- The ever-evolving construction sector is a key factor driving the global nanosilica market
- Nanosilica is gaining increasing popularity for cementitious admixtures used in concrete enhancement. Due to the extremely fine nature of nanosilica particles, they improve the cementitious microstructure through a pozzolanic activity
ALBANY, N.Y, Nov. 16, 2020 /PRNewswire/ -- Transparency Market Research has now published a new research report that offers a detailed information about the global nanosilica market. The research report tries to offer meaningful and actionable insights about the key segments, prominent growth drivers, restraining factors, geographical outlook, and the current situation of the vendor landscape of the global market.
According the to the research report, the global nanosilica market is projected to reach an overall market valuation of US$55 Bn by the fall of 2030. The growth of the market is expected to be achieved with the help of a strong CAGR of ~7% over the course of the given forecast period ranging from 2020 to 2030.
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Global Nanosilica Market – Overview
- The global nanosilica market is segmented in terms of structure, application, and region.
- In terms of structure, the global market is mainly divided into P-Type nanosilica and S-Type nanosilica.
- Of these, the global market is currently dominated by the P-Type segment on account of growing demand from the concrete industry. Recent surge in the global infrastructural developments activities such as construction of both commercial as well as residential buildings have had a positive impact on the demand for P-type nanosilica.
- Based on application, the global nanosilica market is segmented into cement and concrete, medical, paints & coatings, semiconductor, cosmetics, glass & ceramics, rubber & plastic additives, and others.
- Of the multiple segments, the cement and concrete segment is showing a great growth potential. The paints and coatings segment, followed by rubber & plastic additives, dominated the global market in 2019.
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Global Nanosilica Market – Key Driving Factors
- One of the biggest driving factors for the overall development of the global nanosilica market is its growing use in the construction and coating applications.
- In recent years, there has been a growing demand for nanocoating in medical, automobile, and aviation applications. As such, the growing demand is expected to work in favor of the overall development of the global market.
- The use of nanosilica helps in improving the quality of concrete and coatings because of its small size. The particles enhance the microstructure of the application and maintain industry standards for the end use. Such advantages are key for raising the demand for nanosilica over the course of the given forecast period.
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Global Nanosilica Market – Key Restraining Factors
- The Covid-19 pandemic has had a profound impact on the overall development of the global nanosilica market.
- Due to the government-enforced lockdowns, several manufacturing plants closed for a substantial period of time and had impeded the growth of the global market.
- These lockdowns had a direct impact on the revenue generation activities in the nanosilica market.
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Global Nanosilica Market – Geographical Outlook
- In terms of geographical segmentation, there are five key regions of the global nanosilica market, viz. Asia Pacific, North America, Middle East and Africa, Europe, and Latin America.
- Of these, currently the regional segment of Asia Pacific is leading the global market in terms of volume.
- Growing investments for infrastructural developments by governments in emerging economies such as Thailand, India, and China are proving to be the key driving factor for the growth of the market in the region.
Global Nanosilica Market – Key Players
The global nanosilica market is moderately consolidated, with the presence of a few large-sized manufacturers. Companies operating in the global nanosilica market are investing significantly in research and development activities and advancements in technology. Major players operating in the global nanosilica market include Evonik Industries AG, Wacker Chemie AG, Normet, Nanosil (Asia Pacific) Sdn. Bhd, and US Research Nanomaterials, Inc.
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Global Nanosilica Market: Research Scope
Nanosilica Market, by Structure
Nanosilica Market, by Application
- Cement & Concrete
- Paints & Coatings
- Glass & Ceramics
- Rubber & Plastic Additives
- Others (including Magnetic Materials and Agriculture)
Nanosilica Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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