Rising demand from Rubber Industry is expected to drive the Global nano silica market in the forecast period 2024-2028. According to the TechSci Research report, “Nanosilica Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, the Global Nanosilica market is anticipated to upsurge at an impressive rate in the forecast period 2024-2028.
The Important Factors of the Global Nano silica Market
A significant factor fueling the growth of the Global Nanosilica Market is the increasing demand from the coating sector, as superhydrophobicity in the coating results in a high water contract and a low sliding angle. Moreover, the increasing investment in research and development activities by market players for developing new and innovative applications for nanosilica is creating new opportunities for growth and expansion as well as increasing focus on sustainable and eco-friendly products and rising demand for nano-silica, resulting in the growth of the nanosilica market. The use of Nanosilica is increasing because of its low cost as compared to carbon nanotubes and acts as a reinforcing agent for rubber and concrete to help in improving the mechanical properties which result in, the growth of the Global Nanosilica Market in the forecast period.
For instance, in 2020, according to the U.S. Census Bureau around 1.4 million units of both residential and commercial buildings were constructed across the country.
Furthermore, the market is being further stimulated by the extensive use of nanosilica in the plastic rubber industry, paint & coatings, and healthcare.
However, the high cost of production can slow down market growth. Also, the emission of silica fumes can further slow down the market growth.
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Global Nanosilica Market is segmented based on type, application, and region.
Based on type, the market is segmented into p-type (porous), s-type (spherical), and others. The P-Type segment will experience the highest market share during the forecast period, 2024-2028. It is an excellent admixture for concrete as it leads to better engineering properties.
Based on application, the market is segmented into rubber, coatings, plastics, battery, and others. The rubber segment will experience the highest market share during the forecast period, 2024-2028. Nanosilica enhances the mechanical properties of vulcanized rubber and also increases the tensile strength of natural rubber.
Major companies operating in the Global Nanosilica Market are:
- Evonik Industries AG
- NanoPore Incorporated
- nanocomposite
- Bee Chems
- Cabot Corporation
- AkzoNobel N.V.
- Wacker Chemie AG
- Nanostructured & Amorphous Materials, Inc.
- Fuso Chemical Co., Ltd.
- US Research Nanomaterials, Inc.
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“Asia Pacific region is expected to grow at the highest rate during the forecast period. This is due to the increasing residential and commercial construction schemes with rising demand for high-quality construction raw materials and growing application in paint & coatings in places, including the medical sector. Furthermore, in North America, increasing investment for research and development by many players to develop sustainable and eco-friendly products and generating new and innovative applications for nano silica is creating huge prospects of market growth during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Nanosilica Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (P-Type (Porous), S-Type (Spherical), Others), By Application (Rubber, Coatings, Plastics, Battery, Others), By Region and Competition, has evaluated the future growth potential of Global Nanosilica Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Nanosilica Market.”
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