Research Nester published a report titled “Asia Pacific Colloidal Silica Market: Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the Asia Pacific colloidal silica market in terms of market segmentation by product, application, and by end-use industry
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
With particle size ranging from 1 to 100 nm, colloidal silica is a dispersion of silicon dioxide. It finds applications in various industries including electronics, paints, and automotive owing to the fact that the mixture is highly hydrophilic in nature. Colloidal silica is a suspension mixture of amorphous silica particles which are spherical in nature. It is mainly found in liquid phase and is non-porous.
The colloidal silica market can be segmented into product, application, and end-use industry. In the product segment, the market is further divided into alkaline, acidic, modified, and ordinary colloidal silica. Out of these, alkaline colloidal silica held the largest market share of 43.54% in the year 2019. This was owing to its use in metallographic polishing, semiconductor wafers, and fine polishing of silicon wafers.
The colloidal silica market in the Asia Pacific region recorded a market value of USD 333 million in 2019. Over the forecast period, i.e., 2021-2027, this market is expected to grow at a CAGR of 6.5% owing to the rising demand for colloidal silica in various end-user industries along with the construction sector.
Some of the major contributing nations in the Asia Pacific colloidal silica market include China, India, Japan, Australia, and Southeast Asian countries. Its large end-use industries such as automotive, electronics, food & beverage, and others are vital end-use sectors driving the demand for colloidal silica in the region. Another primary industry raising the demand for colloidal silica is the pharmaceutical sector.
China has witnessed a strong demand for colloidal silica, which is attributed to a large consumer electronic industry in the country. The increasing adoption of electronic products coupled with increasing urbanization in the country has resulted in higher colloidal silica consumption. Additionally, the steady economic growth of the country in tandem with the rising personal disposable incomes has also led to the increased usage of these materials. In 2020, China recorded a market size of USD 165.3 million which was the highest in the region. On the other hand, Japan and India recorded a market size of USD 32 million and USD 20.4 million respectively in 2020.
Increasing Adoption of Colloidal Silica in the Construction Sector
Colloidal silica is highly used in construction sector owing to its strength and durability in cementing operations and ground consolidation. The market is estimated to witness a growth owing to the rising demand for paints & coatings in which colloidal silica plays a key role. It is also an important part of the oilfield industry where it is used for advanced cementing and drilling operations. Colloidal silica also finds use in the automotive sector and the consumer electronics sector. These sectors are witnessing a regional growth in the Asia Pacific region thus propelling the colloidal silica market during the forecast period.
However, the scattered availability of raw materials needed to produce colloidal silica is projected to impact the market growth negatively.
This report also provides the existing competitive scenario of some of the key players of the Asia Pacific colloidal silica market, 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 encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Asia Pacific colloidal silica market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.