In 2021, revenues in the fumed silica market’s application category increased by about 5% year over year. According to a recent Fact.MR analysis, demand for cosmetics and personal care climbed by 5.3 percent between 2020 and 2021.
Increasing demand for fumed silica in the pharmaceutical industry and the paints and coatings segment is expected to drive market growth for fumed silica from 2021 to 2031.
The market is still being driven by rising demand for water-based coatings and paints for industrial and architectural applications. To prevent corrosion and rust, fumed silica is widely used in paints and coatings. Furthermore, as the automobile industry seeks to enhance fuel efficiency, demand for silicone rubber is increasing, propelling the fumed silica market forward.
To minimise production time and cost, manufacturers are introducing innovative manufacturing techniques and technologies. Evonik’s new fumed silica manufacturing technique, for example, allows coating and paint makers to do away with the bead milling process. For the end-user industry, this means less time, less machine usage, and lower expenses.
Key Segments Covered:
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Product Type
- Hydrophilic Fumed Silica
- Hydrophobic Fumed Silica
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Application
- Fumed Silica for Silicone Rubber
- Fumed Silica for Paints & Coatings
- Fumed Silica for Unsaturated Polyester Resins
- Fumed Silica for Adhesives & Sealants
- Fumed Silica for Healthcare & Personal Care
- Others
Competitive Environment
Leading companies are embracing cutting-edge marketing strategies, technical advancements in cancer detection, and mergers and acquisitions.
Evonik Industries AG, a significant player, entered a purchase agreement to buy the privately held technology-driven business Infinitec Activos in June 2021, with the deal scheduled to close by the end of July.
Cabot Oil & Gas Corp. plans to merge with Cimarex Energy in a stock-for-stock merger that will value the merged firm at $17 billion in May 2021. The deal is expected to be completed in the fourth quarter. The united corporation will have a new name and a new headquarters in Houston.
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