The fumed silica market is projected to reach $2.26 billion by 2022, at a compound annual growth rate (CAGR) of 7.1% between 2017 and 2022, according to Research and Markets’ "Fumed Silica Market by Type (hydrophilic, hydrophobic), Application (paints and coatings and inks, adhesives and sealants, pharmaceuticals, UPR, gel batteries, lighting), and Region (North America, Asia-Pacific, Europe)―Global Forecast to 2022" report.
Based on type, the fumed silica market has been categorized into hydrophilic and hydrophobic in this report. The hydrophilic fumed silica segment is reported as the largest type segment of the fumed silica market, both in terms of volume and value. The hydrophobic segment is expected to grow at the highest CAGR during the forecast period in terms of volume. This growth is considered to be mainly attributed to the water-repellent properties of hydrophobic fumed silica.
Based on application, the fumed silica market has been segmented into coatings and inks, adhesives and sealants, pharmaceuticals, UPR, gel batteries, and lighting, among others, according to this report. The growth of the coatings application segment of the fumed silica market is suggested to be primarily driven by the rising demand for water-based coatings from the architectural and industrial applications.
Reportedly North America, Asia-Pacific, and Europe are key regions in the fumed silica market. The market in the Asia-Pacific region is anticipated to grow at the highest CAGR between 2017 and 2022 in terms of value and volume. This growth is mainly attributed to the increasing usage of fumed silica in coatings, adhesives and sealants, UPR, and gel batterys applications.
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