Silica Gel Market is projected to be worth USD 781.9 Million by 2030, registering a CAGR of 3.3% during the forecast period (2020 - 2030).
The silica gel market was marked at a value of 5.1 billion in 2016 and it is further expected to grow at a higher CAGR of 6.1 % during the forecasted period to account for a higher market value share by the end of the forecasted period.
A granular, porous, vitreous form of silicon dioxide largely made from synthetics processing from sodium silicate is called silica gel. It has various non-porous liquid-like microstructures but it is commonly used in dried form and hence the other name is silica xerogel. It posses various properties like absorbing qualities, chemically inert, non-corrosive, and non-toxic. Owing to the presence of these qualities it is used in a variety of end-user industries. These gels are available in various types like A, B, and C. Type A and type B are widely used as compared to type C.
COVID 19 Analysis
The global pandemic of COVID 19 has affected a major chunk of the population. Many people have lost their livelihood because of this global pandemic. It has affected the dynamics and growth of several industries. Everyone is worried about their immunity and follows social distancing. During the lockdown situation, operational activities of various end-user industries were halted, resulting in a demand shrink for the silica gel market, which further leads to decreased sales revenue. The supply chain networks were also disrupted which lead to a decline in profit margin.
However, the silica gel market is expected to recover from this global pandemic by the end of the third quarter of the coming year by properly strategizing according to the needs of the market.
Numerous factors drive the market demand in the global market. The demand for type A and type B silica gel is increasing as it is used in various applications like perfume carriers, absorbents, and separators (because of its moisture-proof and dry properties) drives the market demand in the global market during the forecasted period. Moreover, it is largely used in the food and beverages industry as food additives and results in the longer shelf life of the product drive the market demand during the review period. Since it has moisture-proof properties is avoids fungus and decay.
The rise in the demand for the silica gel market all across the globe. Increasing use of silica gel and increasing development in the packaging in the pharmaceutical industry provides various growth opportunities in the global market during the forecasted period. Ongoing extensive research was done by various major key players all across the globe also provides various growth opportunities in the global market during the forecasted period.
Although the silica gel market is increasing tremendously in the global market, some factors restrict the market growth. The high cost associated with raw materials hinders market growth in the global market as it is not afforded by all. Moreover, lack of awareness regarding the availability of these kinds of gels in various remote areas of different nations is another restraining factor that hinders the market growth to a great extent.
Value Chain Analysis
The silica gel market is growing at an incredible rate globally due to various benefits associated with it. It is commonly used as a food additive and is used as an anti-settling agent, anti-cake agent, and deforming agent. It is also used in water treatment facilities as it has superior absorption qualities along with higher surface area properties. It is used as a lens protection gel as it keeps the moisture away from the camera lenses when used in damp places or underwater.
The silica gel market has been divided all across the globe based on the type, application, end-user industry, and region.
Based on the Type
The market has been divided all across the globe based on the type into silica-alumina gel, Type C, Type B, Type A, and many others.
Based on the Application
The market has been divided all across the globe based on the application into water filtration, food additives, chromatography, desiccant, and many others.
Based on the End-User Industry
The market has been divided all across the globe based on the end-user industry into cosmetic and healthcare industry, petrochemical industry, pharmaceutical industry, oil and gas industry, and many others.
Based on the Region
The market has been divided in the global market based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
The silica gel market has been divided all across the globe based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. The largest market share in the global market is held by the North American region owing to increasing demand for this kind of gel in the pharmaceutical industry that drives the market demand to this region as it has absorption qualities. Moreover, the presence of various major key players also drives the market demand in this region. Increasing development in oil and gas industries and the petrochemical industry is another contributing factor.
Being the fastest-growing region, the second-largest market share in the global market is held by the Asia-Pacific region. Increasing use of silica gel in the various end-user industries drives the market demand to this region. Moreover, increasing development in the food and beverages industry along with the electronics industry is yet another major factor that drives the market demand in this region.
The third-largest market share in the global market is held by the European region owing to the presence of well-established technologically advanced infrastructure that drives the market demand to this region. Moreover increasing development in the personal care and cosmetic industry also create various growth opportunities in the global market. Higher disposable income prevailing also creates more demand avenues in this region.
The Latin American region and the Middle East and African region hold the least market share due to the presence of low infrastructure in both these regions. Low per capita disposable income is another contributing factor that restricts the market growth in these regions.
The most prominent major key players in the silica gel market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the silica gel market in the global market by going for mergers, and acquisitions, by collaborating, setting up a joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a new production process, and many others to expand their customer base in the untapped market of the silica gel all across the globe.
This global silica gel market research report consists of the following elements mentioned below:
This market research report contains factors that drive the growth of the silica gel market in the global market along with the factors that restrict its growth in the global market. The opportunities available for growth in the silica gel market during the forecasted period are mentioned. The impact of COVID 19 on the silica gel market all across the globe is mentioned. The future growth rate in the silica gel market during the forecasted period is estimated and mentioned.
Nationalized laboratory, raw material suppliers, potential investors, production process industries, traders and distributors of silica gel market, silica gel market manufacturers, and many others.
|Market Size||2027: Significant value|
|CAGR||2022–2030: Substantial CAGR|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, Application, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Evonik Industries (Germany), Clariant (Switzerland), Solvay (Belgium), Merck Group (Germany), China National Bluestar Company Limited (China), Fuji Silysia Chemical (China), Nissan Chemical Industries (Japan), DowDuPont (U.S.), Qingdao Haiyang Chemical (China) and Millennium Chemicals (U.S.). among others.|
|Key Market Opportunities||Increase the shelf life of the products and to avoid decay and growth of fungus due to moisture.|
|Key Market Drivers||The growth of the pharmaceutical industry is further expected|
The silica gel market is expected to grow at a higher CAGR of 6.1% in the global market during the forecasted period.
The silica gel market is expected to account for a higher market share value of USD 5.1 billion in 2016.
The largest market share in the silica gel market all across the globe is held by the North American region.