Report : South 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 4.5% CAGR, the SAM Colloidal Silica Market is speculated to be worth US$ 41,478.66 thousand by 2028, says Business Market Insights
According to Business Market Insights’ research, the SAM colloidal silica market was valued at US$ 30,468.13 thousand in 2021 and is expected to reach US$ 41,478.66 thousand by 2028, registering an annual growth rate of 4.5% from 2021 to 2028. Widening scope of aqueous colloidal silica and product innovation are the critical factors attributed to the market expansion.
Aqueous colloidal silica is an important industrial product manufactured from basic ingredients such as water and sand. The chemical properties of colloidal silica allow the material to be extremely versatile. For instance, the tiny silica particles offer high surface area and excellent chemical reactivity, making it highly effective as a binder to stabilize a range of products such as high—temperature insulators, ceramics, and chemical catalysts. Another example of colloidal silica explains how colloidal silica particles can be used in different conditions, such as structuring agents for applications ranging from delivering encapsulated therapeutic agents to fire retardants. Despite abundant applications of colloidal silica, the material still has considerable untapped potential. The key functional properties of colloidal silica have enabled the market players to discover new and innovative applications that have continued to emerge for this versatile material. Thus, the innovative applications of colloidal silica are expected to provide lucrative opportunities in the market over the forecast period.
On the contrary, decline in textile industry hinders hurdles the growth of SAM colloidal silica market.
Based on product type, the SAM colloidal silica market is segmented into alkaline, acidic, modified, and ordinary. The alkaline segment held 48.1% market share in 2021, amassing US$ 14,644.66 thousand. It is projected to garner US$ 20,595.70 thousand by 2028 to expand at 5.0% CAGR during 2021–2028.
Based on application, the SAM colloidal silica market is segmented into pulp and paper, building and construction, paints and coatings, electronics and semiconductors, pharmaceuticals, investment casting, and others. The investment casting segment held 24.3% market share in 2021, amassing US$ 7,407.51 thousand. It is projected to garner US$ 10,455.32 thousand by 2028 to expand at 5.0% CAGR during 2021–2028.
Based on country, the SAM colloidal silica market has been segmented into Brazil, Agrentina, and rest of SAM. Our regional analysis states that Brazil captured 47.3% market share in 2021. It was assessed at US$ 14,419.16 thousand in 2021 and is likely to hit US$ 20,055.21 thousand by 2028, exhibiting a CAGR of 4.8% during the forecast period.
Key players dominating the SAM colloidal silica market are Cabot Corporation; Ecolab; Evonik Industries AG; Jinan Yinfeng Silicon Products Co., Ltd.; MERCK KGaA; Nissan Chemical Corporation; Nouryon; The Dow Chemical Company; and Zhejiang Yuda Chemical Co.,Ltd. among others.
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