The Latest Fumed Silica Industry Statistics Explained
The global fumed silica market size was valued at USD 1.22 billion in 2020.
The statistic stating that the global fumed silica market size was valued at USD 1.22 billion in 2020 represents the total value of fumed silica products sold worldwide during that particular year. Fumed silica is a key raw material used in various industries such as pharmaceuticals, cosmetics, adhesives, and coatings. The market size figure indicates the revenue generated by companies producing and selling fumed silica products in 2020. This statistic is crucial for understanding the scale and economic significance of the fumed silica industry, providing valuable insights for market players, investors, and policymakers in assessing the market’s growth, trends, and potential opportunities for further development.
The fumed silica industry is expected to expand at a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028.
This statistic indicates that the fumed silica industry is projected to grow steadily at a compound annual growth rate (CAGR) of 4.4% over the period from 2021 to 2028. A CAGR of 4.4% suggests a moderate but consistent rate of expansion for the industry, reflecting a positive outlook for the market. This growth rate can be interpreted as a measure of the industry’s potential for generating increased revenue and market share in the coming years. Factors contributing to this growth could include advancements in technology, increasing demand for fumed silica in various applications such as paints, adhesives, and coatings, as well as a growing emphasis on sustainability and eco-friendly products in the industrial sector.
The hydrophilic product segment accounted for the largest revenue share of over 55.0% in 2020.
This statistic indicates that the hydrophilic product segment generated the highest proportion of revenue compared to other product segments in the market in 2020, capturing over 55.0% of the total revenue share. This suggests that the hydrophilic products, which are likely designed to attract or absorb water, were the most popular or in-demand among consumers or clients within the industry during that period. The strong performance of the hydrophilic product segment signifies its significant contribution to the overall financial success and growth of the market in 2020, highlighting its importance in driving revenue for businesses operating in this sector.
The paints & coatings application segment led the market and accounted for more than 30.0% share of the global revenue in 2020.
The statistic indicates that the paints & coatings application segment was the largest contributor to the global revenue in 2020, accounting for over 30.0% of the market share. This suggests that the paints & coatings industry had a significant impact on the overall market performance during that year. The dominance of this segment highlights its importance and widespread use across various industries and applications. It may also signify the strong demand for paints & coatings products globally, driving substantial revenue generation within the market.
Fumed silica market in Asia-Pacific is projected to reach US$642 million by 2027.
The statistic “Fumed silica market in Asia-Pacific is projected to reach US$642 million by 2027” refers to the anticipated market size for fumed silica, a key ingredient used in various industries such as pharmaceuticals, cosmetics, and construction, in the Asia-Pacific region by the year 2027. The projection suggests a growth trend in the demand and consumption of fumed silica in the region over the forecast period. This estimate is crucial for businesses operating in the fumed silica market as it provides insights into potential opportunities for expansion, product development, and market positioning strategies in the Asia-Pacific region.
The U.S. Market is Estimated at $266.3 Million in 2020, while China is forecast to grow at 6.8% CAGR.
This statistic presents the estimated market size for the United States in 2020 at $266.3 million, indicating the total value of goods and services traded within the country during that year. Additionally, it highlights China’s forecasted growth rate of 6.8% CAGR (Compound Annual Growth Rate), suggesting that China’s market is expected to expand steadily at an annual rate of 6.8% over a specified period. This information provides insights into the relative market sizes of these two countries and the anticipated growth trajectory for the Chinese market in comparison to the U.S., signaling potential opportunities and trends for investors and businesses operating in these regions.
Europe is anticipated to witness a CAGR of 4.2% from 2021 to 2027.
The statement means that the economy of Europe is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.2% from 2021 to 2027. CAGR is a measure used to describe the average annual growth rate of an investment over a certain period of time, assuming that the growth happens steadily over the period. In this case, the statistic suggests that the European economy is projected to expand by an average of 4.2% annually over the next six years. This indicates potential economic strength and growth opportunities within the region during the specified timeframe.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.1% and 2.8% respectively over the 2020-2027 period.
