According to a recent report published by Fast Market Research, titled, Silicon dioxide Market 2018: Market Value, Trends, Opportunity, forecast 2018-2024, “the global Silicon dioxide market accounted for USD XX Million in 2018 and is estimated to reach USD XX Million by 2024. Moreover, it is anticipated to flourish at a CAGR of XX% during the forecast period i.e. 2018-2024.
Silicon dioxide, with chemical formula SiO2 is commonly found in nature as quartz and various living organisms. Silicon dioxide is a tough substance that is resistant to chemicals and alteration. Such properties make Silicon dioxide an essential material in a range of industries including the glass industry, the optical industry, food industry, building industry, and more. The global Silicon dioxide market reached a market valuation of USD XX.X Billion in 2018 and is estimated to grow at a CAGR of XX.X% during the forecast period, i.e., 2019- 2024.
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Market Insights
Growth Drivers – Silicon dioxide Market
Wide Range of Industrial Application
Silicon dioxide founds a range of applications across many industries. Different kinds of Silicon dioxides are being used in different areas; for instance, SiO2 is used as fillers in plastics, rubber, dyes, and adhesives and serve as adsorbents or trickling agents. Further, rapid industrialization across the globe, especially in developing and underdeveloped countries, is anticipated to increase the consumption of Silicon dioxide in the coming years. Furthermore, the introduction of new applications of Silicon dioxide is another factor which is poised to bolster the growth of the global Silicon dioxide market.
Growing Construction Activities
Silica is one of the most common compounds found in the earth and is used in construction materials, concrete, Portland cement, electronics, and as an ingredient in some foods and medications. Among the above applications, building & construction application is actively growing use of Silicon Dioxide. Many common construction materials contain silica including, for example, asphalt, brick, cement, concrete, drywall, grout, mortar, stone, sand, and tile. Strong use of silicon dioxide in construction building and rapidly growing construction activities across the globe are expected to bolster the growth of the global Silicon dioxide market.
Barriers – Silicon dioxide Market
Some of Silicon dioxide’s applications could be a hazard to human health and the environment. Further, the presence of other alternative material is also a key barrier in the growth of the global Silicon dioxide market.
Segmentation Analysis
The Silicon dioxide market is segmented in different categories including by form, by source, by industry, and by the application. The market is segmented by form into amorphous, and Crystalline (Quartz, Tridymite, Cristobalite). Among this segment, the amorphous layer is expected to capture significant shares of the market in 2018. Global amorphous Silicon dioxide segment was totaled at USD XXX.X billion in 2018 and is projected to reach USD XXX.X billion in 2024 at a CAGR of XX.X% from 2019 to 2024.
Moreover, based on the source, the Silicon dioxide market is further sub-segmented into natural and synthetic. Among which natural segment is about to register a remarkable growth rate in upcoming years. The report is further breakdown into two more sections including by application (adhesives & sealants, coatings, food additives, greases, composites, printing & packaging, others) and by industry (chemical, electrical, pharmaceutical, food & beverage, others).
Geographical Analysis
Regionally, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America holds a significant share in the global silicon dioxide market. With robust technological development combined with widespread applicability of silicon dioxide across industries is spurring the growth of the Silicon dioxide market in the North America region.
Competitive Analysis
The report also covers detailed competitive analysis of major market players of the global Silicon dioxide market, such as Evonik Industries AG, PPG Industries, Inc., Cabot Corporation, Solvay, American Elements, Wacker Chemie AG, Tokuyama Corporation, Tosoh Corporation, Gelest, Inc. and Aluflor AB and other major & notable players. Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by business segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
SegmentationBy Form
– Amorphous
– Crystalline
– Quartz
– Tridymite
– Cristobalite
By Source
– Natural
– Synthetic
By Industry
– Chemical
– Electrical
– Pharmaceutical
– Food & Beverage
– Others
By Application
– Adhesives and sealants
– Coatings
– Food additives
– Greases
– Composites
– Printing and packaging
– Others
By Geography
– North America (U.S. & Canada)
– Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
– Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
– Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
– Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Competitive Landscape
The report profiles various major market players such as
• Evonik Industries AG
• PPG Industries, Inc.
• Cabot Corporation
• Solvay
• American Elements
• Wacker Chemie AG
• Tokuyama Corporation
• Tosoh Corporation
• Gelest, Inc.
• Aluflor AB
• Other Notable Players
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