Fumed Silica: Pharmaceutical application has set to enhanced consumption of fumed silica
Fumed Silica Market Research Report- Forecast to 2023 | MRFR
Report Details:
15 Companies Covered
200 Pages
Pune, India, January 2018, /MRFR Press Release/- Market Research Future Published a Cooked Research Report on Global Fumed Silica Market
Press Release Content:
Market Research Future (MRFR) announces the publication of its research report –Fumed Silica Market 2017-2023
Market Research Future (MRFR) recognizes the following companies as the key players in the global Fumed Silica market: Evonik Industries AG (Germany), Wacker Chemie AG (Germany), Cabot Corporation(U.S.), Tokuyama Corporation(Japan), PPG Industrie, Inc (U.S.), 3M(U.S.), Dalian Fuchang Chemical Co., Ltd(China), Kemitura, Dongyue Group Ltd. (China), and Power Chemical Corporation Ltd (UK)
Market Highlights:
Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, global Fumed Silica market was valued at USD 989.0 million in 2016 and is predicted to grow at low CAGR of 7.80% to reach USD 1,662.0 million by the end of 2023. Exponential growth in key end use industries including paints & coatings, adhesive & sealants, and pharmaceutical considered as key growth driver in this market. Besides this, it has gained momentum in the pharmaceutical industry owing to crucial application in drug manufacturing. However, introduction of biogenic fumed silica has held back the growth of this market. Pressure from regulatory bodies to adopt bio based solution in order to reduce environmental impact is posed as key growth barrier.
Segment Analysis:
The global Fumed Silica market is segmented into type, application, and region. Market segmentation based on type includes hydrophilic fumed silica and hydrophobic fumed silica. Hydrophobic fumed silica emerged as dominant segment and has acquired more than half of the global market as of 2016, expanding at 8.30%. Hydrophobic fumed silica exhibits properties such as reduced moisture adsorption, scratch and abrasion resistance, corrosion resistance, reinforcement, anti-setting, thickening, and sag resistance in polar system which has set to its increased consumption end user applications. In addition to this, price economic nature of hydrophobic fumed silica is also another factor which has been consistently increasing its demand. On the other hand, hydrophilic fumed silica has seen growing at relatively lower CAGR of 7.08% as of 2016. Its consumption expected to progress in terms of market shares in the coming years
Furthermore, on the basis of application the global market has been segmented into paints & coatings, adhesive & sealants, silicon rubber, pharmaceutical, cosmetics, battery gel, unsaturated polyester resin and others. Among all, paints and coatings dominated the global market and has acquired 31.73% global shares as of 2016. As fumed silica serves the role of viscosity adjustment, this has led to its higher adoption in paints and coating applications. The overall paints & coatings industrial growth was notes at 5.5% annual growth, therefore, the industry has set to its enhanced consumption in the coming years. Adhesive and sealants is the second largest application segment growing at 7.91% CAGR, and it is likely to grow in same trend over the forecast period as well. Although, pharmaceutical is most emerging application segment and has gained attention most of the industry players. Pharmaceutical applications has registered dynamic CAGR of 8.03% and it is expected to increase over the assessment period. It is used to maintain power flow, die filling acid to maintain uniform weight of tablet and compaction aid to influence the hardness of tablet. It altogether has resulted into increasing adoption of fumed silica in drug formation, and set to uplift its usage.
Fumed Silica Market Regional Analysis:
The global Fumed Silica market is spanned across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. According to the MRFR analysis, Asia Pacific was the most promising region in terms of consumption as of 2016. The region has accounted for the largest market share of 39% followed by North America at 23%. The region consist of few dynamic economies who have been the major contributor in the regional dominance of Asia Pacific including, China, India, Japan, and South Korea. Specifically, China is the most impactful regional as well as global market across the globe, wherein, large production and export of fumed silica undertaken. In addition to this, key industries such as paints & coatings, adhesive & sealants and pharmaceutical industries in this region was on the rise after 2010 and are encouraging demand for fumed silica over the years.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape analysis of key vendors.
This research report provides insights, on various levels of analyses such as industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusions. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of Global Fumed Silica, including the high-growth regions and their political, economic and technological environments. Furthermore, the project report also provides views over the historical market values as well as, pricing and cost analysis of the same. Access Full Report Details - fumed silica market size