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Fumed Silica Market Size

Report ID: GMI4388
Published Date: Nov 2022
Report Format: PDF

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Fumed Silica Market Size

Fumed Silica Market size valued at USD 1.9 billion in 2023 and is projected to depict more than 5.5% CAGR from 2024 to 2032, propelled by the increasing interest in beauty & personal care products will accelerate industry growth.

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Surging deployment of unsaturated polymer resin in the production of filled plastic & fiber reinforced plastic products, such as pipes, tanks, sanitary ware, gratings, etc. Further, escalating demand for high-performance parts for the transportation & marine industries is presenting lucrative opportunities to the fumed silica market.

The transportation industry is slated to observe an optimistic future outlook with a healthy growth rate. Fueled by various trends such as technology enhancement, increasing fuel efficiency, electrification of vehicles, clean energy investments, and transportation efficiency, among others, are expected to drive the automotive industry’s revenue to cross USD 6.5 trillion by 2030. In addition, the growing adoption of fumed silica in the coatings & adhesives industry will also substantially contribute to the market expansion.

Fumed Silica Market Report Attributes
Report Attribute	Details
Base Year:	2023
Fumed Silica Market Size in 2023:	USD 1.92 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5.5%
2032 Value Projection:	USD 3.1 Billion
Historical Data for:	2018 - 2023
No. of Pages:	350
Tables, Charts & Figures:	308
Segments covered:	Product, Application, and Region
Growth Drivers:	Increasing need to improve pharmaceutical production processes Rising demand for beauty & personal care products Favorable trends associated with the building & construction sector Positive outlook of the unsaturated polyester resin sector
Pitfalls & Challenges:	Significant threats from substitutes such as precipitated silica and micro fibrillated cellulose High prices of the product

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On the other hand, the spike in the demand for beauty & personal care products such as makeup and face creams, sunscreen lotions, dental powders, and hair care products that utilize fumed silica, will amplify revenue influx for fumed silica market.

Authors: Kiran Pulidindi, Hiralkumar Patel

Frequently Asked Questions (FAQ) :

Market size for fumed silica exceeded USD 1.9 billion in 2023 and is estimated to record more than 5.5% CAGR through 2024-2032, driven by the positive outlook of the unsaturated polyester resin sector.

Fumed silica industry size from the pharmaceutical, beauty & personal care application segment is projected to reach over 890 million by 2032 on account of rising use in several drugs, capsule, and tablet formulations to offer superior properties.

Europe accounted for more than 20% share of the fumed silica market and held a valuation of over 350 million in 2022. The growth can be attributed to the growing adoption of fumed silica as a performance booster in silicone elastomers.

Evonik Industries AG, Wacker Chemie AG, China-Henan Huamei Chemical Co., Ltd., Tokuyama Corporation, OCI Company Ltd., Kemitura A/S, Orisil, Hubei Xingrui Silicon Materials Co., Ltd., and Cabot Sanmar Limited are some of the key players operating in the fumed silica business.