About the Fumed Silica Market Report
The Fact.MR study features insightful information about critical dynamics of the fumed silica market to help readers to fathom current growth parameters and future prospects of the fumed silica market. This study is a seamless presentation of unique insights on how the fumed silica market will grow during 2018-2028 along with the prediction of market growth in terms of market size (US$ million) and market volume (tons).
Definition of Fumed Silica Market
Fumed silica is prepared through a chemical reaction that involved burning Silicon tetrachloride or tetrachlorosilane (SiCl4) in hydrogen-oxygen flames, which ends in producing the smoke of SiO2. Fumed silica is also called pyrogenic silica and it is commonly used in a variety of industrial applications such as silicone rubber, paints & coating, adhesives, and unsaturated polyester resins.
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Competitive Landscape of Fumed Silica Market
The fumed silica market report covers profiles of key participants to cover important aspects of competitive environment in the fumed silica market. Thorough and insightful information about market players, including key financials, and product portfolio, along with information about new technologies adopted and new product launches by market players, is covered in the fumed silica market report.
Market players featured in the report include Cabot Corp, Evonik Industries AG, Wacker Chemie AG, DowDuPont Inc., Tokuyama Corporation, OCI Company Ltd., Orisil, Kemitura A/S, Chiefeng Shengsen Silicon Technology Development Co., Ltd, Gelest Inc., and Henan Xunyu Chemical Co., Ltd.
Segmentation of Fumed Silica Market
The information about the growth prospects of the fumed silica market is broadly segmented according to geographical regions, product types, and applications of fumed silica. Based on the growth parameters of the fumed silica market in various geographical regions, the growth prospects of the fumed silica market are segmented into seven regions – North America, Latin America and Middle East & Africa (LAMEA), Europe, China, India, Japan, and South East Asia and Pacific.
According to product types of fumed silica, the fumed silica market is segmented into two categories – hydrophilic and hydrophobic. Based on the applications of fumed silica, growth prospects of the fumed silica market are segmented into five major applications – silicone rubber, paints & coatings, unsaturated polyester resins, adhesives & sealant, and healthcare & personal care.
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Key Developments Covered in the Fumed Silica Market Report are:
A mounting number of players in the fumed silica market are eyeing the lucrative opportunities in the Chinese market for fumed silica, which is outpacing the growth of other regional markets.
Cabot Corp formed a joint venture with Inner Mongolia Hengyecheng Silicone Co., Ltd. increase fumed silica production in China. The companies have invested over US$ 60 million in the new fumed silica production capacity to establish a strong position in the rapidly expanding market for fumed silica in China. The Cobot Corp has also invested over US$ 80 million in its new fumed silica capacity in Kentucky, USA, which is adjacent to silicone monomers plant of Dow Corning, an American supplier of silicone products.
Another popular trend in the fumed silica market is that a majority of market players, such as Wacker Chemie AG, Evonik Industries AG, and Cabot Corp., have increased the prices of fumed silica due to a rise in raw materials and transportation prices.
Key Insights of Fumed Silica Market
Evonik Industries Maintains its Lead in Fumed Silica Market, Cabot Corp and Wacker Chemie AG Follow Suit
Evonik Industries AG, a German manufacturer of fumed silica, accounts for nearly one-third market share. Evonik is investing heavily in expanding its fumed silica capacities worldwide to establish a strong presence in the international markets.
Evonik recently announced its plans to expand its fumed silica capacities in Antwerp, Belgium to be in line with its strategy to solidify its position in the European fumed silica market. The company also revealed its plan to expand its hydrophobic fumed silica production in Rheinfelden, Germany by 20% in response to burgeoning demand for specialty silica varieties.
Other leading manufacturers in the fumed silica market, such as Cabot Corp and Wacker Chemie AG collectively hold over 40% revenue share in the market. Captive consumption of fumed silica is likely to continue complementing the incremental growth of top manufacturers in the fumed silica market.
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Fumed Silica Market Remains Highly Consolidated as Tier III Companies Hold Less Than 10% Market Share
Stringent regulatory framework, challenges associated with the availability of raw materials, and cyclic behavior of end-use industries present major barriers to entry for small and medium-scale businesses in the fumed silica market. Tier III manufacturers are facing major challenges at raw material procurement as leading firms are controlling supply chain operations in the fumed silica market.
Furthermore, ensuring product regulatory compliance results in additional manufacturing costs and delayed market entry, which is making it challenging for new entrants in the fumed silica market to maintain competitive prices. In addition, top players in the fumed silica market account for the largest market share through captive consumption of fumed silica. This is making fumed silica market highly concentrated among top market players and Tier III fumed silica companies account for less than 10% revenue share of the market.
Growing Applications of Fumed Silica in Silicone Rubber Create Potential for Demand Upsurge
The silicone rubber industry is witnessing extensive growth as it finds versatile applications in various industrial sectors, such as sports, automotive, healthcare, and medical appliances. Manufacturers in the fumed silica market are aiming to capitalize on the increasing growth of the silicone rubber industry, by improving characteristics of silicone rubber, such as chemical inertness, purity, and high durability with the use of fumed silica.
By adopting advanced manufacturing technologies, players in the fumed silica market are exhibiting superior characteristics of fumed silica that can further enhance mechanical properties, tear resistance, and tensile strength of silicone rubber. Fumed silica market players are recognizing the growth potential of the silicone rubber industry and modifying their manufacturing strategies to capture lucrative sales opportunities in the coming future.
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Market Players Focus on Capturing Untapped Opportunities in the Paints & Coatings Industry
Growing demand for decorative coatings and burgeoning construction activities worldwide are contributing to the incremental growth of the paints & coatings industry. Soaring popularity of fumed silica in the paints & coatings industry as an anti-setting and thixotropic agent to control rheological characteristics is creating new avenues of growth for fumed silica market players in the industry.
Leading manufacturers in the fumed silica market are modifying their manufacturing procedures and adopting advanced technologies to introduce fumed silica that can enhance the setting characteristics of pigments in paints & coatings. By adopting innovative manufacturing processes that can improve properties of fumed silica and improve the productivity of business, market leaders are aiming to capitalize of the rapidly-growing fumed silica market.
Additional Questions Answered in Fumed Silica Market Report
Information presented in the Fact.MR report on fumed silica market can help market players to understand the growth prospects of the market. With the help of this information, market players can plan their upcoming business strategies, which can lead to them gain competitive advantages in the fumed silica market.
The report answers numerous market-related questions for market players, which can help them to make well-informed and critical decisions to strengthen their position in the fumed silica market in the upcoming years. Some of the important questions about the fumed silica market that are answered in the report are:
- What impact do the statistics of the global chemical sales have on the growth of the fumed silica market?
- What are the winning strategies of manufacturers in the fumed silica markets in developed regions?
- Why are most market players preferring to invest in the European fumed silica market?
- How will the political status quo in emerging economies impact growth of the fumed silica market?
- Why are most companies shifting their focus away from hydrophilic fumed silica to hydrophobic fumed silica from?
Research Methodology of Fumed Silica Market
A holistic approach and unique methodology is followed while conducting a thorough research about the fumed silica market to conclude the growth prospects of the market during 2018-2028. Accurate conclusions about the future growth of the fumed silica market mentioned in the report are drawn by carrying out secondary and primary research on the current growth avenues in the fumed silica market.
Historical and recent data obtained at the end of the comprehensive secondary research about the fumed silica market is combined with the information gained through primary market research, which involves all the leading stakeholders, including manufacturers and distributors, in the fumed silica market.
Fact.MR ensures the reliability of all the conclusions and insights about the growth prospects of the fumed silica market mentioned in the report.
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