This statistic indicates the projected growth rates for the geographic markets of Japan and Canada from the year 2020 to 2027. Japan is expected to experience a growth rate of 2.1%, while Canada is forecasted to grow at a higher rate of 2.8%. These growth rates signify the anticipated economic expansion in these countries and suggest positive trends in terms of business opportunities and market development. The differing growth rates also highlight potential variations in economic conditions, industry performance, and consumer behaviors between Japan and Canada during the specified period.
The pharmaceuticals segment is expected to witness significant growth, registering a CAGR of 4.3% in terms of revenue over the forecast period.
This statistic suggests that the pharmaceuticals segment is forecasted to experience substantial growth in terms of revenue over the specified period. The Compound Annual Growth Rate (CAGR) of 4.3% indicates the average annual growth rate of revenue for the pharmaceuticals industry during this period. A CAGR of 4.3% signifies steady and consistent growth in the sector, showcasing promising opportunities for companies operating within the pharmaceuticals segment. This growth trend implies an increasing demand for pharmaceutical products and services, potentially driven by factors such as technological advancements, demographic shifts, and evolving healthcare needs, positioning the pharmaceuticals industry as a lucrative and dynamic market for investment and expansion.
Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.
The statistic indicates that Germany is expected to achieve a Compound Annual Growth Rate (CAGR) of around 3.1% within Europe. This means that the German economy is projected to expand by an average annual rate of 3.1% over the specified time period. A CAGR is a useful metric to assess the growth rate of a country’s economy over time, providing a smooth and consistent representation of growth trends. In this context, the forecast suggests that Germany is poised for positive economic growth relative to other European countries, indicating a level of economic resilience and potential for continued development within the region.
The hydrophobic fumed silica segment is projected to ascend at a CAGR of 4.8% from 2021 to 2028.
This statistic means that the hydrophobic fumed silica segment, a type of material used in various industries such as cosmetics, pharmaceuticals, and automotive, is expected to experience a compound annual growth rate (CAGR) of 4.8% between 2021 and 2028. This growth rate indicates the average annual growth percentage over this time period. The projection suggests that demand for hydrophobic fumed silica is likely to increase steadily over the next several years, reflecting potential opportunities for companies operating in this segment to expand their market presence and revenue. The CAGR provides a useful metric for understanding the long-term growth prospects of the hydrophobic fumed silica industry segment.
The silicone rubber application segment is projected to register a CAGR of 4.7% over the forecast period.
This statistic indicates that the silicone rubber application segment is expected to experience a Compound Annual Growth Rate (CAGR) of 4.7% over the forecast period. A CAGR of 4.7% means that the market for silicone rubber applications is projected to grow by an average rate of 4.7% each year during the forecast period. This growth rate suggests a steady expansion in the demand for silicone rubber across various industries that use this material, such as automotive, healthcare, electronics, and construction. Factors driving this growth may include technological advancements, increasing awareness about the benefits of silicone rubber, and its versatile applications in different sectors.
The adhesives & sealants segment held 17.8% share of the global revenue in 2020.
This statistic indicates that the adhesives & sealants industry accounted for 17.8% of the total global revenue in 2020. This segment includes products used for joining materials together and creating airtight or watertight seals in various applications across industries such as construction, automotive, packaging, and healthcare. The fact that adhesives & sealants held a significant share of global revenue highlights the importance and widespread usage of these products in different sectors of the economy. This statistic suggests that the adhesives & sealants segment is a key player in the global market, influencing economic trends and reflecting the demand for bonding and sealing solutions worldwide.
Evonik Industries AG was the largest manufacturer and held more than 30.0% of the overall volume share in 2020.
This statistic indicates that Evonik Industries AG held a dominant position in the manufacturing industry in 2020, as it was the largest manufacturer and accounted for more than 30.0% of the total volume share. This suggests that Evonik Industries AG was a significant player in the market, potentially outperforming its competitors in terms of production output or market presence. Having such a substantial share of the overall volume indicates a strong market position, likely leading to influence in pricing, market trends, and potentially even regulatory matters within the industry.
