The global silica gel market to grow at a CAGR of 6.21% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global silica gel market for 2016-2020. To calculate the market size, the report considers the revenue generated through the sales of silica gel to end-use industries such as oil and gas, petrochemical, pharmaceutical, consumer goods, and others. The report also includes a discussion of the key vendors operating in this market.
The increased emphasis on R&D to develop environment-friendly silica gel products, owing to increasing global awareness about environment protection, has resulted in the recent introduction of safer silica gel products in the market. One of the developments has been the introduction of Eco Blue Silica Gel by Nantong OhE Chemicals.
This product does not contain cobalt dichloride or cobalt chloride, the main environment pollutants usually found in allochroic silica gel products, while it still has the same level of efficiency. Cobalt chloride and cobalt dichloride based products cause water pollution and are harmful to aquatic life. With other manufacturers developing and introducing newer products with lower percentages of these chemicals, the development of environment-friendly silica gel products is a positive trend expected in the global silica gel market.
According to the report, growing demand for silica gel in China will be a key driver for market growth. The increase in demand for silica gel in China is one of the key factors contributing to the growth of the global silica gel market. In 2015, China was the leading country in the market, both in terms of production and consumption of silica gel. The country accounted for approximately 30% of global consumption in 2015, and we expect that it will maintain its position until 2020.
It will also experience faster growth than other key markets like Germany and the US during the forecast period, due mostly to the increased use of silica gel in the manufacture of adsorbents and desiccants and in the electronics and packaging sectors. The rise in demand for Chinese silica gel-based cat litter in developed countries is also a key growth factor for this market.
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- W.R. Grace
Other prominent vendors
- Sorbead India
- Fuji Silysia Chemical
For more information about this report visit http://www.researchandmarkets.com/research/qjdpd8/global_silica_gel
Research and Markets
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SOURCE Research and Markets