Global Colloidal Silica Market, 2023-2028
Market Overview
Silica is industrially manufactured in a variety of forms – including silica gels, precipitated silica, fumed silica, and colloidal silica. Colloidal silica is a suspension of fine amorphous, non-porous, spherical silica particles in liquid phase, unlike other forms of silica. It has the widest ranging surface area. The product has multiple industrial applications including drainage aid, high-temperature binder, investment casting, abrasive, carbonless paper, catalysts, moisture absorbent, powders, granules, abrasion, absorbent, and quantum dots in small semiconductors, which is expected to contribute to product demand.
Colloidal silica can be used in numerous applications and it enhances functionality in an ever-growing number of products. The product acts as an anti-soiling agent, thus, enhancing the performance of waterborne coatings. In cementing applications, it increases strength and durability. Colloidal silica provides durability to structures such as bridges and buildings. In paper-making plants, colloidal silica is used to drain the liquid from the paper. By allowing the water to leave the paper rapidly, the starch in the paper will remain, increasing the strength of the paper. It is used to increase surface friction in many manufacturing plants and factories. The waxed floor is coated with colloidal silica to increase friction, making stacking and handling of finished products safer, easier, and more efficient. Globally, colloidal silica demand was estimated to be around $682.1 million in 2022, in terms of value, and is expected to reach $921.7 million in 2028 at a CAGR of 5.14%.
The global colloidal silica market was dominated by the Asia-Pacific region, and by China and India in particular. In 2022, Asia Pacific held the largest share of the global colloidal silica market and is estimated to register the highest CAGR in the market during the forecast period. The rising demand for colloidal silica in the region is the result of increasing demand from end-use industries such as investment casting, paints and coatings, building and construction, pulp and paper, cosmetics and personal care, electronics, pharmaceuticals and others.
Also, the growth of the automotive and healthcare industries has ultimately created a high demand for colloidal silica in the region due to increasing government initiatives to promote private sector investment in the investment casting industry, especially in China and India. Many multinational automotive as well as healthcare giants have now established production bases in these two countries due to the availability of skilled labor, cheap power sources, and inexpensive raw materials as compared to Europe and North America.
Alkaline colloidal silica is the largest and the fastest growing type during the forecast period. Its demand is projected to reach around $ 389.9 million in 2028, in terms of value, growing at a compound annual growth rate (CAGR) of 5.46% during the forecast period. Alkaline colloidal silica is prepared by titrating an alkaline solution (such as sodium silicate) with silicic acid at a constant pH range. In addition, it is produced by polymerizing silicate nuclei in silicate solutions under alkaline conditions to form nanoscale silica sols with high surface area.
The major application areas of colloidal silica are building and construction, electronics and semiconductors, investment casting, paints and coatings, pulp and paper, and the pharmaceuticals industry. Other applications of colloidal silica include its use as a silica source in the manufacture of zeolites. It also acts as a binder in insulation boards, and other refractory fiber-based parts. Colloidal silica is also a key component in treatment formulations used in the natural and synthetic textile and fabric industries. It provides special finishing effects to blends and fabrics made from fibers and filaments of cotton, wool, and synthetic materials. In beverage applications, colloidal silica is used as a functional processing aid for removing undesirable components from liquids such as wine, juices, ciders, and beer. Among the major end-use industries, the investment casting industry is the largest user of colloidal silica in terms of value and volume during the forecast period.
Competitive Landscape
In the colloidal silica industry, key players such as Nouryon Chemicals B.V., W. R. Grace and Co., and Evonik Industries AG have demonstrated their commitment to developing customer and end-use centric products. These companies have not only implemented strong branding and marketing strategies but have also established robust distribution networks. As a result, the internal competition within the colloidal silica industry is highly intense.
ADEKA Corporation, Cabot Corporation, Chemiewerk Bad Kostritz GmbH, Ecolab Inc. (Nalco Holding Company), Fuso Chemical Co., Ltd., Guangdong Well-Silicasol Co., Ltd., Jinan Yinfeng Silicon Products Co., Ltd., Linyi Kehan Silicon Products Co., Ltd., Merck KGaA, Nissan Chemical Corporation, Nyacol Nano Technologies, Inc., REMET Corporation, Shandong Baite Electronics Co., Ltd., Sterling Chemicals, Inc. (Eastman Chemical Company), Zhejiang Xinna Material Science and Technology Co., Ltd., Zhejiang Yuda Chemical Co., Ltd. are some of the other key players operating in the global colloidal silica market.
Rising demand for colloidal silica in various application industries is likely to prompt manufacturers to expand their production capacities and introduce new products. For instance, in June 2020, W. R. Grace and Co. announced the opening of its new 8,200 square-meter state-of-the-art, colloidal silica plant at its European flagship manufacturing and R&D center in Worms, Germany. The facility doubled the worldwide production capacity of Ludox, Grace’s leading colloidal silica product, and significantly enhanced Grace’s responsiveness to customers in Europe, the Middle East and Africa, (EMEA) and Asia Pacific. In November 2021, Nouryon Chemicals B.V. announced plans to expand production capacity at its Levasil® colloidal silica manufacturing facility in Green Bay, Wisconsin, U.S., to meet increasing demand from the Construction and Packaging end-markets.
