NEW YORK, Feb. 28, 2017 /PRNewswire/ -- The global pharmaceutical grade silica gel market is projected to reach a market size of USD 71.05 million by 2025, according to a new report by Grand View Research, Inc. The pharmaceutical grade silica gel market is expected to witness significant growth over the forecast period owing to the increasing demand for excipients.
Pharmaceutical grade silica gel is used in a various applications including desiccant, drug carrier, adsorbent, glidant, and other excipients. Excipients can be used in numerous forms in food, cosmetics, and medicine industries. They act as colorants, lubricants & glidants, binders, disintegrants, flavoring agents, capsules, solvents, coatings, preservatives, fillers & diluents, suspension and viscosity agents. Excipients are also manufactured for their consumption in the cosmetics & personal care and food industry, along with pharmaceutical industry.
Growing pharmaceutical industry has propelled the growth of drug production, which in turn, has increased the excipient consumption over the past few years. This is expected to be a major factor fueling the demand for pharmaceutical grade silica gel. Desiccant dominated the market for pharmaceutical grade silica gel globally. The other key applications include drug carrier, adsorbent, and glidants.
Further key findings from the report suggest
Globally, adsorbent and glidant application segments are projected to witness significant volume growth over the forecast period, growing at CAGR of over 4% during the forecast period. This growth can be attributed to rapid growth from the overall pharmaceutical industry.
Asia Pacific dominated the global pharmaceutical grade silica gel market in 2015 with an estimated revenue of around USD 17.10 million and is projected to grow significantly over the coming years owing to the increasing investments from the pharma sector. Emerging economies such as China and India are the key growth drivers in the region. Drug carriers widely used in the drug delivery process owing to its special features such as effective drug administration, selectivity and safety.
Key participants in the pharmaceutical grade silica gel market include:
Clariant AG, E. I. du Pont de Nemours and Company, Evonik Industries, Solvay SA, and W.R. Grace and Company, Dow Chemical Company and J.M. Huber Corporation among others. In recent years, new product developments have been the major growth strategy adopted by key market players for strengthening their market positions.
Read the full report: http://www.reportlinker.com/p04717527-summary/view-report.html
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