The global fumed silica market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each fumed silica market player in a comprehensive way. Further, the fumed silica market report emphasizes the adoption pattern of the fumed silica across various industries.
Fumed silica also known as pyrogenic silica has steadily gained traction in the last century. Owing to its pyrogenic production processes, fumed silica possesses an array of fascinating properties which have found widespread utilization in industrial applications. The emergence of trends in drug manufacturing, in tandem with performance improvements in drugs and capsules will additionally spur sales of fumed silica.
Although fumed silica companies continue to find opportunities in paints & coatings, healthcare and personal care products, it is silicone rubber that will expand profit pools of fumed silica manufacturers. Fumed silica for silicones rubbers is well positioned to dominate the demand pie and will capture close to 2/5th demand share by 2029 reveals Fact.MR, in a recently published report on global fumed silica market. As per report, global fumed silica market is projected to grow at a steady CAGR of around 5% and is forecast to surpass US$ 1.8 Bn by 2029 end.
Key Takeaways of Global Fumed Silica Market
Global fumed silica market is anticiapted to create a value opportunity of around US$ 9 Bn during the forecast period, adding 1.6X more value in 2029 as compared to 2019. Increasing demand for architectural coatings, followed by OEM coating applications, is expected to drive the hydrophobic fumed silica sales in the coming years. Despite losing slight market share by 2029, silicone rubbers have continued their dominance throughout the forecast period, however, paints & coatings and unsaturated polyester resins have been growing at a faster CAGR.
Request a Sample Copy of Concerned Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=2301
North America accounts for largest market share in global fumed silica market on the backdrop of remarkable development in regional rubber, paint & coating industries. China is showcasing highest penetrative reach in new markets and accounts for around one third share of overall sales in the global fumed silica market. Global fumed silica market is highly consolidated in nature, with Evonik Industries accounting for 35% – 40% share in the global fumed silica market in 2019.