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).
- The market share growth by the oil and gas industry segment is significant during the forecast period. There is a significant increase in the growth of the oil and gas industry when compared to other industries such as petrochemicals, pharmaceuticals, consumer goods, and others due to the growing demand for silica gel as it is extensively adopted for the removal of hydrocarbons and water molecules from natural gas, carbon dioxide, and other petroleum-related gases. Furthermore, silica gel is extensively used as desiccants and molecular sieves in the oil and gas industry segment. Hence, such factors are expected to fuel the growth of this segment, which in turn will drive the market growth during the forecast period.
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
Companies Mentioned
- 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.
- Thermo Fisher Scientific Inc.
Company Offering
- AGC Inc: The company offers silica gels under the brands Resifa
- BASF SE: The company offers silica gels such as Perlkat 97
- Capitol Scientific Inc: The company offers silica gels under the brand CapitolBrand.
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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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