Increasing demand for nanotechnology & colloidal silica and advancement in manufacturing processes are expected to drive the demand for the colloidal silicas 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.
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The global colloidal silicas market is segmented based on product type, application type, end-user industry type, regional distribution, and competitive landscape.
Based on product input, the 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% in 2021. Among all categories, it is widely available in a diverse range of metal polishing, semiconductor wafers, and fine-polishing silicon wafers.
Based on the end-user industry, the market can be fragmented into electronics & semiconductors, paints & coatings, construction, pulp & paper, pharmaceuticals, and automotive. 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 the global colloidal silicas 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.
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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 the manufacturing process is expected to drive the global colloidal silicas 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 Silicas Market.
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