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Global fumed silica market to surpass $1.8 billion by 2029

  2/14/2020 - Pune, India - Fumed silica, also known as pyrogenic silica, has steadily gained traction in the last century. Owing to its pyrogenic production processes, fumed silica possesses an array of fascinating properties which have found widespread utilization in industrial applications. The emergence of trends in drug manufacturing, in tandem with performance improvements in drugs and capsules, will additionally spur sales of fumed silica. Although fumed silica companies continue to find opportunities in paints and coatings, healthcare and personal care products, it is silicone rubber that will expand profit pools of fumed silica manufacturers. Fumed silica for silicone rubbers is well positioned to dominate the demand pie and will capture close to 2/5th demand share by 2029, reveals a recently published report on the global fumed silica market. The global fumed silica market is projected to grow at a steady CAGR of around 5 percent, and is forecast to surpass $1.8 billion by 2029, according to FactMR. The global fumed silica market is anticipated to create a value opportunity of around $9 billion during the forecast period, adding 1.6 times more value in 2029 as compared to 2019. Increasing demand for architectural coatings, followed by OEM coating applications, is expected to drive the hydrophobic fumed silica sales in the coming years. Despite losing slight market share by 2029, silicone rubbers have continued their dominance throughout the forecast period; however, paints and coatings and unsaturated polyester resins have been growing at a faster CAGR. North America accounts for largest market share in global fumed silica market on the backdrop of remarkable development in regional rubber, paint and coating industries. China is showcasing the highest penetrative reach in new markets and accounts for around one third share of overall sales in the global fumed silica market. The global fumed silica market is highly consolidated in nature, with Evonik Industries accounting for a 35-40 percent share in the global fumed silica market in 2019. “(The) shift of fumed silica manufacturers towards greener production processes has been a key market trend. Thus, rapid adoption of sustainable and eco-friendly fumed silica products is foreseen to give impetus to growth of the fumed silica market,” says a report analyst. The fumed silica market is highly consolidated in nature, where top players account for a significant share in the overall supply of fumed silica across the globe. The global market is characterized by the presence of relatively few manufacturers and numerous end users. This disparity between the number of end users and producers tends to tilt the balance in favor of the latter. Thus, key stakeholders emphasize overseas business development and sales apart from the domestic market to get higher cuts in cost margins. Furthermore, strategic collaborations and long term raw materials supply agreements have also been prime focuses of key players.

Friday, February 28, 2020

VMI wins Tire Mnufacturing Innovation of the Year Award at Tire Technology Expo 2020 - click to expand

Arkema board of directors unanimously proposes renewal of the directorship of Thierry Le Hénaff - click to expand

Arburg Technology Days 2020 cancelled - click to expand

Goodyear and Skechers collaborate on footwear - click to expand

Book of the day - Rubber Molding Principles - click to expand

Eastman named Tire Industry Supplier of the Year - click to expand

Thursday, February 27, 2020

Warburg Pincus to invest $150 million in Apollo Tyres - click to expand

Dow Silicones hosts webinar on uses for liquid silicone rubber - click to expand

JEC World 2020 postponed from March 3 to May12 due to coronavirus concerns - click to expand

Cabot Corporation launches engineered elastomer composites solutions - click to expand

ACI's 5th Future of Surfactants Summit North America 2020 to be held in Boston - click to expand

Arkema commits to keeping global warming below 2°C - click to expand

Wednesday, February 26, 2020

Goodyear connected tires said to reduce lost stopping distance - click to expand

Cooper Tire and United Steelworkers Local 207L reach tentative agreement - click to expand

World Rubber Summit 2020 to be held May 4-6 in Abidjan, Ivory Coast - click to expand

International Elastomer Conference 2020 and 2021 space now being secured - click to expand

Trinseo tackles mobility challenges with functionalized polymers at Tire Technology Expo 2020 - click to expand

Birla Carbon App makes debut at Tire Technology Expo 2020 - click to expand

Tuesday, February 25, 2020

4Jet acquires tire inspection business of Hennecke Systems - click to expand

Rahco Rubber promotes Flores to engineering technician - click to expand

Greene Tweed uses flow and cure simulation technology - click to expand

Hehl and Keinath take over RepRap - click to expand

Bicycle bottle from Vaude runs on bio-based TPE from Hexpol - click to expand

Cooper Tire reports full year financial results - click to expand

Monday, February 24, 2020

Cooper Tire & Rubber declares its 192nd consecutive quarterly dividend - click to expand

ARPM releases State of the Rubber Industry report - click to expand

Siemens announces collaboration with McNeil & NRM on a digital twin of the Autolok tire curing press - click to expand

Entrepreneur names Big O Tires in top 100 of The Franchise 500 - click to expand

Engel opens subsidiary in Japan - click to expand

Goldsmith & Eggleton announces laboratory renovation - click to expand

Market Reports

Global lithopene market forecast with a CAGR of 4 percent through 2027 - click to expand

Silicone adhesives market forecast with a CAGR of 8.2 percent through 2025 - click to expand

Global injection molding materials market forecast at $239 billion by 2025 - click to expand

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