On the basis of end-use, electronics and semi-conductor segment accounts for almost 1/3 of the overall market. Pharmaceutical tablets including paracetamol and animal pharmaceuticals sector is also offering valuable prospects.
DUBAI, UAE / ACCESSWIRE / September 21, 2020 / The colloidal silica market earns a major part of the revenue from the electronics, semiconductors and paint industry. Pharmaceutical industry is offering great opportunities and will hold a majority share in the market. Manufacturers in acidic colloidal silica are involved into the broader side of end-use application which includes (Metallurgy, electronics and semiconductors etc.).
"Chemical industry with its alkaline and acidic colloidal silica will offer a greater revenue to the market in the upcoming years. Manufacturers and key market players are focussing more on product customization and expansion of market on both regional and domestic levels," says the FMI Analyst.
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Colloidal Silica Market - Key Highlights
- The global colloidal silica market registered a value of US$ 233 MN in 2020.
- On the basis of application, electronics and semiconductors stands on the pedestal with covering 1/3 portion of the market.
- On the basis of region, East Asia stands as the largest shareholder while China seen as the most lucrative in casting and coating market.
- Acidic and alkaline colloidal silica is expected to gain momentum in the upcoming years.
Colloidal Silica Market - Driving Factors
- Varied use as a water-solvent in paint and coating industry drives the market.
- Rising demand in pharmaceutical tablets like paracetamol and animal pharmaceuticals due to enhanced moisture sensitivity.
- Colloidal silica finds assorted application in tablet making which includes adsorbent, anti-caking agent, disintegrant and glidant.
- Chemical industry is relying on colloidal silica and alkaline as well as acidic colloidal silica market is likely to expand thereby, paving path for new opportunities.
Colloidal Silica Market - Key Restraints
- Excessive use might cause harmful environmental impacts.
- Pharmaceutical industries should rely on it in a limited way to prevent side-effects.
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Expected Impact on Market by Coronavirus Outbreak
Due to strict lockdown measures, electronics and semi-conductor industry might not grow at the same pace as it used to. Growth per year will now reduce as colloidal silica is largely used in electronics and semiconductors itself. Stock market is already facing uncertainties and COVID-19 might bring a major loss to this sector.
Key players in the market include - Akzo Nobel N.V (Nouryon Holding, Merck KGaA, ADEKA CORPORATION, ALLIED HIGH TECH PRODUCTS, INC, Nissan Chemical Corporation, The Dow Chemical Company, Cabot Corporation, Evonik Industries
Companies take up unique strategies to expand their market and gain profit. For an instance, the key players are planning to focus on product customization for a better footprint.
Another major strategy of the major participants' remain as that of R&D activity of capacity expansion.
More on the report
This report presents an analysis on the basis of segments including product type (alkaline, acidic, modified), end-use (pharmaceuticals, metallurgy, paper and pulp etc.) and region (North America, Europe, South Asia etc.)
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SOURCE: Future Market Insights