Nanosilica Market overview:
In a recent research report by Reports Insight Consulting Pvt. Ltd, the Nanosilica Market is expected to surpass USD 5.72 Billion by the year 2028, from USD 3.59 Billion in 2021.
Nanosilica is a white fluffy powder made up of high purity amorphous silica powder. It is widely used in a variety of applications including rubber, healthcare and medicine, food, plastics, concrete, electronics, cosmetics, agriculture, gypsum, batteries, and others. The use in rubber and concrete applications is propelling the market’s growth over the forecast period. Rising interest in nanosilica market intermediary products is also expected to drive market growth during the forecast period.
The application segment is divided into concrete, rubber, electronics, healthcare, coatings, agriculture, plastics, and others. The rubber segment held a significant share of the nanosilica market. The compound silicon, also known as silicon dioxide nanoparticles or silica nanoparticles, is the second most abundant element in the earth’s crust. The increasing use of nanosilica as an additive in various types of rubbers is driving the market growth.
Asia-Pacific held the largest market share of the global nanosilica market. This is due to the presence of countries in the region such as India, China, and Japan. These countries are experiencing rapid economic growth and increased industrial activity in a variety of application sectors, including rubber, concrete, coatings, and agriculture. The region has many rubber companies, resulting in increased supply from these countries. North America held the second-largest market share. This is primarily due to the region’s presence of various end-use industries. North America is home to some of the world’s largest cosmetics companies, many of which use Nanosilica in their products. This increases the demand for the product from the region.
The market is projected to grow at a significant pace reaching a CAGR of approximately 6.25%, over the forecast period of 2022–2028, despite a considerable fall in product sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.
The study is consolidated into major segments and further into sub-segments, such as by Product Type (P-type, S-type, and Type lll), Application (Concrete, Rubber, Electronics, Healthcare, Coatings, and Others), to forecast the market size by value; also includes the analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.
Lastly, the report includes a regional analysis and country analysis with the latest trends, along with the major key players including Anten Chemical, Bee Chems, Dow Corning Corporation, Nanowerk, Normet, Ref Steel Solution, SkySpring Nanomaterials, Inc., US Research Nanomaterials, Inc., Vitro Minerals Inc., Xinglu Chemical