The investments in the production of fumed silica by manufacturers is anticipated to provide a strong push to the overall market’s growth. The companies are looking out for expansion opportunities in the Asia Pacific region through joint ventures, mergers, and acquisitions.
In 2019, the Asia-Pacific fumed silica market accounted for a market value of USD 436.39 million and is expected to grow at a CAGR of 6.71%, over the forecast period of 2021-2025. The growing end-user segments such as paints & coating, pharmaceuticals and others, across the Asia-Pacific is anticipated to drive the demand for fumed silica across the region. This growth can be attributed to the growing collaboration between global and domestic companies along with the development of end-user segments across China.
Research Nester has released a report titled “Asia-Pacific Fumed Silica Market: Demand Analysis & Opportunity Outlook 2025”which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The Asia-Pacific fumed silica market is segmented by application into pharmaceutical, beauty & personal care; silicone elastomer; paints, coatings & inks; UPR; adhesives & sealants; food & beverages, and others. Out of these, paints, coatings & inks segment accounted for the market share of 35.7% in 2019 and is estimated to grow up to $233.53 million by 2025, by growing at a CAGR of 7.10% over the forecast period. Also, in the pharmaceutical industry, the anti-static property of fumed silica enables the improvement of flow properties of the powder, this further aids in improving the bonding strength of the particles, resulting in the pharmaceutical, beauty & personal care segment’s growth across various countries in Asia-Pacific region.
One of the major applications includes the use of fumed silica as an active reinforcing filler to improve the mechanical properties of sealants. Fumed silica is used in transparent sealants for water-proofing shower stalls. The growing demand for adhesives and sealants from the automotive and construction industry across the region is anticipated to drive the demand for fumed silica in the Asia-Pacific region. Fumed silica is used for various applications such as de-foaming agents, food additive and multiple others across the food & beverage industry. Food grade fumed silica adsorbs liquids to produce dry powder that can be mixed with other liquids. Additionally, at higher concentrations, fumed silica can be used to mask flavors to formulate nutritious food. These applications are anticipated to drive the market growth of fumed silica across the Asia-Pacific region over the forecast period.
However, threat from substitutes such as precipitated silica and growing popularity of eco-friendly products, are anticipated to hamper the growth of Asia-Pacific fumed silica market over the forecast period.