Surge in use of nano silica in various applications such as concrete, agriculture, gypsum, and battery nano-silica, growing concerns over renewable sources, and growing use of silica fumes in RNA/DNA delivery systems for vaccine development drive the growth of the global nano silica market. By product, the S-Type segment is expected to maintain its dominance through 2031. Based on region, the Asia-Pacific region is likely to maintain its leadership status during the forecast period.
Portland, OR, Sept. 21, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global nano silica market generated $4.6 billion in 2021, and is estimated to reach $8.6 billion by 2031, witnessing a CAGR of 6.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report Coverage & Details:
Market Size in 2021
Market Size in 2031
No. of Pages in Report
Product, Application, and Region
Increase in use of nano silica in various applications such as concrete, agriculture, gypsum, battery nano-silica, and others
Growing concerns over renewable sources
Growing use of silica fumes in RNA/DNA delivery systems for vaccine development
Toxicity of silica fumes
The COVID-19 pandemic impacted many countries worldwide. Measures such as lockdowns, suspension of trade activities, and closure of factories negatively affected the growth of the nano silica market.
The temporary shutdown of manufacturing units directly affected the revenue generation activities. There was a slowdown in global foreign direct investment (FDI), which indicated adverse effects on the nano silica market.
However, the growing investments for infrastructural developments by governments in emerging economies such as Thailand, India, and China is the key factor that is expected to drive the growth of the market.
The report offers detailed segmentation of the global nano silica market based on product, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on product, the S-Type segment held the largest share in 2021, contributing to nearly half of the global nano silica market, and is likely to maintain its leadership status during the forecast period. Moreover, the same segment is expected to manifest the highest CAGR of 6.7% from 2022 to 2031. The report also offers an analysis of P-Type and Type III segments.
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Based on application, the rubber segment held the largest share in 2021, accounting for more than one-third of the global nano silica market, and would rule the roost through 2031. However, the coatings segment is estimated to witness the fastest CAGR of 7.3% during the forecast period. The report also provides an analysis of concrete, electronics, healthcare, agriculture, plastics, and other segments.
Based on region, the market in Asia-Pacific was the largest in 2021, accounting for more than two-fifths of the global nano silica market, and is likely to maintain its leadership status during the forecast period. Moreover, the same region is expected to manifest the highest CAGR of 6.6% from 2022 to 2031. The other regions analyzed in the study include North America, Europe, and LAMEA.
Leading players of the global nano silica market analyzed in the research include Evonik Industries, Akzonobel N.V., E. I. DU Pont De Nemours and Company, Cabot Corporation, Nanopore Incorporated, Normet, Fuso Chemical Co. Ltd., Wacker Chemie AG, Dow Corning Corporation, and Bee Chems.
The report analyzes these key players of the global nano silica market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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