Report : North America Colloidal Silica Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type (Alkaline, Acidic, Modified, and Ordinary) and Application (Pulp and Paper, Building and Construction, Paints and Coatings, Electronics and Semiconductors, Pharmaceuticals, Investment Casting, and Others)
At 5.7% CAGR, the North America Colloidal Silica Market is speculated to be worth US$ 2,29,428.50 thousand by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America colloidal silica market was valued at US$ 1,56,154.56 thousand in 2021 and is expected to reach US$ 2,29,428.50 thousand by 2028, registering an annual growth rate of 5.7% from 2021 to 2028. Growth of investment casting industry and versatility of colloidal silica are the critical factors attributed to the market expansion.
Colloidal silica is a highly versatile material that can enhance the properties of many products from various industries such as building & construction to food & beverages. From enhancing oxygen barrier properties to improving ink absorption, colloidal silica plays different roles in manufacturing processes. Further, colloidal silica is widely used in the electronics industry, and it is used as a polishing agent to produce a clean surface in semiconductor wafers. Colloidal silica forms strong hydrogen and ionic bonds with fibrous and granular material in binder applications. These bonds are chemically inert and thermally stable, making them especially useful for insulation boards, catalysts, specialty coatings, vacuum-formed refractories, and investment casting slurries. Colloidal silica adheres well to many surfaces via hydrogen and ionic bonding for surface modification applications. Once applied to a surface, silica particles increase friction coefficient, useful for industrial and architectural coatings, polishing slurries, flooring, and paper and cardboard. For flocculant applications, colloidal silica is commercially available in many grades with cationic sol charge and anionic sol charge. Colloidal silica particles fall out of suspension by ironically bonding with particles of opposite charge. This property makes colloidal silica an excellent flocculant for insulation board, beverage fining (wine and beer), and paper drainage and retention. Colloidal silica is available in various grades that are heavily dependent on functionality for colloidal silica and the end-use application. Colloidal silica constituting a grade with larger particle size is more effective as a surface modifier, while smaller particles perform better as binders. Other factors such as ionic character and pH of the end formulation help determine the characteristics of colloidal silica, which may be used in various end-use industries depending on the requirement. The versatility of colloidal silica has ensured the consistent demand for the chemical from various end-use industries that are anticipated to grow over the coming years. Therefore, the growth of end-use industries drives the market for colloidal silica.
On the contrary, decline in textile industry hinders hurdles the growth of North America colloidal silica market.
Based on product type, the North America colloidal silica market is segmented into alkaline, acidic, modified, and ordinary. The alkaline segment held 43.8% market share in 2021, amassing US$ 68,431.61 thousand. It is projected to garner US$ 1,03,454.86 thousand by 2028 to expand at 6.1% CAGR during 2021–2028.
Based on application, the North America colloidal silica market is segmented into pulp and paper, building and construction, paints and coatings, electronics and semiconductors, pharmaceuticals, investment casting, and others. The others segment held 30.4% market share in 2021, amassing US$ 47,470.85 thousand. It is projected to garner US$ 68,907.88 thousand by 2028 to expand at 5.5% CAGR during 2021–2028.
Based on country, the North America colloidal silica market has been segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.6% market share in 2021. It was assessed at US$ 1,30,507.62 thousand in 2021 and is likely to hit US$ 1,93,578.00 thousand by 2028, exhibiting a CAGR of 5.8% during the forecast period.
Key players dominating the North America colloidal silica market are Cabot Corporation; Ecolab; Evonik Industries AG; FUSO CHEMICAL CO., LTD.; Jinan Yinfeng Silicon Products Co., Ltd.; MERCK KGaA; Nissan Chemical Corporation; Nouryon; The Dow Chemical Company; and Zhejiang Yuda Chemical Co.,Ltd. among others.
- In Nov 2021, Nouryon, a global specialty chemicals leader, announced plans to expand production capacity at its Levasil colloidal silica manufacturing facility in Green Bay, Wisconsin, U.S., to meet increasing demand from the construction and packaging end-markets.
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