Market Insight-Global Colloidal Silica Market Overview 2022
The global Colloidal Silica market size is projected to reach US$ 1315.63 Million by 2028, from US$ 930.79 Million in 2021, at a CAGR of 4.54% during 2022-2028.– Bossonresearch.com
Colloidal silicas are suspensions of fine amorphous, nonporous, and typically spherical silica particles in a liquid phase. Colloidal silica has been increasingly adopted in chemical mechanical planarization (CMP) slurries, which are used as polishing agents in the electronics/semiconductor industry. Colloidal silica has been widely used in a wide variety of industries including foundry, ceramics, refractory, coatings, papermaking, textile and catalyst carriers owing to its features such as stable properties, large surface size, favorable permeability, etc. Consumption of colloidal is also growing in applications such as paints & coatings, catalyst support in chemicals and Investment Casting mills.
Figure 1. Product Picture of Colloidal Silica
Source: Secondary Sources and Bosson Research, 2022
According to Bosson Research, The global Colloidal Silica market size is projected to reach US$ 1315.63 Million by 2028, from US$ 930.79 Million in 2021, at a CAGR of 4.54% during 2022-2028.
Figure Global Colloidal Silica Market Size
Source: Bossonresearch.com, 2022
Increased Demand from Various End Use Sectors to Fuel Market Growth
Colloidal silica is widely utilized in the form of active chemical ingredient in the process of development of pharmaceutical tablets, such as animal pharmaceuticals and paracetamol. It betters the stability of specialty active pharmaceutical ingredients or API that is sensitive to moisture. This factor is estimated to gather attention of various pharmaceutical companies. In addition, the product is widely utilized as a glidant, disintegrant, anti-caking agent, and an absorbent in the process of tablet making so as to allow hassle-free flow of powder during the process. Players in the global colloidal silica market are estimated to tap the untapped opportunity.
Colloidal silica also finds use in the form of a solvent in water-based coatings and paints. The product is ideal for use in various applications in wet and dry surroundings and ,thus, reduce the burden on the environment. The paints and coating industry is estimated to make a shift toward greener approach. Market players are, thus, making considerable investment in the paints and coatings industry so as to gain competitive advantage. This factor is estimated to foster growth of the global colloidal silica market in the years to come. Electronics and semi-conductor industry is another promising end use sector for colloidal silica.
Impact of COVID-19 Pandemic on Colloidal Silica Market
The COVID-19 pandemic affected economies and industries in various countries due to lockdown and travel bans enacted by various governments in early 2020, which led to business shutdowns in the first few quarters of this year. The shutdown of manufacturing plants in leading countries in North America, Europe, and Asia Pacific disturbed the global supply chains, manufacturing and delivery schedules, and goods sales. The chemicals & materials industry suffered serious disruptions in supply chains and production schedules in the initial phases of the pandemic. Further, various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Bans imposed by various countries in Europe, Asia, and North America on international travel compelled enterprises to temporarily suspend their collaboration and partnership plans. All these factors hampered the chemical and materials industry growth in 2020 and early 2021, thereby restraining the growth of various markets related to this industry, including the colloidal silica business.
Regional Market Analysis
Asia Pacific is estimated to register the fastest CAGR in the global colloidal silica market over the forecast period. The growth of the colloidal silica market in Asia-Pacific is driven by rising demand for colloidal silica from various end-use industries such as pulp & paper, building & construction, food & beverages, and pharmaceuticals.
Competition Landscape
Leading players operating in the colloidal silica market are focusing on the production capacity expansion strategy to provide better service to customers to gain a competitive edge in the market. Meanwhile, a few other colloidal silica solution manufacturers are engaging in mergers, acquisitions, joint ventures, and partnerships with international and domestic companies to co-develop new products and generate more sales across the globe. Some of the prominent industry leaders in the colloidal silica market are Fuso Chemical, Nouryon, Grace, Nissan Chemical, Guangdong Well-Silicasol, Nalco, Merck, Evonik Industries.
Key players in the Colloidal Silica Market include:
Fuso Chemical
Nouryon
Grace
Nissan Chemical
Guangdong Well-Silicasol
Nalco
Merck
Evonik Industries
Yinfeng Silicon
Chemiewerk Bad Köstritz
Liyi Kehan Silicon Products
Qingdao Haiyang Chemical
Hubei Yulong Chemical
Zhejiang Yuda Chemical
Remet
Adeka
Nyacol
YIMING
Qingdao FSK Foundry Materials
Fuzhou Sanbang Silicon Material
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