Fumed Silica Market:
Drivers & Restraints, Segmentation, Key Player, Region Wise Outlook
The major factor driving the global fumed silica market is the exponential growth in application sectors such as paints and coating industry .The global paints and coating market is estimated to grow at CAGR of 5.5% in forecasted period of 2014 to 2020.It is also estimated that the Global paints and Coating industry will be of U.S. $176.5 BN.. The rise in demand of decorative articles, furniture and automotive are also expected to fuel the demand of application sector of fumed silica resulting in positive growth for fumed silica market.
On the other hand one of the major paints and coating industry market Europe was going through economic crisis which is expected to slow down the consumption of paints and coatings in the region. This might be a restraining factor in the Fumed Silica market because of dependency on the application sector. The growing popularity towards ecofriendly paints and stringent government regulation on paint composition might result restrain in the demand of fumed silica application sector such as paints and coatings.
On the basis of type – Hydrophilic fumed silica, Hydrophobic fumed silica
Some of the market participants in the specialty silica market are Evonik Industries AG, Akzo Nobel N.V., SOLVAY, Cabot Corporation, Wacker Chemie AG, Tokuyama Corporation DuPont, Bayer AG, PPG Industries Inc., Ceradyne Incorporated, DA NanoMaterials., Fuji Silysia Chemical Limited, Xinjiang TBEA Silicon Industry Co Ltd, Jilin Shuangji Chemical New Material Co Ltd, Zhejiang Wynca Chemical Industry Group Co Ltd .,Shandong Ruiyang Silicon Industry Technology Co Ltd, and others
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