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Aug 17, 2023

Silica Gel Market to grow by USD 393.3 million from 2022 to 2027

News provided by 30 Aug, 2023, 23:30 ET Share this article NEW YORK, Aug. 30, 2023 /PRNewswire/ -- The silica gel market is set to grow by USD 393.3 million from 2022 to 2027. The market is estimated

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30 Aug, 2023, 23:30 ET

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NEW YORK, Aug. 30, 2023 /PRNewswire/ -- The silica gel market is set to grow by USD 393.3 million from 2022 to 2027. The market is estimated to be progressing at a CAGR of 7.95% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increasing use in the food & beverages industry as food additives. There is an increasing adoption of silica gel as it can enhance the flavor and quality of non-alcoholic drinks, liquors, essential oils, and snacks. Additionally, it is extensively used to increase the smoothness of liquids, for which additives, including precipitated silica gel, are extensively utilized in food and beverage items. The main advantage of silica gel is that it eliminates turbid polymers that cause haziness or cloudiness in liquids, thereby making the drink finer and more transparent. Hence, such factors are expected to drive market growth during the forecast period is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and forecast period (2023-2027). Download Sample Report in minutes!

Silica Gel Market 2023-2027 - Market Dynamics

Significant trends influencing the market growth

The increasing use of alcoholic silica gel is a primary trend in the market during the forecast period. Allochroic silica gel can be referred to as colored silica gel, which, upon the absorption of moisture from the environment, changes its color. The rising use of allochroic silica gel in different industrial applications is an emerging trend in the global silica gel market. Additionally, silica gel is extensively used in transformers as it plays a crucial role in ensuring that product parts remain moisture-free. This silica gel changes color depending on the moisture content. For instance, blue allochroic silica gel, which is widely used in transformers, changes to shallow blue due to the absorption of moisture. Hence, the color change can be used as an indication of the moisture content on a particular part and enable easy preventive maintenance and observation and correction of defects for transformer manufacturers and customers. Hence, such factors are expected to drive market growth during the forecast period.

Major challenges hindering the market growth - The health hazards associated with the use of silica gel are a significant challenge hindering the market growth during the forecast period.

Silica Gel Market 2023-2027: Market Segmentation

This silica gel market report extensively covers market segmentation by application (oil and gas industry, petrochemical, pharmaceutical, consumer goods, and cosmetics and others), product type (indicative silica gel and non-indicative silica gel), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

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Silica Gel Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 7.95%

Market growth 2023-2027

USD 393.3 million

Market structure

Fragmented

YoY growth 2022-2023(%)

7.76

Regional analysis

APAC, North America, Europe, South America, and the Middle East and Africa

Performing market contribution

APAC at 48%

Key countries

US, China, Japan, India, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AGC Inc., BASF SE, Capitol Scientific Inc., Cilicant Pvt. Ltd., Clariant International Ltd., Desiccare Inc., DuPont de Nemours Inc., Ecovyst Inc., Fuji Silysia Chemical Ltd., GeeJay Chemicals Ltd., Hengye Inc., International Silica Gel Co. Ltd., Merck KGaA, Natland International Corp., Nouryon Chemicals Holding BV, OSAKA SODA CO. Ltd., SiliCycle Inc., Sinchem Silica Gel Co. Ltd., Solvay SA, Standard Industries Inc., and Thermo Fisher Scientific Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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