Research Nester has released a report titled “Asia Pacific Colloidal Silica Market – Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Colloidal silica is composed of spherical and fine amorphous silica particles. It is a suspension mixture that is mainly non-porous and found in the liquid state. The size of the particles ranges from 1 to 100 nm. This mixture is also highly hydrophilic in nature and is used across a wide range of industries which include textiles, automotive, and electronics.
The colloidal silica market is segmented into product, application, and end-use industry. The product segment can further be divided into alkaline, acidic, modified, and ordinary colloidal silica. Among these, the alkaline colloidal silica segment, owing to its diverse range of applications in metallographic polishing, semiconductor wafers, and fine polishing of silicon wafers, held the largest market share of 43.54% in the year 2019.
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In the Asia Pacific region, the colloidal silica market recorded a market value of USD 333 million in 2019. This market is expected to witness a CAGR growth of 6.5% during the forecast period 2021-2027. This is owing to the increasing demand for colloidal silica in various industries like construction, electronics, and others.
The Asia Pacific colloidal silica market is also driven by the presence of various end-user industries including automotive, electronics, food & beverage among others. The region also witnessed significant contribution from countries such as China, India, Japan, Australia and others. The pharmaceutical sector is another major industry which propels the demand for colloidal silica.
Owing to a strong demand for colloidal silica especially by the consumer electronics industry, China recorded a market size of USD 165.3 million in 2020. The increasing urbanization along with the increasing use of electronic products has boosted the use of colloidal silica in China. Additionally, another factor that has led to the increased use of colloidal silica in China is the steady economic growth along with the rising personal disposable income of its citizens. In 2020, Japan and India also were major contributors to the market, recording a market size of USD 32 million and USD 20.4 million respectively.
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Rising Demand for Colloidal Silica From End-Use Industries To Boost Colloidal Silica Market
Colloidal silica finds applications in various end-use industries owing to its strength and durability. This is useful especially in the construction sector for cementing operations and ground consolidation. Furthermore, there is a rising demand for use of colloidal silica in the paints & coatings sector also. The automotive and consumer electronic sectors are also avenues where colloidal silica finds applications. These sectors are recording growth especially in the Asia Pacific region thus boosting the colloidal silica market during the forecast period.
However, the dispersed availability of raw materials which are required to manufacture colloidal silica is expected to act as a major restraint for the growth of the colloidal silica market.
This report also provides the existing competitive scenario of some of the key players of the colloidal silica, which includes company profiling of Nissan Chemical Corporation (TYO: 4021), FUSO CHEMICAL CO., LTD. (TYO: 4368), Bee Chems, YOUNG IL CHEMICAL CO., LTD., Zhejiang Yuda Chemical Co.,Ltd., Jinan Yinfeng Silicon Products Co., Ltd., Guangdong Well-Silicasol Co., Ltd., DKIC and Sahajanand Industries.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Asia Pacific Colloidal Silica Market – Demand Analysis & Opportunity Outlook 2027”, analyses the overall APAC colloidal silica industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the APAC colloidal silica market in the near future.
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