Silica Gel Market 2022 -Evonik Industries (Germany), Clariant (Switzerland), Solvay (Belgium), Merck Group (Germany)

 

Silica Gel Market Analysis

Silica Gel Market is projected to be worth USD 781.9 Million by 2030, registering a CAGR of 3.3% during the forecast period (2020–2030).Silica gel, simply put, is a nebulous type of silicone dioxide that is produced synthetically in the form of firm uneven granules having hard regular beads or appearance of crystals. It is a popular absorbent and desiccant for several consumer and industrial applications. Some of its top end use industries include cosmetic and healthcare, petrochemical, pharmaceutical, oil and gas, and others.

Numerous factors are adding to the Silica Gel Market demand. Such factors, as revealed by the latest MRFR report, include growing demand from the packaging industry for its non-toxic nature and chemical stability and burgeoning demand from different end use industries such as petrochemical, oil and gas, and pharmaceutical.

On the contrary, the accessibility of alternatives such as activated clay and activated charcoal may limit the silica gel market growth over the forecast period.

Market Segmentation

The Market Research Future Report provides an inclusive segmental analysis of the silica gel market based on end use, application, and type.

By type, the silica gel market is segmented into type A, B, C, silica-alumina gel, and others.

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By application, the silica gel market is segmented into water filtration, food additives, chromatography, desiccant, and others. Of these, the desiccant segment will have a major share in the market over the forecast period.

By end use industry, the silica gel market is segmented into cosmetic and healthcare, petrochemical, pharmaceutical, oil and gas, and others.

Regional Analysis

By region, the global silica gel market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, North America is predicted to spearhead the market over the forecast period. Factors adding to the silica gel market growth in the region include the burgeoning demand in the packaging of pharmaceuticals owing to its good absorption qualities, the shale gas boom that has propelled the demand for silica gel in the oil & gas and petrochemical industries for its usage as a catalyst in petrochemicals and also its use in processing & refining of natural gas.

The global silica gel market in Europe is predicted to hold the second-largest share over the forecast period for the growing cosmetic & personal care industry. Silica gel is widely used as scrub additives in personal care products and in cosmetics for its smooth texturing properties.

The global silica gel market in the APAC region is predicted to grow at a high CAGR during the forecast period for the increasing investments in end user industries, burgeoning demand from the packaging industry, and increasing demand for food & beverage and electronics due to increasing personal disposable income. China, Japan, and India are the key contributors in the region.

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The global silica gel market in the MEA is predicted to have significant growth over the forecast period for its increasing use in petrochemical and oil & gas industries, and favorable government regulation that is encouraging oil and gas industries. Silica gel is widely used to remove water molecules and hydrocarbons from natural gas & other petroleum gases and impurities from crude oil.

Key Players

Leading players profiled in the silica gel market report include Millennium Chemicals (U.S.), Qingdao Haiyang Chemical (China), DowDuPont (U.S.), Nissan Chemical Industries (Japan), Fuji Silysia Chemical (China), China National Bluestar Company Limited (China), Merck Group (Germany), Solvay (Belgium), Clariant (Switzerland), and Evonik Industries (Germany). Industry players have incorporated strategies such as acquisitions, mergers, partnerships, new product launches & development, and extensive R&D to create a niche in the market.

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