NanoSilica Market Trend, Forecast, Drivers, Restraints, Company Profiles and Key Players Analysis by 2027

Author : thomasburns

Publish Date : 2021-02-17 13:06:39

NanoSilica Market Trend, Forecast, Drivers, Restraints, Company Profiles and Key Players Analysis by 2027

Market Size – USD 3.32 Billion in 2019, Market Growth - CAGR of 7.5%, Market Trends – Increasing demand across the agricultural, construction, and electronics industries

The global nanosilica market is expected to be valued at USD 5.95 Billion in 2027 from USD 3.32 Billion in 2019, registering a CAGR of 7.5% through the forecast period. Nanosilica (also known as silica nanoparticles) is a white powder containing high-purity amorphous silica powder. Due to its small particle size, nanosilica has a large surface area and exhibits strong surface adsorption, high chemical purity, robust surface energy, and improved dispersion. It finds significant application in biomedical research due to its low toxicity and stability. The global nanosilica market is projected to account for a significantly high revenue over the estimated period. The crucial factors propelling the global market growth include the extensive usage of nanosilica in the construction industry as efficient additives in concrete and coatings, growing adoption of nano-fertilizers in agriculture, and the soaring demand across the healthcare, food & beverage, plastics, and electronics industries.

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Nanosilica is in high demand in the paints & coatings industry for its high water contact angle and superior hydrophobicity. Nanosilica is combined with concrete in order to enhance its strength, while reducing its environmental impact. Nanosilica finds significant application in the manufacture of rubber as an additive in natural rubber and synthetic rubbers, including styrene-butadiene rubber (SBR), ethylene acrylic rubber (AEM), ethylene propylene diene monomer (EPDM), nitrile rubber (NBR), and silicone rubber. Moreover, the increasing construction and engineering applications of biosynthesized nanosilica, including the soil stabilization process, further boost the global market growth.

Key findings from report:

Based on product type, the S-type sub-segment accounted for the most significant market share of 43.1% in 2019. This segment is expected to maintain its market dominance throughout the forecast period, owing to the growing use of S-type nanosilica in the healthcare industry for its biocompatibility properties.
In terms of application, the buildings & construction sub-segment is foreseen as the leading market segment, exhibiting a robust CAGR of 6.9%. Nanosilica is mostly blended with concrete as an additive to augment its tensile strength, compressive strength, stability.
The Asia Pacific region, followed by North America and Europe, is expected to emerge as the largest regional market for nanosilica over the projected timeframe. The regional market growth is primarily attributed to the rapid industrialization and urbanization, especially in developing countries like China and India, a rise in construction and infrastructural development activities, and growing applications of nanosilica in concrete, paints & coatings, rubber, food, and medicine, and others.
Prominent companies operating in the global nanosilica market include Bee Chems, Wacker Chemie AG, Dow Corning Corporation, Fuso Chemical Co. Ltd, NanoPore Incorporated, Nanostructured and Amorphous Materials, Inc. (NanoAmor), Cabot Corporation, I. du Pont de Nemours and Company, AkzoNobel N.V., and Evonik Industries.
In February 2020, HPQ Silicon Resources Inc., a leading innovative silicon solutions provider, in collaboration with PyroGenesis Canada Inc., announced the development of a novel, low-cost manufacturing process, dubbed PUREVAP, for silicon metal (Si) nano-powders and silicon nanowires for next-generation lithium-ion batteries.

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For the purpose of this report, the global nanosilica market has been segmented on the basis of product type, application, distribution channel, and region:

By Product Type (Revenue, USD Billion; 2017-2027)