Colloidal Silica Market to Reach Valuation of USD 1125.1 Million by 2028 –Growing Construction Sector across the Globe

In terms of revenue, the Global Colloidal Silica Market is expected to reach USD 1125.1 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 5.4% from 2022 to 2028.

Key Developments in the Industry

· To meet the high demand from the packaging and construction end-markets, Nouryon, a prominent producer of specialty chemicals with headquarters in the Netherlands, announced in March 2021 that it would expand its production capacity at the LevasilColloidal Silica manufacturing facility in Wisconsin. The company would be able to improve customer service, increase its manufacturing footprint, and provide sustainable solutions thanks to this expansion.

· Seeing increased demand from both the packaging and construction industries, Dutch specialty chemical firm Nouryon said in March 2021 that it would be expanding its capacity at its Levasil colloidal silica plant in Wisconsin. In the second half of 2022, construction is scheduled to commence. The company's production footprint, customer service, and ability to create environmentally friendly products might all benefit from this growth.

· Like the new Levasil colloidal silica products Nouryon introduced in October 2020 for the electronics industry, customers would have access to a novel range of high-purity colloidal silica fillers for use in the polishing, smoothing, and shaping of high-performance substrates, such as silicon wafers, essential in the manufacture of integrated circuits.

· W. R. Grace & Co., a chemical business, built a brand-new, state-of-the-art colloidal silica plant at its flagship manufacturing and R&D center in Germany in June of 2020. The facility spans an area of 8,200 square meters. With this new expansion, the firm will be able to double the global production capacity of LUDOX, its best-selling colloidal silica product, greatly boosting its responsiveness to customers in Asia Pacific, Europe, the Middle East, and Africa (EMEA).

Market Dynamics

The market is expected to benefit from an increase in research and development efforts by industry participants to provide cutting-edge Colloidal Silica filler solutions with programmable chemical and physical properties. In addition, the global need for Colloidal Silica will rise as electronics become more widely used. An average American family uses 28 electronic items, including electronic readers, personal computers, televisions, and mobile phones, according to the Environmental Protection Agency (EPA).

According to the Ministry of Electronics and Information Technology, India's electronics production increased by 10.4% between 2009 and 2010. These figures are expected to increase over the years, increasing demand for Colloidal Silica fillers. Water-based paints and varnishes also employ Colloidal Silica solutions as solvents. These are the perfect option for use in a variety of applications in both dry and wet environments. Many manufacturers are attempting to invest in paints and coatings to take advantage of the product's advantages because they can reduce the environmental burden. Thus, increasing demand from various end users is driving market growth.

In 2021, the Colloidal Silica Market was anticipated to have a sizable revenue share, and in the years that follow, it is anticipated to proliferate. The rising economies of the region's developing nations are predicted to lead to a significant increase in tyre production. The coatings industry is also likely to grow as a result of the local construction boom.

North America accounted for the second-largest share of revenues in 2021. The nations in the area are investing in the construction of affordable housing, which is expected to enhance demand for paints and coatings. For instance, in April 2022, the Canadian government pledged USD 10 billion to the entire housing plan over the ensuing five years. Europe is one of the major markets for specialty silica. Many companies in the pharmaceutical, automotive, FMCG, and high-end luxury goods industries are responsible for the region's product demand.

The Global Colloidal Silica Market is Segmented as follows

• Product Type
  • Alkaline
  • Acidic
  • Modified
  • Ordinary
• Application
  • Pulp & Paper
  • Adhesives & Sealants
  • Paints & Coatings
  • Construction
  • Textiles
  • Catalysts
  • Polishing
  • Electronics
  • Personal Care
  • Other Applications
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Colloidal Silica Market is

Akzo Nobel N.V (Netherlands), Merck KGaA (Germany), ADEKA Corporation (Japan), Allied High Tech Products Inc. (U.S.), Nissan Chemical Corporation (Japan), The Dow Chemical Company (U.S.), Cabot Corporation (U.S.), Ecolab (U.S.), Evonik Industries AG (Germany), Fuso Chemical Co. Ltd. (Japan), W. R. Grace & Co.-Conn (U.S.), NYACOL Nano Technologies Inc. (U.S.), REMET Ecolab Inc. (U.S.), Chemiewerk Bad Köstritz GmbH (Germany), Guangdong Well-Silicasol Co. Ltd. (China), Qingdao Haiyang Chemical Co. Ltd. (China), Jinan Yinfeng Silicon Products Co. Ltd. (China), Sterling Chemicals (U.S.), Makall Group (China)

The Global Colloidal Silica Market Scope can be Tabulated as below