Award winning market research company Fact.MR has published a report on the global colloidal silica market. As per its findings, the market is expected to witness a gradual incline through 2021, attributed to the cessation of production activities of key end-use industries amidst the COVID-19 pandemic crisis. The market is expected to make substantial gains in the long-run, expected to grow at a 6% CAGR across the forecast period.
According to the report, the market received major tailwinds in the historical period, with global sales being valued at over US$ 800 million in 2018. These were largely recorded across the coatings, electronics and construction industries respectively. Hence, manufacturers have introduced differently graded colloidal silica products in various forms.
For instance, Nouryon Chemicals manufactures the Levasil colloidal silica which enhance corrosion resistance for metal surface treatment and metal coatings. These Levasil colloidal silica grades are excellent binders for producing mechanically stronger coatings with excellent welding properties, especially for zinc-rich and shop-primer coatings. Similarly, Grace Davison Engineered Minerals manufactures the LUDOX colloidal silica coatings, ranging from 5 nm to 60 nm.
“Growing applicability across multiple end-use industries is causing the global colloidal silica market to widen its revenue prospects, as numerous manufacturers are seeking to expand their market footprints by introducing new and improved colloidal silica grades,” comments a Fact.MR analyst.
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Key Takeaways from Fact.MR’s Colloidal Silica Market Study
Colloidal Silica Market- Prominent Drivers
Colloidal Silica Market- Key Restraints
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Competitive Landscape
Cabot Corporation, Evonik Industries, Nouryon (Akzo Nobel), W R Grace, Ecolab Incorporated, PPG Industries, Merck Global, Adeka Corporation, Elkem Chemical Industries, Solvay SA, Imreys SA and Nissan Chemicals are some prominent colloidal silica manufacturers profiled by Fact.MR’s report. Expansion strategies include acquisitions, capacity expansion, new product launches and collaborations.
In January 2020, Cabot Corporation’s wholly owned subsidiary Cabot China Limited acquired Shenzhen Sanshun Nano New Materials Co. Ltd., a leading carbon nanotube producer in China, for a sum of nearly US$ 115 million. With respect to product launches, the company manufactures the CAB-O-SIL TG-C colloidal silica series.
In July 2020, Nouryon Chemicals opened a new integrated services office for its North America business in Houston, Texas, with the intention of expanding its chemical compounds production capacities, including colloidal silica. The inauguration of this facility led to the addition of over 100 new employees, leading to streamlining of business operations.
More Valuable Insights on the Colloidal Silica Market
Fact.MR, in its new offering, presents an unbiased analysis of the colloidal silica market. The study delivers essential insights on the colloidal silica market on the basis of formulation (alkaline & acidic), particle size (up to 50 nm, 51 to 100 nm, and above 100 nm) and application (coatings, construction, catalysts, electronics and other applications) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
Read Fact.MR Exclusive Article on Emerging Growth Frontiers in the Global Coatings Industry –
https://www.factmr.com/article/109/emerging-growth-frontiers-in-the-global-coatings-industry
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