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Fumed Silica Market Insights Focusing on Primary Trends until 2028
The fumed silica market report covers profiles of key participants to cover important aspects of competitive environment in the fumed silica market.

Fact.MR, 2/14/2019 - In order to study the many forthcoming movements and patterns prevailing in the global market, Fact.MR has included the latest Forecast report on fumed silica market to its vast database. The delivered study offers significant figures about the leading regions and applications which are functioning in the fumed silica market forthcoming trends by 2028, along with their market production, consumption, revenue, upcoming industry trends and forecasted market share details. Further, the accomplished market research report also anticipates that the concerned market would grow at a constructive CAGR until 2028.

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Evonik Industries AG, a German manufacturer of fumed silica, accounts for nearly one-third market share. Evonik is investing heavily in expanding its fumed silica capacities worldwide to establish a strong presence in the international markets. Evonik recently announced its plans to expand its fumed silica capacities in Antwerp, Belgium to be in line with its strategy to solidify its position in the European fumed silica market. The company also revealed its plan to expand its hydrophobic fumed silica production in Rheinfelden, Germany by 20% in response to burgeoning demand for specialty silica varieties.

Evonik also announced that it has agreed to form a joint venture with a Chinese chemical company – the Wynca group; the new facility planned in China is projected to manufacture 8,000 metric tons of fumed silica annually.

Other leading manufacturers in the fumed silica market, such as Cabot Corp and Wacker Chemie AG collectively hold over 40% revenue share in the market. Captive consumption of fumed silica is likely to continue complementing the incremental growth of top manufacturers in the fumed silica market.

Fumed Silica Market Remains Highly Consolidated as Tier III Companies Hold Less Than 10% Market Share

Stringent regulatory framework, challenges associated with the availability of raw materials, and cyclic behavior of end-use industries present major barriers to entry for small and medium-scale businesses in the fumed silica market. Tier III manufacturers are facing major challenges at raw material procurement as leading firms are controlling supply chain operations in the fumed silica market.

Furthermore, ensuring product regulatory compliance results in additional manufacturing costs and delayed market entry, which is making it challenging for new entrants in the fumed silica market to maintain competitive prices. In addition, top players in the fumed silica market account for the largest market share through captive consumption of fumed silica. This is making fumed silica market highly concentrated among top market players and Tier III fumed silica companies account for less than 10% revenue share of the market.

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The full-blown trade war between the U.S. and China, the world’s two largest markets for fumed silica, is influencing the prospects of the global market for fumed silica as many industrial applications of fumed silica, including adhesives, bore a significant impact.

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