|Fastest Growing Market:||Asia-Pacific|
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The Global Silica Gel Market is projected to register a CAGR of almost 5% during the forecast period (2022-2027).
The COVID-19 pandemic had affected the silica gel market in various ways such as production halt, piling of stocks, blockage in the supply chain, and others. However, the situation has again returned to normal, and the market is recovering its losses and will be restored.
- Over the short term, increasing demand for silica gel in the electronic and food & beverages industry is expected to drive the market.
- On the flip side, the availability of cheap substitutes like activated alumina, activated clay, and activated charcoal is hindering the market's growth.
- Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
Scope of the Report
Silica gel is a highly porous, non - crystalline form of silica that is used to absorb moisture from gases and liquids, thicken liquids, and give paints and synthetic films a dull finish, among other things. It is generally prepared by acidification of a solution of a silicate, such as water glass. Due to its ability to absorb moisture and extend product shelf life, silica gel packets are widely employed in a variety of commercial sectors. The silica gel market is segmented by type, end-user industry, and geography. By Type, the market is segmented into indicating silica gel and non- indicating silica gel. By end-user industry, the market is segmented into pharmaceutical, paints and coating, petrochemical, food and beverages, personal care, plastics, and other end-user industries. The report also covers the market size and forecasts for the silica gel market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilo tons).
|Indicating Silica Gel|
|Non - Indicating Silica Gel|
|Paint and Coating Industry|
|Food and Beverages Industry|
|Personal Care Industry|
|Other End-user Industries|
Key Market Trends
Increasing Usage in the Pharmaceutical Industry
- Silica gel is frequently used in pharmaceutical packaging to keep medicines safe from moisture and other impurities. In the pharmaceutical sector, silica gel column chromatography is used to collect or separate various components of a drug.
- The rising pharmaceutical industry has increased drug production, which has boosted the silica gel market since they are employed in the pharmaceutical sector as colorants, glidants, lubricants, viscosity agents, solvents, preservatives, and many other things.
- In 2021, global pharmaceutical sales increased by 7.7%. From 2020 through 2025, global healthcare spending is expected to grow at a 4.8% yearly rate.
- The total amount of medicines consumed globally is increasing at a 3% annual rate, with global drug spending reaching approximately USD 1.5 trillion in 2021. The increase in the production of medicines is fueling the demand for the silica gel market, as they are exclusively used for preservation and packaging for keeping the products moisture-free.
- Owing to all these factors, the market for silica gel is likely to grow globally during the forecast period.
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Asia Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China and India are among the fastest emerging economies in the world.
- According to the National Bureau of Statistics, in 2021, the value-added in the pharmaceutical industry of China increased by 24.8% over the previous year.
- Furthermore, according to IBEF, in 2021, the pharmaceutical industry of India is expected to be worth USD 42 billion, rising to USD 65 billion by 2024 and to more than USD 120 billion by 2030.
- China is also leading in the personal care industry and silica gel is used in personal care products as a scrub additive. For the year 2021, the Chinese personal care market revenue stood at around USD 24.603 billion. The revenue grew around 5% compared to USD 23.335 billion in the year 2020.
- Many foods and supplements contain silica gel to prevent clumping, allowing for easier packaging, shipping, flow-ability, and eventual consumption. India’s food processing sector stood at USD 393.41 million in 2020-21, which may touch USD 470 billion by 2025. Moreover, the total agricultural and allied products exports stood at USD 41.25 billion in FY21.
- Due to all such factors, the market for silica gel in the region is expected to have a steady growth during the forecast period.
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The silica gel market is fragmented in nature. Some of the major players in the market include (not in a particular manner) Evonik, BASF, Clariant, Solvay, and W.R. Grace among others.
- In May 2021, W. R. Grace & Co. announced the completion of a manufacturing plant expansion in Kuantan, Malaysia. Through this expansion, the company is expected to respond to the increased demand for its silica gel products.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increasing demand for silica gel for use in electronic device packaging
4.1.2 Increasing demand for food and beverages industry
4.2.1 Availability of Cheap Substitutes
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1.1 Indicating Silica Gel
5.1.2 Non - Indicating Silica Gel
5.2 End-user Industry
5.2.1 Pharmaceutical Industry
5.2.2 Paint and Coating Industry
5.2.3 Food and Beverages Industry
5.2.4 Personal Care Industry
5.2.5 Plastic Industry
5.2.6 Other End-user Industries
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.2 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.4 South America
18.104.22.168 Rest of South America
5.3.5 Middle East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) **/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 AGC Chemicals Americas
6.4.5 Dessicare, Inc.
6.4.7 Fuji Silysia Chemical
6.4.9 Multisorb Technologies
6.4.10 Nissan Chemical Corporation
6.4.13 Sorbead India
6.4.14 Thermo Fischer Scientific
6.4.15 W.R Grace
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Usage of Silica Gel in Thermal Insulator
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Frequently Asked Questions
What is the study period of this market?
The Silica Gel Market market is studied from 2017 - 2027.
What is the growth rate of Silica Gel Market?
The Silica Gel Market is growing at a CAGR of <5% over the next 5 years.
Which region has highest growth rate in Silica Gel Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Silica Gel Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in Silica Gel Market?
Evonik , BASF, Solvay, W.R. Grace , Clariant are the major companies operating in Silica Gel Market.