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

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.

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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

Growth Drivers

• Increasing Use of Colloidal Silica for Investment Casting

• Rising Demand for the Product from End-Use Industries

Challenges

• 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 21^st, 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 2^nd 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 25^th, 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.

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Geography Analysis:

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

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