Demand for silica gel is witnessing a surge in agriculture, food & beverages, biotechnology, and electronics industries, and also from R&D labs and academic institutes. Silica gel is being increasingly used in personal care products, pharmaceuticals, and packaging, which are sectors that have not been adversely affected as most others have due to the COVID-19 outbreak. Increasing popularity of silica-based chillers and growing application of fragrance silica gel are also aiding market growth. A recent report by Persistence Market Research (PMR) estimates that, the global silica gel market will reach a valuation of around US$ 750 Mn by the end of 2030.
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Key Findings from Silica Gel Market Study
- By product type, non-indicating silica gel will continue to be sought-after in the market, with sales expanding at a comparatively higher CAGR than indicating silica gel. Growing demand for non-indicating silica gel is primarily attributed to its varied scope in applications such as desiccants, plastics, personal care products, and paints & coatings.
- In terms of volume, fine-pore silica gel is estimated to exhibit a high CAGR through 2030, and will remain dominant in the global silica gel market.
- In terms of volume, desiccants will continue to be the largest application of silica gel, followed by pharmaceuticals, and paints & coatings. Pharmaceutical application of silica gel is expected to register the highest CAGR through 2030. In contrast, application of silica gel in catalyst support will exhibit the lowest CAGR over the coming years.
- Asia Pacific is projected to be the most lucrative region for players in the global silica gel market.
Silica Gel Market: Key Players
Key market players identified in PMR’s report on the global silica gel market include W.R. Grace & Co., Thermo Fischer Scientific, Merck KGaA, Clariant, BASF SE, AGC Chemicals Americas, Osaka Soda Co., Ltd., Silicycle, Multisorb Technologies, Hengye, Inc., Dessicare, Inc., PQ Corporation, Fuji Silysia Chemical ltd., and Qingdao Makall Group Inc.
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