Agreements and partnerships are the most adopted strategies by industry players to sustain competition in the market.
The statistic suggests that agreements and partnerships are the most commonly utilized strategies by companies within an industry to maintain competitiveness in the market. By forming alliances and collaborations with other players in the industry, companies can leverage each other’s strengths, resources, and expertise to stay ahead of the competition. This collaborative approach allows businesses to access new markets, technologies, and opportunities that they may not have been able to achieve on their own. Overall, agreements and partnerships serve as key tools for industry players to enhance their competitive edge and drive growth in a rapidly changing market environment.
China, the world second largest economy, is forecast to reach an estimated market size of US$336 Million in the year 2027.
The statistic indicates that China, currently the world’s second-largest economy, is projected to achieve a market size of US$336 million by the year 2027. This forecast suggests significant growth and opportunity within the Chinese market sector. The size of the market reflects the total value of goods and services exchanged within the economy, highlighting the substantial economic activity and potential for businesses operating in China. This statistic signals a positive outlook for investors and businesses looking to capitalize on the expanding market opportunities in China over the coming years.
Unsaturated polyester resins is expected to remain the fastest growing application, with a CAGR of 5.9% from 2021 to 2027.
The statistic indicates that the application of unsaturated polyester resins is projected to experience significant growth, with a Compound Annual Growth Rate (CAGR) of 5.9% from 2021 to 2027. This suggests that there is a growing demand for unsaturated polyester resins in various industries such as construction, automotive, marine, and others during the forecast period. The high CAGR indicates a strong potential for market expansion and indicates that this particular application is expected to outperform others in terms of growth rate. This statistic provides valuable insights for businesses operating in the unsaturated polyester resin industry, enabling them to make informed decisions regarding investments, production planning, and market positioning to capitalize on this anticipated growth trend.
The Hydrophilic Fumed Silica segment will be growing at a CAGR of 4.5% over the analysis period 2020 to 2027.
The statistic indicates that the Hydrophilic Fumed Silica segment is expected to experience a Compound Annual Growth Rate (CAGR) of 4.5% from 2020 to 2027. This means that on average, the segment is projected to grow by 4.5% each year during this period. The CAGR provides a more comprehensive view of growth trends compared to simple annual growth rates, as it considers the effect of compounding. Therefore, this statistic suggests that the Hydrophilic Fumed Silica market is likely to see steady and sustainable growth over the specified analysis period.
The hydrophobic fumed silica segment is estimated at US$353.4 Million in the year 2020.
The statistic “The hydrophobic fumed silica segment is estimated at US$353.4 Million in the year 2020” indicates that the market value of hydrophobic fumed silica products in 2020 is approximately $353.4 million. This value represents the total revenue generated from the sale of hydrophobic fumed silica, a specialized material used in various industries such as pharmaceuticals, paints, and coatings. The estimation suggests that there is demand for these products in the market, and the substantial market value highlights the significance of hydrophobic fumed silica in various applications and industries. This statistic provides valuable insights for businesses, investors, and researchers in understanding the market size and potential opportunities within the hydrophobic fumed silica industry.
The global fumed silica market is highly consolidated with four manufacturers, including Evonik Industries, Cabot Corp, Wacker Chemie, and OCI Company Ltd., accounting for over 75.0% of the overall production capacity.
The statistic indicates that the global fumed silica market is dominated by four major manufacturers: Evonik Industries, Cabot Corp, Wacker Chemie, and OCI Company Ltd., which collectively hold a significant portion of the overall production capacity, accounting for over 75.0% of the market. This level of concentration points to a highly consolidated market structure where the majority of the market share is controlled by a small number of key players. As a result, these four manufacturers have a considerable influence on market dynamics, pricing strategies, and industry trends within the fumed silica market, potentially leading to a higher degree of competition and barriers to entry for new market entrants.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.globenewswire.com
