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Nano Silica Market is Expected to Reach $6.4 Billion by 2030

 

Report Code : A02110

quote The global nano silica market is expected to head toward expansion in the coming years, owing to rise in demand for nano silica from building and construction, coatings, and healthcare industry. Rise in demand for concrete from the building & construction industry across the globe has increased the demand for nano silica as they are used as admixtures to reduce thermal cracking caused by the heat of cement hydration, improve durability to attack by sulfate and acidic waters, and increase strength. Growing construction industry across the globe is expected to surge the demand for nano silica to be used as admixture in concrete during the forecast period quote

Eswara Prasad
Manager, Chemical and Material at Allied Market Research

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According to a new report published by Allied Market Research, titled, Nano silica Market: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global nano silica market was valued at $3.6 billion in 2020, and is projected to reach $6.4 billion by 2030, growing at a CAGR of 6.0% from 2021 to 2030.

Nano silica is an allotrope of silicon, a poor conductor of electrons and heat. It appears in the amorphous form of a white powder. It is used as an additive for rubber and plastics, as a strengthening filler for concrete and other construction composites, a non-toxic platform for biomedical applications such as drug delivery, biomedical imaging, detecting, therapeutic delivery, monitoring, ablative therapies and diagnostic.

The rising global nano silica production drives the market growth due to an increase in nano-silica usage in various application segments such as concrete, agriculture, gypsum, battery nano-silica others. The ability of raw materials such as silica and silicate to produce nano-silica boosts the market growth. Growing concerns over renewable sources and they envision silica production and for nano-silica. For instance, organic coating, i.e., silica from rice husk, a smart coating material with self-cleaning properties, is applied on surfaces for preventing corrosion and dust. It is a non-toxic, durable coating applied to all household appliances, buildings, automobiles and industrial components.

However, toxicity of silica fumes is expected to hamper the growth of the nano silica market during the forecast period. Furthermore, growing usage of nano silica in RNA/DNA delivery systems in innovation of vaccines is expected to provide growth opportunities for the nano silica market during the forecast period.

By product, the global nano silica market size is studied across P-type, S-type, and Type III. The P-type segment accounted for the largest market share in 2020, owing to its growing consumption as admixture for concrete in building & construction industry. The P-type segment dominated the global nano silica market with more than two-fifths of the total market share in 2020.

By application, the global nano silica market is studied across concrete, rubber, electronics, healthcare, coatings, agriculture, plastics, and others. The rubber segment accounted for the largest market share in 2020, owing to surge in its demand from automotive, and building & construction industry. The rubber segment dominated the global nano silica market with nearly one-third of the total market share in 2020.

Region-wise, the global nano silica market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for a major nano silica market share in 2020, and dominated the global market with more than two-fifths of the total market share in 2020.

The major players studied and profiled in the global nano silica market are Evonik Industries, Akzonobel N.V., E. I. DU Pont De Nemours and Company, Cabot Corporation, Nanopore Incorporated, Nanostructured & Amorphous Materials, Inc. (NANOAMOR), Fuso Chemical Co. Ltd., Wacker Chemie AG, Dow Corning Corporation, and Bee Chems.

COVID-19 Analysis:

  • According to the International Monetary Fund (IMF), owing to the outbreak of novel coronavirus (COVID-19), the global economy shrunk by 3.0% in 2020. Many countries are under strict lockdowns, which have forced several sectors to shut down their operations. This has halted manufacturing activities and reduced the demand and production of nano silica.
  • The COVID-19 (coronavirus) pandemic has impacted a large number of countries worldwide. Various preventive measures such as lockdowns, suspension of trade activities, and closure of factories are negatively affecting the nano silica market. However, companies in the market landscape are responding positively to the advisory issued by governments to safeguard the health of workers and employees. One of the major drawbacks of the COVID-19 crisis is the temporary shutdown of manufacturing units, which has directly affected revenue generation activities. Coronavirus pandemic has caused a slowdown in global foreign direct investment (FDI). A major shrink in FDI investments indicate adverse effects on the nano silica market, due to closure of factories in the energy, chemicals, and electronics industries.

Key findings of the study

  • In 2020, Asia-Pacific dominated the global nano silica market with around 47.5% share, in terms of revenue. In addition, it is also projected to grow at the highest CAGR of 4.5% in terms of value.
  • The P-type segment dominated the global nano silica market with around 47.6% of the share in terms of revenue.
  • The S-type segment is projected to grow at the highest CAGR of 6.3% in terms of revenue.
  • The rubber segment dominated the global nano silica market with around 32.8% of the share in terms of revenue.
  • The coatings segment is projected to grow at the highest CAGR of 7.2% in terms of revenue.

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quote Nano Silica Market by Product (P-type, S-type, and Type III) and Application (Concrete, Rubber, Electronics, Healthcare, Coatings, Agriculture, Plastics, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030 quote

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