Published Date: 2021-04-29
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APAC Fumed Silica Market size is expected to cross USD 1 billion by 2027, according to a latest forecast report by Graphical Research. The promising growth trend of the pharmaceutical industry, increasing spending on personal products, and the rising construction activities in the region will fuel future market growth.
Fumed silica is used as a key ingredient to improve the pharmaceutical production processes. The Asia Pacific pharma sector has been witnessing tremendous growth owing to factors, such as increasing population, per capita growing healthcare expenditure, technological progressions, and strong research & development activities. Followed by the U.S., China was the second-largest market for pharmaceuticals between 2015 and 2017. According to the Association of British Pharmaceutical Industry (ABPI), the China pharmaceutical market crossed an estimated value of USD 122 billion in 2017 compared to USD 117 billion in 2015.
The unhealthy lifestyle, health negligence, and improper eating habits of people are contributing to a rising number of ill people. The reliance on pharmaceutical drugs is growing day by day, generating a huge demand for various drugs and tablets. Therefore, the increasing production of pharmaceutical drugs coupled with the introduction of novel technologies will stimulate the market expansion.
On the other hand, high product prices and available product substitutes are expected to create restraints to the industry growth. Besides, the outbreak of COVID-19 has been a major disruptor to the Asia Pacific fumed silica market supply chain. It has negatively impacted the product demand due to factors, such as reduced consumer spending, raw material unavailability, and ceased manufacturing operations, among others. However, China, the largest raw material supplier in the region, has entered into a recovery phase and is likely to support the growth of other economies in Asia Pacific.
Browse detailed statistical insights from the report, “Asia Pacific Fumed Silica Market By Product (Hydrophobic, Hydrophilic), Application (Silicone Elastomer, Pharmaceutical, Beauty & Personal Care, Paints, Coatings & Inks, UPR, Food & Beverages, Adhesives & Sealants), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1772/asia-pacific-fumed-silica-market
Based on the product, hydrophobic fumed silica is estimated to expand at over 6.5% CAGR between 2021 and 2027. Hydrophobic is a treated grade of fumed silica and is recognized by low excellent rhetorical and moisture absorption properties. The inclusion of hydrophobic fumed silica into end-products provides several benefits including abrasion & scratch resistance, reduced moisture absorption, sag resistance, anti-settling, anti-caking, corrosion resistance, free-flow, and thickening characteristics.
Based on application, the pharmaceutical, beauty & personal care segment accounted for over 30% of the industry share in 2020. In the past years, fumed silica has witnessed robust demand from the pharmaceutical sector for drug development techniques. The product acts as a key ingredient for the drug production processes and is used as a filler, glidant, binder, and disintegrant to produce tablets, capsules, or powder. Moreover, the increasing demand for fumed silica for cosmetics applications is further bolstering product consumption.
Key manufacturers of the product operating in the Asia Pacific region include Evonik Industries, Wacker Chemie AG, Cabot Corporation, Kemitura A/S, Orisil Ltd., Tokuyama Corporation, Hubei Xingfa Chemicals Group Co., Ltd., Lawrence Industries, Reade International Corp., and Flexicon Corporation.
The APAC fumed silica market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Asia Pacific Market, By Product
Asia Pacific Market, By Application
The above information has been provided for the following countries:
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