[FURL=https://www.industryarc.com/Research/NanoSilica-Market-Research-503449?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]NanoSilica Market[/FURL] size is forecast to reach $5.8 billion by 2026, after growing at a CAGR of 7.8% during 2021-2026. Nano Silica are generally in the form of a white powder. However, with the rise in consumption of cement or concrete in building and construction sector, the silica nanoparticles industry is witnessing an increase in demand. Whereas on the other hand, the growing public interest towards residential homes and apartments will further enhance the overall market demand for nanosilica industry during the forecast period.Key Takeaways
Asia-Pacific dominates the nanosilica market owing to increasing demand from application such as adhesives & sealants, catalysis and others.
The growing popularity nanosilica as strengthening, vitrification and binding agent for both ceramic & enamel and glaze, is likely to aid in the market growth of nanosilica.
Whereas the growing demand for rubber in light of the automotive industry will increase the market demand for nanosilica in the near future, as nanosilica were used in the natural rubber to enhance its properties.
The high cost of equipment and technology of producing nano silica would create hurdles for the new players to get in the business and hence hamper the market growth.
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NanoSilica Market Segment Analysis – By Geography
APAC dominated the nanosilica market in the year 2020 and is expected to grow at a CAGR of 8% during the forecast period. Major countries in this region are India and China, owing to the increasing demand for rubber in the automotive industry. The growing manufacturing of automotive will eventually drive the demand for nanosilica. According to the OICA’s (International Organization of Motor Vehicle) production statistics 2019, China is the largest automotive producer in the world. Whereas India is the 5th largest producer of automotive in the world. Nanosilica is used in rubber, to improve the mechanical properties of rubber such as anti-friction, anti-ageing, durability, and toughness. Hence used during the manufacturing of automotive. Thus, with the growing demand in the automotive industry, the nanosilica market is expected to grow.
NanoSilica Market Drivers
Growing Demand for Battery Electric Vehicles
Governments Initiatives Regarding Construction/ Infrastructure
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Nanosilica market. Major players in the Nanosilica Market are Akzonobel N V, Bee Chems, Cabot Corporation, Dow Corning Corporation, E. I. Du Pont De Nemours And Company, Evonik Industry, Fuso Chemical Co Ltd, Nanopore Incorporated, Nanostructured Amorphous Materials, Inc, Wacker Chemie Ag, among others.
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