Colloidal Silica Market Segmentation by Type (Alkaline, Acidic, Modified, and Ordinary Colloidal Silica); by End-Use Application (Electronics & Semiconductor, Paints & Coating, Investment Casting, Building & Construction, Pulp & Paper, Metals & Metallurgy, Textile & Fabrics, and Others)-Global Demand Analysis & Opportunity Outlook 2022-2031
21 Oct 2022
Impact Analysis on the Growth of Market
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Global Colloidal Silica Market Highlights Over 2022 - 2031
The global colloidal silica market is estimated to garner a revenue of USD 1558.8 Million by 2031 by growing at a CAGR 4.5% over the forecast period, i.e., 2022 – 2031. Moreover, the market garnered a revenue of USD 1001.1 Million in the year 2021. The growth of the market can be attributed to growing construction industry worldwide, and for the rising demand for the product amongst the end-users. Globally, the construction costs are expected to rise by around 5% on average. Moreover, in the year 2018, the construction spending worldwide in the private sector recorded close to USD 990 Billion, representing about 77% of overall construction spending. Besides this, the single-family residential construction spending was estimated to be around USD 270 Billion in the same year. Colloidal silica is used for the densification of concrete, cement and other construction materials. The preference for the product in the construction industry is primarily owing to the improved surface friction and anti-slip properties of the product and for enhancing strength when used in mortar and concrete.
The growth of the market can also be attributed to the increasing use of the product for investment casting. Colloidal silica provides a very safe, economical, and easy-to-use slurry component, having an excellent capability to perform as a primary/backup slurry. Moreover, the system made with the product is highly stable, and hence it is used in casting metal. In addition to this, the growing use of colloidal silica in the automotive, textile, and electronics industries, along with the use of the product in the manufacturing of different personal care products, are also projected to drive the market growth in the coming years.
Global Colloidal Silica Market Regional Synopsis
Regionally, the global colloidal silica market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is anticipated to garner the largest revenue of USD 674.2 Million by the end of 2031, up from a revenue of USD 411.0 Million in the year 2021. One of the major factors anticipated to contribute to the growth of the market is the increasing construction of both commercial and residential buildings in countries, such as China, India, Japan, and Australia among others. Besides this, the region also consists of numerous end-use industries that use colloidal silica in their manufacturing processes, which is also projected to drive the market growth. In addition to this, the increasing commercial activities in the countries in the region, along with the growing GDP are also projected to boost the market growth in the coming years in the Asia Pacific. According to the statistics by the World Bank, the GDP (in current US$) in China, Japan, and India grew from USD 11.062 Trillion, USD 4.445 Trillion, and USD 2.104 Trillion in the year 2015 respectively to USD 14.28 Trillion, USD 5.149 Trillion, and USD 2.871 Trillion in the year 2019 respectively. The market in the region is further segmented by country into China, Japan, India, South Korea, Australia, Singapore, and the Rest of Asia Pacific. The market in China is anticipated to garner the largest revenue of USD 339.1 Million by the end of 2031, up from a revenue of USD 212.1 Million in the year 2021.
Growth Drivers and Challenges Impacting the Growth of the Global Colloidal Silica Market
Increasing Use of Colloidal Silica for Investment Casting
Rising Demand for the Product from End-Use Industries
High Price Volatility of the Raw Materials Used in the Manufacturing of the Product
Stringent Regulations & Policies Associated with the Use of the Product
Global Colloidal Silica Market Segmentation Synopsis
The global colloidal silica market is segmented by type into alkaline, acidic, modified, and ordinary colloidal silica. Out of these, the alkaline colloidal silica segment is anticipated to garner the largest revenue of USD 658.8 Million by the end of 2031, up from a revenue of USD 430.4 Million in the year 2021. By end-use application, the market is segmented into electronics & semiconductor, paints & coating, investment casting, building & construction, pulp & paper, metals & metallurgy, textile & fabrics, and others. Out of these, the investment casting segment is projected to garner the second-largest revenue of USD 311.2 Million by the end of 2031, up from a revenue of USD 198.5 Million in the year 2021.
Key Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global colloidal silica market that are included in our report are 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.
Latest Developments in the Global Colloidal Silica Market:
September 21st, 2021: Merck KGaA announced that it has opened a second production line in Gernsheim, Germany for silica-based effect pigments, with an investment of around USD 32.87 Million.
November 2nd 2021: Nouryon Chemicals Holding B.V. announced that in its colloidal silica manufacturing in Green Bay, Wisconsin, United States, the company would expand their production capacity so as to meet the needs of the end-users in the construction and packaging industry.
October 25th, 2021: Evonik Industries AG announced that one of its subsidiaries, DSL Japan, which is a joint venture between Evonik and Shionogi, the Japanese pharmaceutical leader, has opened a new production line for specialty silicas in Ako, Japan. This expansion of production capacity is aimed at raising the production potential by 30% for innovative, custom silica solutions.
