Chromium Carbide Market Size, Drivers Analysis, Trends, Insights, Forecast till 2033

 As of 2023, the colloidal silica market worldwide is worth US$ 1.01 billion and is expected to grow to US$ 1.56 billion by 2033. According to this research report by Fact.MR, a competitive intelligence and market research firm, colloidal silica firms are expected to look towards Europe and East Asia in order to generate the highest revenue in the future.

Growing colloidal silica applications in a multitude of uses across various distinct industry segments is the major opportunity propelling colloidal silica demand growth worldwide. For example, colloidal silica is utilized in the production of automobile tires and chemical mechanical planarization (CMP) processes. Gaining awareness of the advantages of colloidal silica and significant investments in research to develop novel colloidal products are also establishing new opportunities for colloidal silica businesses in the future.

Colloidal silica producers are looking to expand their production capacity to meet the growing demand globally as the usage horizon of colloidal silica increases across various industry segments.

  • In February 2020, W. R. Grace & Co., an American chemicals manufacturer and supplier, announced the inauguration of its new colloidal silica plant at the firm's R&D and manufacturing facility in Worms, Germany. The commissioning of this new 8,200 square-meter plant enabled the firm to double the production capacity of LUDOX, the firm's flagship colloidal silica product.

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https://www.factmr.com/connectus/sample?flag=S&rep_id=3593

Key Findings of Market Research

  • The world colloidal silica market is valued at US$ 1.01 billion in 2023.
  • Colloidal silica demand is anticipated to increase at a CAGR of 4.1% during the forecast period 2023-2033.
  • The market is expected to reach a revenue of US$ 1.56 billion by 2033-end.
  • Bolstering building construction, rise in demand for semiconductor production, rising sales of electronics, and rising expenditure on R&D related to colloidal silica are likely to be main market drivers.
  • High raw material price volatility and sluggish drying behavior of colloidal silica are poised to be some of the predominant restraints in market growth over the long term.
  • Demand for colloidal silica in Europe is anticipated to find a valuation worth US$ 485.7 million by end-2033.
  • Sales of acidic colloidal silica are valued at US$ 407.4 million in 2023.
  • East Asian colloidal silica shipments are expected to grow at 4.9% CAGR during the next decade.
  • Sales of colloidal silica in China are anticipated to reach US$ 282.5 million by the end of the forecast period (2023 to 2033).
  • Investment casting applications demand for colloidal silica account for 28.6% of the global market in 2023.

"Colloidal silica businesses must invest in R&D to enhance the application area of their offerings and increase their revenue generation potential in the future," according to a Fact.MR analyst

Key Companies Profiled in This Report

  • Cabot Corporation
  • Solvay SA
  • PPG Industries Incorporated
  • Ecolab Incorporated
  • Evonik Industries
  • Imreys SA
  • Nouryon (Akzo Nobel)
  • W R Grace
  • Adeka Corporation
  • Elkem Chemical Industries
  • Nissan Chemical
  • Merck Global

Winning Strategy

Colloidal silica firms ought to prioritize increasing their capacity to produce colloidal silica to cater to the increasing demand for colloidal silica since this would be vital in enabling them to rake in revenue to finance their other expansion activities. Colloidal silica manufacturers can also market their products as environmentally friendly to enhance their sales potential and enhance business scope at the global level in the future.

Browse Full Report: https://www.factmr.com/report/3593/colloidal-silica-market 

Country-wise Insights

For What Reason Is the US Market an Appropriate Fit?

"More and More Utilizing Colloidal Silica in a Wide Range of Applications"

The United States is likely to experience a dramatic rise in colloidal silica shipments in the coming years because the nation's ongoing construction activity will continue to boost demand. In the next decade and more, it is predicted that the United States will experience an upsurge in the sales of colloidal silica as a result of the enormous demand for scratch-resistant flooring in all types of construction projects and increasing use of colloidal silica in floor coatings.

At the conclusion of the research period, United States' colloidal silica exports are forecast to rake in US$ 295.9 million in revenues.

Producers of colloidal silica are focusing on expanding their output capacity so that they can serve the expanding demand and raise income generation in the US on the horizon.

The US specialty chemicals supplier Nouryon announced in November 2021 that it will start a new project to increase the Green Bay, Wisconsin, USA facility's capacity to manufacture colloidal silica for Levasil brand products. The company made the switch in a bid to meet the fast-growing demand for colloidal silica in the North American market.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global colloidal silica market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights on the market based on formulation (acidic, alkaline), particle size (up to 50 nm, 51 to 100 nm, above 100 nm) and application (catalysts, electronics, construction, coatings, investment castings, refractories, others), and across six major regions of the world (North America, Europe, Latin America, East Asia, South Asia & Oceania, and the Middle East & Africa).

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