New York, NY -- (SBWIRE) -- 12/10/2018 -- The Fact MR published market report titled 'Fumed Silica Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028' examines the fumed silica market and offers crucial market insights for the next ten years. According to Fact MR analysis, the global sales of fumed silica is estimated to be valued at US$ 1,095.5 Mn by the end of 2018 and is expected to register a 4.9% CAGR over the period, 2018–2028. This report divulges the demand for fumed silica and its break-up on the basis of different types and applications.
The global fumed silica market is expected to witness significant growth in the coming years, owing to the growing demand from various applications in industries such as paint and coating and polymer and plastic. The application of fumed silica as an anti-sedimentation agent in silicone rubber production is expected to register healthy growth in terms of demand. Silicone rubbers are enjoying high importance in several end-use industries such as electronics and adhesives and sealants, among others, which in turn is expected to boost the sales of fumed silica. Additionally, due to the conductive properties of silicone rubber, its demand in the automotive industry is increasing gradually as it indirectly helps in enhancing fuel efficiency and reducing emissions.
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However, some of the end-use industries of fumed silica such as automobile represent cyclic behavior in terms of demand. The cyclic nature of the end-use industries is expected to hamper the growth of the fumed silica market up to a certain extent.
The hydrophobic fumed silica segment is expected to dominate the global fumed silica market on the basis of type over the forecast period. Hydrophobic fumed silica is treated with various silicones and attributing to this, the demand for hydrophobic fumed silica is expected to grow significantly in silicone rubber and paint and coating applications. Silicone rubbers find a wide range of applications in construction, automobile and polymer and plastics industries. The polymer and plastic industry grew 3.8% in terms of production in 2016 as reported by Plastics Europe. The growth in the production of plastics and polymers is one of the key driving factors for the demand for silicone rubbers, which in turn will have a deep impact on the growth of the hydrophobic fumed silica market growth.
Hydrophobic fumed silica also witnesses high demand form the paint and coating industry, owing to its corrosion protection and pigment stabilization characteristics. The paints and coatings industry, which was reported to be valued at around US$ 145 Bn in 2017, is expected to provide lucrative opportunities for the growth of the hydrophobic fumed silica demand over the forecast period.
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Regional Market Projection
On the basis of region/country, China is anticipated to dominate the global fumed silica market over the forecast period. The fumed silica market in China is expected to grow significantly with a CAGR of 8.2% in terms of value. China is an abundant and economical source of raw materials, owing to which the production of fumed silica is higher in the country. However, trade tariffs and anti-dumping duty imposed by North America and Europe have affected the sales of fumed silica from China to various countries in the regions. Additionally, India is expected to witness higher growth after China. The growth of the plastic and polymer industry in India is expected to further drive the fumed silica market in the near future.
Global Fumed Silica Market Competitive Landscape
Some of the players reported in this study on the global fumed silica market include Cabot Corp, Evonik Industries AG, Wacker Chemie AG, DowDuPont Inc., Tokuyama Corporation, OCI Company Ltd, Gelest Inc., China National Bluestar (Group) Co., Ltd, Henan Xunyu Chemical Co., Ltd and Cargil Inc., among others.
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