According to CMi Global Nanosilica Market Size, Forecast, Analysis & Share Surpass US$ 5.95 Billion By 2030, At 6.6%CAGR

The Nanosilica Market was at US$ 3.46 Billion in 2021 and is growing to approx US$ 5.95 Billion by 2030, with a CAGR growth of 6.6% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, January 31, 2023 /EINPresswire.com/ -- According to the study, The Global Nanosilica Market was estimated at USD 3.46 Billion in 2021 and is anticipated to reach around USD 5.95 Billion by 2030, growing at a CAGR of roughly 6.6% between 2022 and 2030.

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Nanosilica Market: Overview

The nanosilica has a wide range of applications in various end-use industry such as adhesive and sealant, paint and coating, biomedical, pharmaceutical, rubber and plastics, and many others. Nanosilica has large surface energy, strong surface adsorption due to its fine particle, high chemical purity, and good dispersion.

The global nanosilica market is evolving, and companies are now focusing more on strengthening and consolidating R&D activities; thereby, increasing the production capacity of nanosilica thus, driving the market growth by catering the need to nanosilica to various end-use industries.

Nanosilica Market: Growth Drivers

Increasing demand from the construction sector acts as one of the key factors responsible for the growth of the global nanosilica market. The nanosilica are preferred over conventional coatings material due to their low volatile organic content. Nanosilica is used extensively in the construction industry by addition of nanoparticles will lead to stronger, more durable, self-healing, air purifying, fire resistant, easy to clean, and quick compacting concrete. For instance, according to an article published by Invest India in the year July 2022, the construction industry is expected to reach $1.4 trillion by 2025. These factors are anticipated to increase the demand for nanosilica in the construction sector.

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Key Insights:

A) As per the analysis shared by our research analyst, the Nanosilica market is estimated to grow annually at a CAGR of around 6.6% over the forecast period (2022-2030).
B) In terms of revenue, the Nanosilica market size was valued at around USD 3.46 Billion in 2021 and is projected to reach USD 5.95 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) However, stringent government norms and regulation regarding the use nanosilica has hampered the growth of market. In addition, the workers and manufacturers get habitual exposure to nanosilica in the industrial sector which may lead to the risk of developing silicosis disease.
D) The utilization of nanosilica is increased in the rubber and plastic industry where it is widely employed in the manufacturing of rubber as it helps in enhancing the mechanical strength of vulcanized rubber by acting as a reinforcing agent.
E) Over the forecast period, the rise will change the preference of manufacturers. In addition, the lack of awareness about the benefits of nanosilica may hinder market growth. Rising prices of raw materials of nanosilica have hampered the growth of the market thus, the manufacturer is switching their preferences to alternative substitutes.

Press Release For Nanosilica Market : https://www.custommarketinsights.com/press-releases/nanosilica-market/

Regional Landscape

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is the dominant region in the nanosilica market. This region is also anticipated to maintain its dominance throughout the forecast period. Countries such as China, Japan, India, and others have significant contributions to the growth of the nanosilica market in the region. Key factors for the growth of building and construction activity, agriculture practices, the paint and coatings industry, and the growing automotive sector has surged the demand for nanosilica.

Furthermore, the building & construction, sector is one of the booming sectors in the US. For instance, according to a report published by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development in the year June 2022, the privately owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,695,000 0.2% above the May 2021 rate. Owing to such factors the demand for nanosilica has increased. The nanosilica are used in the building and construction activity for cementitious admixtures in concrete to deploy improved load carrying capacity. Since nano silica is extremely fine, it helps to strengthen the microstructure of the cementitious matrix as a result of its pozzolanic activity.

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Key Players

Evonik Industries
Akzonobel N.V.
I. DU Pont De Nemours and Company
Cabot Corporation
Nanopore Incorporated
Nanostructured & Amorphous Materials, Inc. (NANOAMOR)
Fuso Chemical Co. Ltd.
Wacker Chemie AG
Dow Corning Corporation
Bee Chems. AG
Normet
Nanosil (Asia Pacific) SdnBhd
US Research Nanomaterials, Inc.

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The Nanosilica Market is segmented as follows:

By Product Type

P-type
S-type
Type III

By Application

Concrete
Rubber
Electronics
Healthcare
Paint &Coatings
Agriculture
Plastics
Others

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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