Key Reasons to Buy Our Report
The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
The report includes detailed company profiles of the major players dominating the market.
We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
FREQUENTLY ASKED QUESTIONS
The increasing use of colloidal silica for investment casting, along with the rising demand for the product from end-use industries, are some of the major factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR 4.5% over the forecast period, i.e., 2022 – 2031.
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 estimated to hamper the market growth.
Which region will provide more business opportunities for growth of colloidal silica market in future?
The market in the Asia Pacific is anticipated to garner the largest revenue of USD 674.2 Million by the end of 2031 and provide more business opportunities in the future.
The major players in the market are Evonik Industries AG, FUSO CHEMICAL CO., LTD., Nissan Chemical Corporation, Nouryon Chemicals Holding B.V., PPG Industries, Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, end-use application, and by region.
The alkaline colloidal silica segment is anticipated to garner the largest revenue of USD 658.8 Million by the end of 2031 and display significant growth opportunities.
1. Market Definition and Research Methodology
1.1. Market Definition and Segmentation
1.2.Assumptions and Acronyms
1.3. Research Objective
2. Executive Summary
3. Market Dynamics
4. Regulatory & Standards Landscape
5. Industry Risk Analysis
6. Value Chain Analysis
7. Industry Growth Outlook
8. End-Use Demand Analysis
9. Pricing Analysis
10. Competitive Structure
10.1. Market Share Analysis, 2021
10.2. Competitive Benchmarking
10.3. Competitive Positioning
10.4. Company Profiles
10.4.1. Evonik Industries AG
10.4.2. FUSO CHEMICAL CO., LTD.
10.4.3. Nissan Chemical Corporation
10.4.4. Nouryon Chemicals Holding B.V.
10.4.5. PPG Industries, Inc.
10.4.6. Cabot Corporation
10.4.7. Ecolab Inc.
10.4.8. W.R. Grace & Co.
10.4.9. Merck KGaA
10.4.10. The Dow Chemical Company
10.4.11. ADEKA CORPORATION
10.4.12. Sterling Chemicals
10.4.13. Zhejiang Yuda Chemical Co., Ltd.
11. Global Colloidal Silica Market
11.1. By Value (USD Million)
11.2. Market Segmentation Analysis, 2021-2031
11.2.1. By Type
18.104.22.168. Alkaline Colloidal Silica
22.214.171.124. Acidic Colloidal Silica
126.96.36.199. Modified Colloidal Silica
188.8.131.52. Ordinary Colloidal Silica
11.2.2. By End-Use Application
184.108.40.206. Electronics & Semiconductor
220.127.116.11. Paints & Coating
18.104.22.168. Investment Casting
22.214.171.124. Building & Construction
126.96.36.199. Pulp & Paper
188.8.131.52. Metals & Metallurgy
184.108.40.206. Textile & Fabrics
11.2.3. By Region
220.127.116.11. North America
18.104.22.168. Asia Pacific
22.214.171.124. Latin America
126.96.36.199. Middle East & Africa
12. North America Colloidal Silica Market
12.1. By Value (USD Million)
12.2. Market Segmentation Analysis, 2021-2031
12.2.1. By Type
188.8.131.52. Alkaline Colloidal Silica
184.108.40.206. Acidic Colloidal Silica
220.127.116.11. Modified Colloidal Silica
18.104.22.168. Ordinary Colloidal Silica
12.2.2. By End-Use Application
22.214.171.124. Electronics & Semiconductor
126.96.36.199. Paints & Coating
188.8.131.52. Investment Casting
184.108.40.206. Building & Construction
220.127.116.11. Pulp & Paper
18.104.22.168. Metals & Metallurgy
22.214.171.124. Textile & Fabrics
12.2.3. By Country
126.96.36.199. United States
13. Europe Colloidal Silica Market
13.1. By Value (USD Million)
13.2. Market Segmentation Analysis, 2021-2031
13.2.1. By Type
13.2.2. By End-Use Application
13.2.3. By Country
188.8.131.52. United Kingdom
184.108.40.206. Rest of Europe
14.Asia Pacific Colloidal Silica Market
14.1. By Value (USD Million)
14.2. Market Segmentation Analysis, 2021-2031
14.2.1. By Type
14.2.2. By End-Use Application
14.2.3. By Country
220.127.116.11. South Korea
18.104.22.168. Rest of Asia Pacific
15. Latin America Colloidal Silica Market
15.1. By Value (USD Million)
15.2. Market Segmentation Analysis, 2021-2031
15.2.1. By Type
15.2.2. By End-Use Application
15.2.3. By Country
22.214.171.124. Rest of Latin America
16.Middle East & Africa Colloidal Silica Market
16.1. By Value (USD Million)
16.2. Market Segmentation Analysis, 2021-2031
16.2.1. By Type
16.2.2. By End-Use Application
16.2.3. By Country
126.96.36.199. South Africa
188.8.131.52. Rest of Middle East & Africa
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- 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.