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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.

Tuesday, February 18, 2020

Dow and Johnson Matthey technology selected for butanol facility in China - click to expand

Hankook Tire partners with Amazon Web Services for high-tech digital solutions and machine learning - click to expand

KraussMaffei to layoff 8 percent of workforce due to declining sales - click to expand

Japan's carbon black demand falls for second consecutive year - click to expand

Two Yokokama tires win prestigious Good Design awards - click to expand

Monday, February 17, 2020

Recovered carbon black market forecast with a CAGR of 16 percent through 2024 - click to expand

Watson-Marlow launches silicone transfer tubing developed for bioprocess fluid transfer - click to expand

Vibram signs multi-year partnership agreement with Pensole Academy - click to expand

Toyo Tires to transfer Truck and Bus Air Spring Business to Nitta Group - click to expand

Yokohama Rubber posts record earnings in 2019 - click to expand

Goodyear unveils new brand campaign during Daytona 500 - click to expand

Friday, February 14, 2020

Comar to expand west coast facilities - click to expand

Toshiba Machine to oppose takeover by activist investor - click to expand

Goldsmith & Eggleton laboratory renovation announced - click to expand

Global fumed silica market to surpass $1.8 billion by 2029 - click to expand

Book of the Day: Rubber & Tire Technology, Volume 1 - click to expand

Global carbon black market to reach $10.9 billion by 2025 - click to expand

Thursday, February 13, 2020

Kraton to exhibit tread enhancement additives at Tire Technology Expo in Hannover - click to expand

First Graphene signs exclusive supply agreement with Steel Blue - click to expand

Learning and networking opportunities offered at Rubber Division, ACS 197th Technical Meeting - click to expand

NTB to sell 112 locations to Mavis Discount Tire - click to expand

Lanxess vegan processing promoters ensures CO2 savings in tire production - click to expand

Solvay and PDI Healthcare collaborate on disinfectant resistance testing of specialty polymers - click to expand

Wednesday, February 12, 2020

SWM advanced materials for face masks help address worldwide mask shortage - click to expand

Goodyear reports fourth quarter and full year financial results - click to expand

ASTM International rubber standard aims to improve silica quality - click to expand

Cambodia reports 30 percent increase in rubber exports - click to expand

Global automotive high-performance tires market forecast with a CAGR of 16 percent through 2023 - click to expand

Lanxess to showcase versatile and sustainable solutions at Tire Technology Expo - click to expand

Tuesday, February 11, 2020

Milacron exhibiting all-electric Roboshot LSR machine at MD&M West - click to expand

Global automotive OEM tire market forecast shows growth through 2025 - click to expand

Bridgestone Retail Operations raises nearly $4 million for Boys & Girls Clubs of America - click to expand

OSHA announces new emphasis on silica standards - click to expand

Cooper Tire to announce fourth quarter and full year financial results February 24 - click to expand

GRTE 2020 Global Rubber, Latex and Tire Expo rescheduled due to coronavirus - 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

Global carbon black market to reach $10.9 billion by 2025 - click to expand

Recovered carbon black market forecast with a CAGR of 16 percent through 2024 - click to expand

Global fumed silica market to surpass $1.8 billion by 2029 - click to expand

Global automotive high-performance market forecast with a CAGR of 16% through 2023 - click to expand

Global automotive OEM tire market forecast shows growth through 2025 - click to expand

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