ROCKVILLE, Maryland, November 7, 2018
ROCKVILLE, Maryland, November 7, 2018 /PRNewswire/ --
Global fumed silica sales are likely to surpass 335,000 MT in 2018, up from 323,733 MT in 2017, according to a new Fact.MR study. Gains will be driven by sustained demand in end-use industries such as printing inks, paints, coatings, and adhesives.
Increasing demand for water-based coatings and paints for industrial and architectural application continues to be a driver for the market. Fumed silica is used on a large scale in paints and coatings to prevent corrosion and rust. Moreover, demand for silicone rubber is increasing in the automotive sector to improve fuel efficiency, thereby, accelerating the growth of fumed silica market.
Manufacturers are introducing new manufacturing processes and technologies to reduce the production time and cost. For instance, Evonik's new fumed silica manufacturing process, allow the coating and paint manufacturers to eliminate bead milling process. This results in reduced time, machine usage, and costs for end-use industry.
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Hydrophobic Fumed Silica to Witness Significant Growth in the Fumed Silica Market
The demand for hydrophobic fumed silica is likely to grow at a significant rate in the future. Owing to the low cost and excellent properties, hydrophobic fumed silica is increasingly used across various industries. Hydrophobic fumed silica is finding large application in coatings, adhesives and sealants, greases, toners, and skin and personal care products.
"The fumed silica market is likely to see the highest growth in the sales of hydrophobic fumed silica in the coming years. The hydrophobic fumed silica is anticipated to see a huge demand, particularly in coatings and in personal care products. The hydrophobic fumed silica is likely to exceed US$ 500 million by 2018 end,"- Senior Analyst at Fact.MR.
With the increasing demand of hydrophobic fumed silica in different industries, manufacturers are focusing on offering better products and also expanding their business. For example, Evonik Industries, one of the leading players in the fumed silica market is expanding its hydrophobic fumed silica capacities in Rheinfelden, Germany. Adding 20% additional capacity, the expansion will become operational by the end of 2020.
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Fumed Silica to Find Largest Application in Silicone Rubber
Silicone rubber is used in various industries including construction, electronics, adhesives, and sealants. Hence, with the increasing production of silicone rubber, the demand for fumed silica is also rising. Moreover, silicone rubber is also finding large application in the automotive industry to enhance fuel efficiency and reduce emission.
Meanwhile, the automotive sector is also using liquid silicone rubber, particularly in windshield wiper blades to ensure flexibility and extend its life. With the increasing use of liquid silicone rubber in wearables and medical devices, manufacturers in the fumed silica market are focusing on designing high-structure and high-surface-area fumed silicone especially for liquid silicone rubber.
North America is projected to dominate the fumed silica market. With the presence of major manufacturers and the opening of new production facilities in the region, the fumed silica market is flourishing in North America.
For instance, Cabot Corporation, a major manufacturer of fumed silica has planned to build a new fumed silica plant in Carrollton. This new plant will enable the company to meet the growing demand for fumed silica in various industries. Meanwhile, fumed silica market in China is also likely to see robust growth due to the rise in the application of paints and coatings.
The new research report by Fact.MR analysis the overall growth of the fumed silica market for the forecast period 2018-2028. According to the report, the market is projected to reach 4.9% CAGR during 2018-2028.
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