Market Introduction
Colloidal silica is used in different end-use industries such as building & construction, pharmaceutical, cosmetic & personal care, and pulp & paper. Colloidal silica is actively used as an abrasion-resistant as well as an additive in these industries. The Asia Pacific colloidal silica market is segmented based on product type, application, and country.
Market Overview and Dynamics
The Asia Pacific colloidal silica market was valued at US$ 338.4 million in 2021 and is projected to reach US$ 525.0 million by 2028; it is expected to grow at a CAGR of 6.5% from 2021 to 2028.
Aqueous colloidal silica is manufactured from basic ingredients such as water and sand and is easily available in industries. The chemical properties of colloidal silica, such as high surface area and excellent chemical reactivity, make it highly effective as a binder to stabilize a range of products such as high-temperature insulators, ceramics, and chemical catalysts. The development of specialized forms of colloidal silica for various applications has widened the scope of the colloidal silica market. For instance, the material can be used for applications such as agriculture and catalysts due to its high purity and inert nature. Colloidal silica can be found in diverse applications, ranging from delivering encapsulated therapeutic agents to fire retardants. Thus, the potential applications of colloidal silica are expected to provide lucrative opportunities for the market over the forecast period.
Key Market Segments
Based on product type, the Asia Pacific colloidal silica market is segmented into alkaline, acidic, modified, and ordinary. In 2020, the alkaline segment held the largest share of the Asia Pacific colloidal silica market. Alkaline colloidal silica has witnessed strong growth in investment casting applications for developing complex structures. This material has a high binding nature, which strengthens its scope in the application compared to other product types. Thus, the increasing application of alkaline colloidal silica in investment casting will drive the colloidal silica market in the region.
Based on application, the Asia Pacific colloidal silica market is segmented into pulp and paper, building and construction, paints and coatings, electronics and semiconductors, pharmaceutical, investment casting, and others. In 2020, the others segment held the largest share of the Asia Pacific colloidal silica market. The other segment includes personal care, food and beverage, etc. The colloidal silica is used as the rheological additive in the personal care industry, thickening additive for maintaining the viscosity of epoxy, improving flocculation in food and beverage processing, and to increase the stability and shelf life of beverages. Thus, the increasing application of colloidal silica in the food & beverages sector will drive the colloidal silica market in the region.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Asia Pacific colloidal silica market are paid databases (Factiva), publications, hoovers, investor presentations, newsletters, sec archives, annual reports, and other information available in the public domain. Nouryon; Nissan Chemical Corporation; Jinan Yinfeng Silicon Products Co., Ltd.; FUSO CHEMICAL CO., LTD.; YOUNG IL CHMICAL CO., LTD.; Zhejiang Yuda Chemical Co., Ltd.; Dr. Khan Industrial Consultants Pvt. Ltd. ( DKIC); GuangDong Well-Silicasol Co., Ltd; Qingdao Hai Wan Chemical (Group) Co., Ltd.; and BeeChems are some of the major players operating in the Asia Pacific colloidal silica market.
Reasons to buy report
Asia Pacific colloidal silica Market Segmentation
Asia Pacific colloidal silica Market, by Product Type
Asia Pacific colloidal silica Market, by Application
Asia Pacific colloidal silica Market, by Country
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