NanoSilica Market is expected to reach 5.14 billion USD by 2025
NEW YORK, May 22, 2017 /PRNewswire/ --
Highlights
- The global nanosilica market is expected to reach USD 5.14 billion by 2025, according to a new report by Grand View Research, Inc.
- Increasing demand for nanosilica in various application industries has been a major factor driving market growth. Rubber industry emerged as the largest application segment for the demand of nanosilica supported by substantial growth from the automotive industry.
- Nanosilica is widely used in applications such as rubber, healthcare & medicine, coatings, agriculture and others.
- P-type nanosilica was estimated as the largest product segment in 2015 and is expected to continue the trend over the forecast period.
- The global nanosilica demand was 3,348.3 kilo tons in 2015 and is expected to grow at a CAGR of 5.0% from 2016 to 2025.
- The U.S. nanosilica market in coating industry was 85.4 kilo tons in 2015 and is projected to reach a total volume of over 150.7 kilo tons by 2025.
The global nanosilica market is expected to reach USD 5.14 billion by 2025, according to a new report by Grand View Research, Inc.
Increasing demand for nanosilica in various application industries has been a major factor driving market growth. Rubber industry emerged as the largest application segment for the demand of nanosilica supported by substantial growth from the automotive industry. Growing environmental concerns for biobased products and degradability is the key factor responsible for the growth of the market. Renewable feedstock has provided the manufacturers with cost reduction opportunities and improved penetration in heavily regulated market such as Europe and North America. Nanosilica is widely used in applications such as rubber, healthcare & medicine, coatings, agriculture and others. P-type nanosilica was estimated as the largest product segment in 2015 and is expected to continue the trend over the forecast period. The P-type product is extensively utilized by various application segments consumed with the volume share of 47.2% in 2015.
Coating application segment is projected to register the fastest growth in terms of volume with an estimated CAGR of 6.8% over the forecast period. Nanosilica is widely used in the super hydrophobic coating which helps to create a high water contact angle and low sliding angle which attribute to the superhydrophobicity in the coating formulations. Furthermore, rubber application segment accounted for the largest market in terms of volume owing to growing automotive industry and increasing usage of other rubber products in various applications.
Further key findings from the report suggest:
The global nanosilica demand was 3,348.3 kilo tons in 2015 and is expected to grow at a CAGR of 5.0% from 2016 to 2025
P-type nanosilica was estimated as the largest product segment in 2015 and is projected to account for USD 2.55 billion by 2025
Global nanosilica demand in rubber industry was USD 810.4 million in 2015 and is anticipated to witness substantial growth over the next nine years
The U.S. nanosilica market in coating industry was 85.4 kilo tons in 2015 and is projected to reach a total volume of over 150.7 kilo tons by 2025
The industry in Asia Pacific is projected to witness substantial growth over the next nine owing to various industrial developments across major economies, especially in the China, and India. The regional market in terms of revenue is expected to grow at a CAGR of 8.5% from 2016 to 2025
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