Global Colloidal Silica Market to Grow with a CAGR of 4.5% During 2022-2031; Market to Grow on Account of Increasing Demand for the Product Amongst the End-Use Industries
Kenneth Research published a report titled “Colloidal Silica Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global colloidal silica market in terms of market segmentation by type, end-use application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global colloidal silica market is anticipated to grow with a CAGR of 4.5% during the forecast period, i.e., 2022-2031. The market is segmented by type into alkaline, acidic, modified, and ordinary colloidal silica, out of which, the alkaline colloidal silica segment is anticipated to garner the largest revenue of USD 658.8 Million by the end of 2031. Moreover, in the year 2021, the segment generated a revenue of USD 430.4 Million.
The global colloidal silica market is estimated to garner a revenue of USD 1558.8 Million by 2031, up from a revenue of USD 1001.1 Million in the year 2021. The rising demand for colloidal silica from different end-use industries, such as automotive, textile, and electronics, followed by the rising use of the product for investment casting, as the product provides a very safe, economical, and easy-to-use slurry component, are some of the major factors anticipated to drive the market growth in the coming years.
Geographically, the global colloidal silica market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in the Asia Pacific is anticipated to garner the largest revenue of USD 674.2 Million by the end of 2031. Moreover, in the year 2021, the market in the region generated a revenue of USD 411.0 Million.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Use of Colloidal Silica in the Construction Industry to Create Opportunities for Market Growth
The construction spending globally in the year 2018 in the private sector touched around USD 990 Billion. This represented close to 77% of the overall construction spending. Besides this, the construction costs are expected to rise on average of about 5%. In addition to this, in the year 2018, the single-family residential construction spending was recorded to be close to USD 270 Billion.
The construction industry is growing at a significant pace worldwide, which is driving the need for the use of different types of construction materials. One of the major components used in the construction process is cement, and colloidal silica is used for the densification of concrete, cement and other construction materials. With the surge in need for different construction materials, the demand for colloidal silica is also anticipated to grow, and in turn, boost the market growth in the coming years.
However, the high price volatility of the raw materials used in the manufacturing of the product, along with the stringent regulations & policies associated with the use of the product are expected to operate as key restraint to the growth of global colloidal silica market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global colloidal silica market which includes company profiling of Evonik Industries AG, FUSO CHEMICAL CO., LTD., Nissan Chemical Corporation, Nouryon Chemicals Holding B.V., PPG Industries, Inc., Cabot Corporation, Ecolab Inc., W.R. Grace & Co., Merck KGaA, The Dow Chemical Company, ADEKA CORPORATION, Sterling Chemicals, Zhejiang Yuda Chemical Co., Ltd., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global colloidal silica market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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