Global Market Insights, Inc. has recently added a report on Fumed Silica Market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.
Fumed silica market share is expected to depict a major rise owing to extensive usage in various end-use industries. Fumed silica provides superior performance and benefits for several industrial applications including coatings, adhesives, food additives, defoamers, cosmetics, and inks.
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This product has become one of the most vital and frequently used pharmaceutical excipients. Fumed silica helps in improving the properties of several drugs and capsules along with enhancing drug manufacturing techniques.
Listed below are some key factors expected to impact fumed silica market outlook over the coming years:
• Focus on improving drug production techniques
The popularity of pyrogenic silica as a pharmaceutical excipient is increasing swiftly as it aids in enhancing drug capabilities while maintaining reliability and cost-efficiency within the drug production process. During capsule and tablet manufacturing, fumed silica prevents irregular flow and maintains productivity and quality.
Pharmaceutical companies are investing a massive amount in R&D activities to expand their production capacities and meet consumer demand without comprising the quality. Hydrophobic silica segment is anticipated to witness over 5.5% CAGR between 2019-2025. Increased focus on enhancing drug manufacturing techniques will bolster fumed silica market forecast.
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• Growing construction activities worldwide
Unsaturated polyester resins (UPRs) has become one of the most important polymers and commonly used in the construction sector. The product is mainly used for inducing viscosity adjustment and thixotropic behavior and can be efficiently integrated into these resins by the addition of pyrogenic silica.
These resins are extensively popular in the building and construction segment and used in roofing tiles, pipes, cladding panels, and bathroom furniture. Their potential for exterior use on buildings provides numerous possibilities for a new and varied range of composite building materials.
Adhesives & sealants segment is expected to witness over 4.5% CAGR over the forecasted timeline. Growing infrastructure spending in both developed and developing economies is expected to boost the consumption of UPRs products, propelling fumed silica market size in near future.
• Increased demand for adhesives and sealants
Reports estimate that paints, coatings & inks application segment is expected to consume over 50-kilo tons of fumed silica by the end of 2025. The paint and coatings sector makes higher utilization of this polymer as it is used to control the growth of corrosion and rust. The strong growth is attributed to surge in the product deployment for enhancement of thixotropic and rheological abilities within paints and coatings.
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In addition, fumed silica is also used in several adhesive and sealant for improving rheological and reinforcement properties. Fumed silica is a versatile product and efficient additive for adhesives and sealants.
Growing consumption of adhesives & sealants in construction for eliminating corrosion and provide tight bonds between close-fitting surfaces, paired with evolution of automotive sector, will certainly expand fumed silica industry size.
• Booming food and beverage sector in North America
In terms of the regional landscape, North America fumed silica market size will witness significant revenue growth over the estimated timeline. Driven by the extensive developments prevalent across the end-use segments such as pharma and food additives, fumed silica industry share is likely to amass substantial gains in the years ahead.
Food and beverages segment is anticipated to register around 3.5% CAGR over the projected timeframe, globally. U.S. will account for a substantial share of fumed silica market due to higher consumption of packaged food.
According to European Federation of Pharmaceutical Industries and Associations, North America had registered approximately half of global pharmaceutical sales in 2018. The numerous benefits offered by fumed silica will accelerate its high adoption across industries including additives and sealants, cosmetics, and pharmaceutical.
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