February 21, 2024
Fumed Silica Market

Fumed Silica to Aid Development of Novel Products in Paints and Coatings Industry

The Fumed Silica Market is estimated to be valued at US$ 1.23 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Fumed silica, also known as pyrogenic silica, is produced by burning silicon tetrachloride or polycrystalline silicon in an oxygen-rich environment. It is utilized as a reinforcing, absorbing, thickening, and abrasive agent in a variety of applications including paints & coatings, construction, adhesives & sealants, and healthcare due to its unique chemical and physical properties such as transparency, thickening ability, and superior reinforcement. Fumed silica helps provide lightweight, durable and scratch resistant properties to paints and coatings enabling its increasing usage in automotive refinish applications.

Market Dynamics:

Growing demand for chemical-resistant paints and coatings for construction and increasing utilization in automotive refinish segments is a major driver for the fumed silica market growth. Fumed silica when added into paints and coatings improves chemical resistance, durability, flexibility and enhances scratch resistance properties of the final product. It imparts excellent binding and reinforcing effects which improves the mechanical properties and weather resistance of the coatings. Furthermore, rising investments in infrastructure development projects across emerging economies acts as another driver as it creates significant demand for paints & coatings. Manufacturers are focusing on developing novel high performance coating solutions through application of nanotechnology and fumed silica, which is anticipated to present new avenues over the forecast period. However, availability of substitutes like precipitated silica and silica gel at lower costs remains a challenging factor.

Segment Analysis

Fumed silica market is segmented into pyrogenated silica and wet-process silica. Pyrogenated silica segment dominates the market and is expected to continue its dominance over the forecast period. Pyrogenated silica, also known as fumed silica, is produced through flame hydrolysis and results in novel properties like low bulk density and large surface area. These properties make it suitable for applications requiring reinforcement, thickening, thixotropy, and heat resistance; thereby driving the growth of this segment.

PEST Analysis

Political: Governments across regions are supporting the growth of end-use industries like paints & coatings, unsaturated polyester resins, and silicone rubber that use fumed silica. This is positively impacting the market growth.
Economic: Rising disposable income and growing construction activities are increasing the demand for products like sealants, adhesives, paints & coatings using fumed silica as a reinforcing and thickening agent.
Social: Increasing health awareness is propelling the demand for healthcare and personal care products that use fumed silica as an additive.
Technological: Advancements in downstream process technologies have enhanced the properties and applications of fumed silica. This is encouraging manufacturers to develop innovative product offerings.

Key Takeaways

The Global Fumed Silica Market Size is expected to witness high growth, exhibiting CAGR of 5.6% over the forecast period, due to increasing applications in end-use industries like automotive, construction, and healthcare. The market size is estimated to reach US$ 2.05 Bn by 2030 from US$ 1.23 Bn in 2023.

Regional analysis: Asia Pacific dominates the global market and is estimated to maintain its leading position throughout the forecast period. This can be attributed to rapid industrialization and growth of end-use industries in China, India, Japan, and South Korea.

Key players operating in the fumed silica market are Applied Material Solutions Inc., Cabot Corporation, Chifeng Shengsen Silicon Technology Development Co. Ltd, China-Henan Huamei Chemical Co. Ltd, Dalian, Fuchang Chemical Co. Ltd, Dongyue Group Co. Ltd, Evonik Industries, Gelest Inc., Heraeus Holding, Kemitura AS, OCI Company Ltd, Tokuyama Corporation, and Wacker Chemie AG. Key players are focusing on capacity expansions, acquisitions and new product launches to consolidate their market presence. For instance, in 2022, Cabot Corporation announced plans to expand fumed silica production capacity in Asia and Americas.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it