Sales in the global Colloidal Silica Market are slated to top USD 252.0 Million in 2022. With a favourable demand outlook, the market is projected to expand at a steady 3.9% CAGR, reaching USD 342.3 Million by 2030.
| Attribute | Details |
|---|---|
| Colloidal Silica Market Estimated Size 2022 | USD 252.0 million |
| Colloidal Silica Market Value-based CAGR (2022 to 2030) | ~ 3.9% |
| Colloidal Silica Market Size in Projected 2030 | USD 342.3 million |
Rising adoption of colloidal silica solutions in Chemical Mechanical Planarization (CMP) slurries that are utilized in the electronics and semiconductor industry as polishing agents, is propelling the sales in the market.
These fine particles are also used in a wide range of other industries, such as catalyst carriers, textile, foundry, papermaking, coatings, ceramics, and refractory.
Colloidal silica liquid has several beneficial properties, such as favorable permeability and large surface size. Owing to these features, it is extensively used in the aforementioned industries. In the personal care industry, it is utilized as a rheological additive for regulating the flowability.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.1% |
| H1,2022 Projected (P) | 3.8% |
| H1,2022 Outlook (O) | 3.7% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 10 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 40 ↓ |
A half-yearly comparison of the growth forecast for the market of colloidal silica has been presented by Future Market Insights along with recent market developments.
The market growth projections are predominantly influenced by certain industry and innovation factors including chemical industry growth, advancements in manufacturing process, adaptation of technology in manufacturing sectors and commercialization of nanotechnology.
Increasing acceptance of colloidal silica solutions in chemical mechanical flattening (CMP) slurries used as abrasives in the electronics and semiconductor industries is driving market sales.
These particles are also used in a variety of other industries, including catalyst carriers, fibers, castings, papermaking, coatings, ceramics, and factories.
The global demand for colloidal silica is estimated to witness a growth rate of 3.7% over the first half of 2022. Increased R & D activity by market players to develop state-of-the-art colloidal silica filler products with adjustable chemical and physical properties is expected to be a good precursor to the market.
Increasing adoption of electronic products will lead to high demand for colloidal silica worldwide.
Despite the significant growth of the market, there are some obstacles to overcome, including logistics issues, supply chain interference, government regulations and obligations, export restrictions, border issues affecting commodity prices and supplies, etc. are to some extent expected given market growth.
The colloidal silica market is expected to register a 3.9% CAGR between 2022 and 2030, and the same CAGR was recorded during 2015-2021, as per Future Market Insights (FMI).
Rising number of research and development activities by market players to devise cutting-edge colloidal silica filler products that would have adjustable chemical and physical characteristics is anticipated to bode well for the market. The increasing adoption of electronics products would lead to high demand for colloidal silica worldwide.
According to the Environmental Protection Agency (EPA), an average American household utilizes around 28 electronic products, such as electronic readers, personal computers, televisions, and mobile phones.
The Ministry of Electronics and Information Technology stated that there was a growth of 10.4% in the production of electronics from 2009 to 2010 in India. These numbers are anticipated to grow in the forthcoming years, thereby propelling the demand for colloidal silica fillers.
Colloidal silica solutions are also used in water-based paints and coatings in the form of solvents. These are an ideal solution for usage in numerous applications in dry and wet surroundings. They can lower the burden on the environment and hence, several manufacturers are striving to invest in the paints and coatings to capitalize on the benefits of the product.
Growing usage of hydrophobic colloidal silica in the automotive industry across the globe is projected to bolster the market in the forthcoming years. The chemical is extensively utilized in this industry for the manufacturing of tires with lower resistance to rolling.
The ongoing development of innovative tires with hydrophobic colloidal silica to improve vehicle handling and mileage is expected to propel the market. In January 2022, Nokian Tyres launched the Green Step concept tire. It contains 93% of materials that are either renewable or recycled.
As per the company, 50% of all raw materials utilized in this tire will be recycled by 2030. Thus, the introduction of such green tires in various parts of the world is estimated to augur well for the market.
The usage of colloidal silica liquid as an active chemical ingredient for the development of many pharmaceutical tablets, such as paracetamol and animal pharmaceuticals is considered to be a major factor driving sales.
It can maintain the stability of specialty Active Pharmaceutical Ingredients (API) that are sensitive to moisture.
In the process of tablet making, colloidal silica liquid is increasingly used as an absorbent, anti-caking agent, a disintegrant, and glidant to enable hassle-free flow of the powder amid the process. Many companies are expected to focus on the untapped opportunity by launching novel products for the pharmaceutical industry.
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Presence of Numerous Colloidal Silica Powder Manufacturers to Bolster Growth
The rapid expansion of the electronics and semiconductor industry in China is expected to drive the market over the assessment period. As per FMI, the East Asia colloidal silica market is likely to account for 30.3% of the total market share in 2022.
Prominent colloidal silica powder manufacturers present in China are focusing on increasing their investments in the development of this product as per the requirement of end-use applications. The entry of various Small and Medium Enterprises (SMEs) in the country is a chief factor which is set to propel the market.
