SILICON DIOXIDE MARKET: OVERVIEW
The Global Silicon Dioxide Market Size, was valued at USD 10.40 Billion in 2021. The market is projected to grow USD 16.11 Billion in 2030, at a CAGR of 6.60%. The earth's natural crust is covered in a chemical substance called silicon dioxide, also known as silica and created when silica and oxygen mix. There is silicon dioxide that is both natural and man-made. Due to its ubiquitous nature, silicon dioxide can commonly be found in both crystalline and amorphous forms. Sandstone and granite both frequently include quartz, the most common crystalline form of silicon dioxide. Amorphous silica nanoparticles are the most popular type used for industrial purposes and are widely used across several industries due to their unusual physiochemical features. Silicon dioxide is widely used in many different industries, including the culinary, chemical, and pharmaceutical sectors, among others. It also serves as the main oxide component in the manufacture of glass and ceramics.
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Although the virus is fairly contagious, scientists and medical experts are unable to predict who will get it and who will recover from it. Governments from all across the world came to the conclusion that COVID-19 was a dangerous virus that needed to be controlled. As a result, they instituted lockdowns and quarantines. They were just temporary since they weren't very effective. Regardless, firms across a wide range of industries suffered as a result of having to temporarily cease or significantly cut production.
The sector for silicon dioxide was typical. Many enterprises were forced to temporarily halt operations or severely cut output due to the shrinking demand for the gadgets that now use silicon dioxide.
SILICON DIOXIDE MARKET: TREND
Growing Use of Silicon Dioxide in Optical Fibers Drives Market Growth
Due to the amount of natural silicon dioxide accessible, it is projected that the silicon dioxide market would grow in the upcoming years. The electrical industry's rising need for silicon wafers and the construction industry's rising demand for silicon dioxide applications have both led to an expansion of the silicon dioxide market. The availability of replacements restricts the growth of the silicon dioxide market. On the other hand, it is anticipated that the usage of silicon dioxide in optical fibers would offer prospective opportunities for the silicon dioxide market throughout the forecast period.
SILICON DIOXIDE MARKET: DRIVERS
Growing End-Use Industry Demand Fuels Market Expansion
Rising demand for low-density materials with insulating properties from end-use industries like aerospace, oil & gas, chemical, and automotive will propel the market. In order to collect alien particles and trap any onboard dust particles, NASA preferred to use it in the Stardust Spacecraft. As silica aerogel is utilized more frequently in imaging devices, light guides, and optical devices, the market will grow.
Global Silicon Dioxide Market Report Coverage
|Market Size in 2021:||USD 10.40 Billion|
|Forecast Period 2021-2030 CAGR:||6.60%|
|2030 Value Projection:||USD 16.11 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||230|
|Tables, Charts & Figures:||107|
|Segments covered:||By Form, By Application, By End- Use Industry, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Merck KGaA, Alufluor AB, Gelest, Inc., GOLOVACH QUARTZ, Evonik Industries AG, Tosoh Silica Corporation, Kurt J. Lesker Company, Sinosi Group Corporation, Cabot Corporation, Wacker Chemie AG, PPG Industries, Inc., Others|
|Growth Drivers:||1) Growing Use of Silicon Dioxide in Optical Fibers Drives Market Growth 2) Growing End-Use Industry Demand Fuels Market Expansion|
|Pitfalls & Challenges:||Irreversible Health Risks Impede Market Expansion|
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SILICON DIOXIDE MARKET: RESTRAIN
Irreversible Health Risks Impede Market Expansion
Silicon dioxide has also been linked to occupational dangers. Direct contact with silicon dioxide can lead to silicosis, a lung disease caused by continuous, excessive inhalation of crystalline silica particles. As a result, this has an effect on the market growth of crystalline silicon dioxide, particularly in the exposed glass production and mining industries.
The Global Silicon Dioxide Market is segmented by Form, Application, End-Use Industry, and Region. Based on the Form, the market is categorized into Amorphous, Quartz, Crystalline, Cristobalite, and Tridymite. Based on Application, the market is categorized into Adhesives and Sealants, Food Additives, Composites, Coatings, Greases, Printing & Packaging. Based on End-Use Industry, the market is categorized into Electrical, Food and Beverage, Chemical, Pharmaceuticals, and Others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
MARKET SEGMENTATION: BY REGION
The Global Silicon Dioxide Market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
The Asia Pacific is anticipated to have the largest market share of the worldwide market for silicon dioxide due to the increased demand from a number of end-use industries, including oil & gas, automotive, and construction. Additionally, the demand for silica aerogel has greatly increased due to the expanding need for oil and gas in countries like China and India. It is projected that North America would have the second-largest share due to the considerable demand from the aerospace and oil & gas industries. The automobile industry's demand is expected to drive significant expansion in Europe. The Middle East and Africa are expected to grow significantly as a result of increased gas and oil development. By the end of the forecast time, Latin America is expected to have modest growth.
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SILICON DIOXIDE MARKET: KEY PLAYERS
- Merck KGaA
- Alufluor AB
- Gelest, Inc.
- GOLOVACH QUARTZ
- Evonik Industries AG
- Tosoh Silica Corporation
- Kurt J. Lesker Company®
- Sinosi Group Corporation
- Cabot Corporation
- Wacker Chemie AG
- PPG Industries, Inc.
SILICON DIOXIDE MARKET: RECENT DEVELOPMENT
- In October 2021, the resource at the Cape Flattery silica sand project owned by Metallica Minerals in Far North Queensland, Australia, was enhanced to 53.5 million tons with an in-situ silicon dioxide quality of 99.19 percent. Using assay results from the drilling program in August, industrial mineral specialists at Ausrocks predicted that the resource would increase by 40%.
- In September 2021, the Gernsheim factory of the German multinational science and technology business Merck started up a new production line for effect pigments made of silica. It is the company's largest pigment production facility worldwide, employing roughly 750 people.
SILICON DIOXIDE MARKET: REPORT OVERVIEW
The scope of the report includes a detailed study of regional markets for Global Silicon Dioxide Market. The Global Silicon Dioxide Market is segmented by Form, Application, End-Use Industry, and Region. It reveals the market situation and future forecast. The study also covers the significant data presented with the help of graphs and tables. The report covers information regarding the competitive outlook including the market share and company profiles of the key participants operating in the Global Silicon Dioxide Market.
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