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The North American fumed silica is expanding due to its versatile applications across automotive, construction, electronics, and healthcare sectors| Fact.MR
ROCKVILLE, MD, UNITED STATES, January 20, 2025 /EINPresswire.com/ -- Sales of fumed silica in North America are expected to grow at a CAGR of 3.6%, from $411.8 million in 2024 to $586.52 million by the end of 2034.
Fumed silica, also known as pyrogenic silica, is a fine powder largely made of amorphous silica. The resulting material is very porous and lightweight, with a huge surface area. Fumed silica's unique qualities make it useful in a variety of sectors.
Fumed silica, a versatile and lightweight substance, is commonly used as a thickening agent, anti-caking agent, and reinforcing filler in a variety of industries. North America's strong industrial and manufacturing ecosystem has established the region as a major player in the worldwide fumed silica marketplace. Analysts predict tremendous growth, fuelled by shifting consumer choices, technological developments, and sustainability measures.
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Key Takeaways from Market Study:
Projected to grow at a CAGR of 3.6% from 2024 to 2034, reaching $586.52 million by 2034.
Major uses include silicone rubber, paints & coatings, adhesives, healthcare, and personal care products.
Hydrophilic fumed silica to grow at 3.4% CAGR, reaching $312.79 million by 2034.
United States: Expected to reach $536.1 million by 2034 with a CAGR of 3.6%.
Canada: Anticipated growth to $48.04 million by 2034 at a CAGR of 3.1%.
Leading Players Driving Innovation in the Fumed Silica Industry Analysis in North America:
BASF SE; Dow Inc.; Achilles Corporation; Berry Global Inc.; Wacker Chemie AG; Evonik Industries
Fumed Silica Industry Analysis in North America News:
July 2022: Wacker Chemie AG plans to build a silicone production unit in Tennessee, United States. This strategic strategy entails increasing manufacturing capacity primarily for pyrogenic silica and other silicon compounds used in building applications. The move represents a considerable increase in Wacker Chemie AG's production capacity in the North American market.
Country-wise Analysis:
The growing use of fumed silica in the United States is primarily driven by the strong demand from the automotive and construction sectors. In 2024, the market value for fumed silica is projected to reach US$ 376.4 million, with a steady growth rate of 3.6% CAGR expected from 2024 to 2034.
By 2034, the market is anticipated to expand to US$ 536.1 million. The automotive industry plays a pivotal role in this growth, as manufacturers increasingly prioritize lightweight materials to improve fuel efficiency. Fumed silica, with its high purity, significantly enhances the performance of rubber components, coatings, and adhesives, leading to a higher adoption rate. Additionally, the booming construction industry, coupled with rising demand for high-performance building materials, further fuels the growth in fumed silica sales across the country.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the Fumed Silica Industry Analysis in North America, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis product type, application, and country. In terms of product, fumed silica is primarily divided into hydrophilic and hydrophobic types, each offering unique properties for different industrial uses. The market's applications are diverse, with significant demand in silicone rubber, paints and coatings, unsaturated polyester resins, adhesives and sealants, as well as healthcare and personal care products.
Additionally, fumed silica is utilized in various other sectors, contributing to its broad market reach. Geographically, the United States and Canada are the key players, with the U.S. dominating the market due to its large automotive, construction, and industrial sectors. Both countries are experiencing robust growth in fumed silica demand, driven by advancements in manufacturing and technological developments across various industries.
Check out More Related Studies Published by Fact.MR:
As per this latest industry analysis by Fact.MR, the global fused silica market size is approximated at a value of US$ 2.24 billion in 2024 and is forecasted to reach US$ 3.83 billion by 2034. Worldwide sales of fused silica are projected to increase at a CAGR of 5.5% from 2024 to 2034.
The global colloidal silica market has reached a valuation of US$ 1.01 billion in 2023 and is forecasted to climb to US$ 1.56 billion by the end of 2033 with global demand for colloidal silica set to rise at 4.1% CAGR between 2023 and 2033.
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Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.
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