Cosmetics Manufacturers are Adopting Hydrophobic Colloidal Silica
The ongoing development of the cosmetics and personal care industry in the UK stoked by the launch of new products with natural ingredients is set to accelerate the sales in the forthcoming years. The Europe colloidal silica market is anticipated to hold approximately 29.1% of the share in 2022, estimates FMI.
Numerous online beauty brands are utilizing Augmented Reality (AR) and Artificial Intelligence (AI) to improve the customer experience and increase their sales in the UK, which is expected to augment the growth in the market.
The trending concept of premiumization of beauty products and increasing focus of manufacturers on the quality of these products are set to boost the usage of hydrophobic colloidal silica in the UK
Usage of Sustainable Colloidal Silica Powder to Augment Growth
Increasing demand for eco-friendly products in the USA is anticipated to drive sales in the market over the assessment period. As per FMI, the North America colloidal silica market is set to account for around 19.6% of the total market share in 2022.
The implementation of stringent norms by the USA government to protect the environment would compel various industries to adopt environmentally friendly colloidal silica powder.
Rapid expansion of the manufacturing industry and the growing awareness among consumers regarding the stability features of the powder are some of the other factors which are anticipated to aid the growth.
Industries are Preferring Acidic Colloidal Silica Solutions Owing to Their Beneficial Properties
Based on product type, the acidic colloidal silica segment is set to account for the largest colloidal silica market share over the assessment period. Growth is attributable to its increasing usage in various end-use applications backed by its excellent stability attribute.
Applications of acidic colloidal silica solutions range from polishing agent in the electronics industry, to usage as an additive for paints, coatings, and varnishes for enhancing abrasion and weather resistance, as well as surface treatment in the paper industry.
The ability of these solutions to deliver a high coefficient of friction which is useful in numerous industries when applied to a surface, is projected to boost sales in the segment.
Electronics and Semiconductor Industry is Preferring Colloidal Silica Fillers
In terms of application, the electronics and semiconductor industry is anticipated to remain at the forefront in the colloidal silica market over the forecast period. The development of new products by key manufacturers, especially in this industry is likely to fuel the segment.
In October 2020, for instance, Nouryon unveiled a new range of Levasil colloidal silica products for the electronics industry. It would provide customers with a novel line of colloidal silica fillers of superior purity to polish, smooth, and shape high-performance substrates, especially silicon wafers that are needed for the production of integrated circuits.
Leading players operating in the colloidal silica market are focusing on the production capacity expansion strategy to provide better service to customers to gain a competitive edge in the market.
Meanwhile, a few other colloidal silica solution manufacturers are engaging in mergers, acquisitions, joint ventures, and partnerships with international and domestic companies to co-develop new products and generate more sales across the globe. For instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2030 |
| Historical Data Available for | 2015 to 2021 |
| Market Analysis | Units for Volume and USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and the Middle East & Africa. |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Germany, the UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others. |
| Key Market Segments Covered | Product Type, Application, and Region |
| Key Companies Profiled | Akzo Nobel N.V (Nouryon Holding BV); Merck KGaA; ADEKA Corporation; Allied High Tech Products, Inc.; Nissan Chemical Corporation; The Dow Chemical Company; Cabot Corporation; Evonik Industries AG; Fuso Chemical Co., Ltd.; W. R. Grace & Co.-Conn; NYACOL Nano Technologies Inc.; REMET, Ecolab Inc.; Chemiewerk Bad Köstritz GmbH; Guangdong Well-Silicasol Co., Ltd.; Qingdao Haiyang Chemical Co., Ltd.; Jinan Yinfeng Silicon Products Co., Ltd.; Sterling Chemicals; Makall Group |
| Pricing | Available upon Request |
The global colloidal silica market is expected to reach a valuation of USD 252.0 Million in 2022.
The global colloidal silica market grew at a healthy 3.9% CAGR between 2015 and 2021.
The high demand for green tires and the rising usage in the pharmaceutical industry are the key trends boosting the sales of colloidal silica.
Akzo Nobel N.V (Nouryon Holding BV), Merck KGaA, ADEKA Corporation, Allied High Tech Products, Inc., Nissan Chemical Corporation, The Dow Chemical Company, Cabot Corporation, and Evonik Industries AG are some of the leading players present in the global colloidal silica market.
The North America colloidal silica market is anticipated to account for 19.6% of the share in 2022.
The Europe colloidal silica market is projected to account for 29.1% of the share in the forecast period.
| Estimated Market Size (2024E) | USD 7,809.7 million |
|---|---|
| Projected Market Value (2034F) | USD 13,214.3 million |
| Value-based CAGR (2024 to 2034) | 5.4% |
| Market Value (2023) | USD 399.3 million |
|---|---|
| Market Value (2033) | USD 669.2 million |
| CAGR (2023 to 2033) | 5.3% CAGR |
| Market Estimated Size (2022) | USD 252.0 million |
|---|---|
| Market Size Projected (2030) | USD 342.3 million |
| Market Value-based CAGR (2022 to 2030) | ~ 3.9% |
| Attribute | Details |
|---|---|
| Projected Sales | USD 7.6 Billion |
| Value-based CAGR | 8.8% |
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Colloidal Silica Market
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