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(IndustryNews247.Com, September 28, 2022 ) The global Colloidal silica market size was valued at USD 825.0 million in 2021 and is poised to grow at a significant CAGR of 4.5% during the forecast period 2022-28. Spherical, non-porous, but finely amorphous silica suspensions are referred to as colloidal silica when they are present in a liquid phase. When colloidal silica is exposed to water, siloxane linkages and silanol groups cover the surface. To control flowability, this substance is frequently used as a rheological component in a variety of personal care products. This element is anticipated to promote market expansion prospects for colloidal silica during the ensuing years.
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The Colloidal Silica Market Growth Factors:
The increase in demand for rubber, paints, and coatings across manufacturing sectors, including construction & electric vehicles, is credited with driving the expansion of the Colloidal silica market. The tire industry is likely to benefit from a large increase in the manufacturing of electric vehicles (EVs), which is anticipated to have a beneficial impact on demand for Colloidal silica. Global EV sales in 2021 increased by more than two million from 2020 to 6.5 million. Over a million affordable houses are to be either preserved or constructed, according to the government. Over the next few years, rising product demand from a variety of application sectors, including packaging, rubber, paints, and coatings, is anticipated to drive market expansion.
The Colloidal Silica Market Segmentation
The global Colloidal Silica Market on the basis of Product, the market is segregated into Alkaline Colloidal Silica, Modified Colloidal Silica, Acidic Colloidal Silica, and Ordinary Colloidal Silica. On the basis of Application, the market is categorized into Metals & Metallurgy, Pulp & Paper, Electronics & Semiconductors, Chemicals, Paints & Coatings, Building & Construction, and Textiles & Fabrics.
The Colloidal Silica Market Trends
• Short-term increases in demand for silicon wafers for the manufacture of integrated circuits in electronic gadgets and increased demand for cement and concrete in the worldwide construction industry.
• The market is anticipated to be dominated by the Asia-Pacific region, which is also anticipated to see the fastest CAGR.
• Due to the accelerated development in the production of electronic components, namely semiconductors for which silica is utilised as an abrasive polish, colloidal silica is seeing growing demand from the electronics industry.
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The Colloidal Silica Market Regional Analysis
The Asia Pacific is projected to provide industry participants with significant growth prospects in the global colloidal silica market. Increased demand for colloidal silica from the electronics and semiconductor industries is thought to be a contributing factor in the region's rise. Leading manufacturers place a strong emphasis on developing products that meet the needs of end-use applications.
The major players operating in the colloidal silica market are Jinan Yinfeng Silicon Products Co., Ltd., FUSO CHEMICAL CO., LTD., Zhejiang Yuda Chemical Co., Ltd., CABOT CORPORATION, Evonik Industries AG
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