Nanosilica Market 2024 Competitive Analysis and Forecast to 2033 with massive CAGR Development

Custom Market Insights (CMI) estimates the global nanosilica market size at USD 3.46 billion in 2021 and projects it will reach around USD 5.95 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.6% from 2022 to 2030. Nanosilica, also known as silicon dioxide and nanoparticles, appears as a puffy white powder. It is a compound of silicon and the second most abundant element on the planet.

Wide-Ranging Applications of Nanosilica

The nanosilica has a wide range of applications in various end-use industry such as adhesive and sealant, paint and coating, biomedical, pharmaceutical, rubber and plastics, and many others. Nanosilica has large surface energy, strong surface adsorption due to its fine particle, high chemical purity, and good dispersion.

R&D and Production Boost Drive Nanosilica Market Growth

The global nanosilica market is evolving, and companies are now focusing more on strengthening and consolidating R&D activities; thereby, increasing the production capacity of nanosilica thus, driving the market growth by catering the need to nanosilica to various end-use industries.

Browse the full “Nanosilica Market Size, Trends and Insights By Product Type (P-type, S-type, Type III), By Application (Concrete, Rubber, Electronics, Healthcare, Paint & Coatings, Agriculture, Plastics, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report here

Regional Snapshots

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is the dominant region in the nanosilica market. This region is also anticipated to maintain its dominance throughout the forecast period. Countries such as China, Japan, India, and others have significant contributions to the growth of the nanosilica market in the region.  Key factors for the growth of building and construction activity, agriculture practices, the paint and coatings industry, and the growing automotive sector has surged the demand for nanosilica.

Rising Demand for Nanosilica in U.S. Construction Boom

Furthermore, the building & construction, sector is one of the booming sectors in the US.  For instance, according to a report published by the U.S. Census Bureau and the U.S. In June 2022, the Department of Housing and Urban Development reported that privately owned housing units authorized by building permits in May reached a seasonally adjusted annual rate of 1,695,000, which is 0.2% above the May 2021 rate.

Owing to such factors the demand for nanosilica has increased. The nanosilica are used in the building and construction activity for cementitious admixtures in concrete to deploy improved load carrying capacity. Since nano silica is extremely fine, it helps to strengthen the microstructure of the cementitious matrix as a result of its pozzolanic activity.

Construction Demand Boosts Nanosilica Market

Increasing demand from the construction sector acts as one of the key factors responsible for the growth of the global nanosilica market. People prefer nanosilica over conventional coating materials due to its low volatile organic content. The construction industry extensively uses nanosilica, as adding nanoparticles results in stronger, more durable, self-healing, air-purifying, fire-resistant, easy-to-clean, and quickly compacting concrete. For example, an article published by Invest India in July 2022 projects that the construction industry will reach $1.4 trillion by 2025. These factors are expected to drive higher demand for nanosilica in the construction sector.

Restraints

However, stringent government norms and regulation regarding the use nanosilica has hampered the growth of market. In addition, the workers and manufacturers get habitual exposure to nanosilica in the industrial sector which may lead to the risk of developing silicosis disease. The National Institute for Occupational Safety and Health (NIOSH) has set some standards and regulations on the use of nanosilica. This is predicted to hamper the growth of nanosilica market.

Opportunities

Nanosilica usage has increased in the rubber and plastic industry, where it enhances the mechanical strength of vulcanized rubber by acting as a reinforcing agent in manufacturing. In addition, nanosilica enhances the tensile strength of rubber. These factors are expected to boost the overall demand for nanosilica, creating lucrative opportunities for the market in the coming years.

Challenges

Over the forecast period, the rise will change the preference of manufacturers. In addition, the lack of awareness about the benefits of nanosilica may hinder market growth. Rising prices of raw materials of nanosilica have hampered the growth of the market thus, the manufacturer is switching their preferences to alternative substitutes. These all factors act as a challenging factors for the growth of market during the forecast period.

Report Highlights

On the basis of product type, the segment includes P-type, S-type, and Type III. The P-type segment dominated the market in 2021 and is expected to continue growing during the forecast period. This type of nanosilica provides excellent admixture properties, improving engineering performance, which drives its widespread use in the construction industry for concrete formulation. Additionally, the demand for P-type nanosilica has increased in the rubber, residential, building, and construction sectors due to its large surface area and porosity. These factors are escalating the demand for nanosilica during the forecast period.

Prominent Players

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, Bee Chems. AG, Normet, Nanosil (Asia Pacific) SdnBhd, US Research Nanomaterials, Inc, and Others

About Us

Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.

Custom Market Insights provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.

Contact

USA Corporate Office

CMI Consulting LLC