Key Questions Answered
What is the projected global market size of colloidal silica by 2028
In the colloidal silica market, which product segment attains the foremost position
Which end user segment generates the most substantial revenue
Which region segment achieves the highest performance in the colloidal silica market
Who are the key players with the largest market share in the colloidal silica market
What is the estimated global market size for the colloidal silica market in 2023
What are the main factors driving the growth of the colloidal silica market
What is the expected incremental growth of the colloidal silica market during the forecast period
1. Introduction 1
Report Description 1
Study Goals 1
Market Segment 1
Research Methodology 2
Information Sources 2
Primary Research 2
Secondary Research 3
Geographic Breakdown 3
2. Key Findings 5
3. Market Overview 9
Introduction 9
Market Dynamics 9
Drivers 9
Restraints 9
4. Colloidal Silica Market by Product 10
Overview 10
Acidic Colloidal Silica 11
Market Size and Forecast 12
Acidic Colloidal Silica Market, by Region 13
Alkaline Colloidal Silica 13
Market Size and Forecast 14
Alkaline Colloidal Silica Market, by Region 15
Modified Colloidal Silica 15
Market Size and Forecast 16
Modified Colloidal Silica Market, by Region 17
Ordinary Colloidal Silica 17
Market Size and Forecast 18
Ordinary Colloidal Silica Market, by Region 19
5. Colloidal Silica Market by Application 20
Overview 20
Building and Construction 22
Colloidal Silica for Building and Construction Market, Size and Forecast 22
Colloidal Silica for Building and Construction Market, by Region 23
Electronics and Semiconductors 23
Colloidal Silica for Electronics and Semiconductors Market, Size and Forecast 24
Colloidal Silica for Electronics and Semiconductors Market, by Region 25
Investment Castings 25
Colloidal Silica for Investment Castings Market, Size and Forecast 26
Colloidal Silica for Investment Castings Market, by Region 27
Paints and Coatings 27
Colloidal Silica for Paints and Coatings Market, Size and Forecast 28
Colloidal Silica for Paints and Coatings Market, by Region 29
Pharmaceuticals 29
Colloidal Silica for Pharmaceuticals Market, Size and Forecast 30
Colloidal Silica for Pharmaceuticals Market, by Region 31
Pulp and Paper 31
Colloidal Silica for Pulp and Paper Market, Size and Forecast 32
Colloidal Silica for Pulp and Paper Market, by Region 33
Others 33
Colloidal Silica for Others Market, Size and Forecast 34
Colloidal Silica for Others Market, by Region 35
6. Colloidal Silica Market by Geography 36
Overview 36
Market Size and Forecast 36
North America 37
Market Size and Forecast 38
Key Countries 40
United States 40
Canada 41
Mexico 41
Europe 42
Market Size and Forecast 42
Key Countries 44
Germany 45
France 46
UK 46
Italy 47
Spain 48
Rest of The Europe 48
Asia-Pacific 50
Market Size and Forecast 50
Key Countries 52
China 53
Japan 53
India 54
South Korea 55
Australia 55
Rest of Asia-Pacific 56
MEA 56
Market Size and Forecast 57
Key Countries 59
Saudi Arabia 59
Turkey 60
South Africa 61
Rest of MEA 61
Latin America 62
Market Size and Forecast 62
Key Countries 64
Brazil 65
Rest of Latin America 65
7. Key Competitor Profiles 67
Evonik Industries AG 67
Company Information 67
Product and Services 67
Business Overview 67
SWOT Analysis 68
Fuso Chemical Co., Ltd. 68
Company Information 68
Product and Services 68
Business Overview 69
SWOT Analysis 69
Nouryon Chemicals B.V. 70
Company Information 70
Product and Services 70
Business Overview 70
SWOT Analysis 71
Nissan Chemical Corporation 71
Company Information 71
Product and Services 71
Business Overview 71
SWOT Analysis 72
W. R. Grace and Co. 72
Company Information 72
Product and Services 72
Business Overview 73
SWOT Analysis 73
8. Other Prominent Vendors 75
ADEKA Corporation 75
Cabot Corporation 75
Chemiewerk Bad Kostritz GmbH 75
Ecolab Inc. (Nalco Holding Company) 75
Guangdong Well-Silicasol Co., Ltd. 75
Jinan Yinfeng Silicon Products Co., Ltd. 75
Linyi Kehan Silicon Products Co., Ltd. 75
Merck KGaA 75
Nyacol Nano Technologies, Inc. 75
REMET Corporation 75
Shandong Baite Electronics Co., Ltd. 75
Sterling Chemicals, Inc. (Eastman Chemical Company) 75
Zhejiang Xinna Material Science and Technology Co., Ltd. 75
Zhejiang Yuda Chemical Co., Ltd. 75
9. Appendix 76
Methodology/Research Approach
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.Research Programs/Design
| Historical Data (2015-2019) |
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| Market Forecast (2021-2026) |
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Market Size Estimation
Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).
The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.
Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report
The following figure shows an illustrative representation of the overall market size estimation process used for this study.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.
Data Source
Secondary Sources
Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.
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Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.
Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.
Key Executives Interviewed
Key Data Information from Primary Sources
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