December 27, 2019
As per the latest study titled ‘Fumed silica market size By Product (Hydrophilic, Hydrophobic) By Application (Pharmaceutical, Beauty & Personal Care, Paints, Coatings & Inks, Silicone Elastomers, Adhesives & Sealants, UPR, food and Beverages), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global fumed silica market is projected to surpass US $1.5 billion by the year 2025.
Robust developments in pharmaceutical industry is a pivotal factor positively influencing the use of fumed silica, as it improves the strength and uniformity in tablets. It assists in balancing the moisture and rheology control of several drugs. Moreover, the product is extensively used as a flavor masking agent and for coating the tablets. Fumed silica assists in superior productivity and resolving of manufacturing concerns. Surging detection of crucial diseases coupled with the need to advance the healthcare solutions to render reliable, safe and cost-effective treatment will supplement the pharmaceutical production over the forecasted timeframe.
With respect to the types of application, silicone elastomers have gained widespread demand over the years due to their rheological abilities and improved mechanical strength. Fumed silica assists in ensuring a glossy and transparent appearance along with ensuring enhanced heat stability. On other hand, fumed silica is increasingly used in paint and coatings industry in order to render resistance from corrosion, anti-sagging effect and thixotropic and rheological properties. Surging demand for silicone elastomers and amplifying paints & coatings industry will positively influence the overall market trends.
Elaborating further on application scope, pharmaceutical, beauty and personal care sector is expected to account for one-third of volume share by the end of 2025. Proliferating use of the product by pharmaceutical manufacturers will propel the sale of the product. In personal care and beauty products, fumed silica is used as an anti-caking and antiperspirant material. Rising disposable income across the globe has steered the consumption of cosmetics thereby magnifying fumed silica industry landscape.
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In terms of geographical expansion, Asia Pacific fumed silica market is anticipated to register notable gains over the period of study. Rapid expansion in the manufacturing sector to meet the burgeoning demands from the people coupled with stimulated policies established by the government will add impetus to the industry growth in the coming years. Parallelly, Europe will hold 15% volume share of fumed silica market by the year 2025, due to the constant growth trends with respect to cosmetics and pharmaceutical industry, cites the report.
Global fumed silica market size is fairly consolidated with prominent players such as Cabot Corporation, Evonik Industries, Wacker Chemie AG, Tokuyama Corporation and OCI Company Ltd.
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