints & coatings for industrial and decorative use is estimated to witness vigorous growth during the projection period, primarily driven by steadily increasing disposable income and consumer spending, coupled with steady growth in industrial production (growth in automotive production, among others).
Key Takeaways from Market Study
- The global fumed silica market is estimated to be valued at US$ 2.11 billion by 2032, expanding at a CAGR of 5% from 2022 to 2032.
- Under application, the paints & coatings industry accounts for a major share in the market.
- Hydrophilic fumed silica rules the market and will account for the highest CAGR over the decade.
- North America dominates the global market with close to 30% market share in 2022.
“Thixotropic and anti-settling agent demand from the paints & coatings industry is estimated to supplement fumed silica sales growth,” says a Fact.MR analyst.
Key Companies Profiled This Report
- BASF SE
- Berry Global Inc.
- CI Takiron
- Exxon Mobil Corporation
- Dow Inc.
- RPC Group PLC
- RKW Group
- Trioplast Industries AB
- Achilles Corporation
- Ab Rani Plast Oy.
Get Customization on this Report for Specific Research Solutions:
Fumed silica manufacturers such as Evonik Industries AG, Cabot Corp., and others are strategically expanding their capacity to meet the increasing demand in the global market. Key capacity expansions have been announced in the Asia Pacific region. North America and Europe are also expected to witness decent growth in their respective regional capacities.
Increasing demand for fumed silica, majorly for applications in rubber (tires, footwear, industrial, and others), oral care, and electronics, is compelling leading market players to increase their worldwide production capacity. Further, product launch is also a key growth strategy that is gaining traction.
- In October 2021, Evonik established its new fumed silica plant in China in a joint venture with Wynca. The produced fumed silica is operated under the brand name AEROSIL.
- In June 2021, Evonik Industries AG has signed a purchase agreement to acquire privately-owned technology-driven company Infinitec Activos.
- In May 2021, Cabot Oil & Gas Corp. merged with Cimarex Energy in an all-stock deal that values the combined company at US$ 17 billion.
Segmentation of Fumed Silica Industry Research Report
- By Product Type :
- Hydrophilic Fumed Silica
- Hydrophobic Fumed Silica
- By Application :
- Silicone Rubber
- Paints & Coatings
- Unsaturated Polyester Resins
- Adhesives & Sealants
- Healthcare & Personal Care
- By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
Buy this Premium Research Report:
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global fumed silica market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product type (hydrophilic fumed silica, hydrophobic fumed silica) and application (fumed silica for silicone rubber, fumed silica for paints & coatings, fumed silica for unsaturated polyester resins, fumed silica for adhesives & sealants, fumed silica for healthcare & personal care, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Explore More Related Studies Published by Fact.MR Research:
Silica Slurry Market Outlook: The global silica slurry market is currently estimated at US$ 303.3 million and is anticipated to progress at a CAGR of 4.6% to reach a market valuation of US$ 475.6 million by the end of 2032.
Global Fused Silica Market Snapshot: 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 2022-2032.
Industrial Silica Sand Market Outlook: The global industrial silica sand market is set to enjoy a valuation of US$ 14.5 billion in 2022 and further expand at a CAGR of 4.6% to reach US$ 22.7 billion by the end of 2032.
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
US Sales Office
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Connect to Author: Mr. Yash Pathak
Sales Team: email@example.com
Follow Us: LinkedIn | Twitter | YouTube
- Icahn Enterprises L.P. Investor Notification: Kessler Topaz Meltzer & Check, LLP Announces July 10, 2023 Lead Plaintiff Deadline in Securities Fraud Class Action Lawsuit Filed against Icahn Enterprises L.P. - June 3, 2023
- FOX, FOXA INVESTOR NEWS: ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Encourages Fox Corporation Investors to Inquire About Class Action Investigation – FOX, FOXA - June 3, 2023
- Sutro Biopharma Announces Oral Presentation at ASCO 2023 Featuring Data for Luveltamab Tazevibulin from the Phase 1 Dose-Expansion Study in Ovarian Cancer and the Initiation of the Phase 2/3 Pivotal Study REFRaME-O1 - June 3, 2023