The demand for silica gel is experiencing a sharp increase in agriculture, food and beverage, biotechnology and electronics industries, as well as in research and development laboratories and academic institutes. Silica gel is increasingly being used in personal care products, pharmaceuticals and packaging, sectors that have not been impacted like most by the COVID-19 outbreak.
The increasing popularity of silica-based chillers and the increasing application of fragrance silica gel are also contributing to the market growth. A recent report by Persistence Market Research (PMR) estimates that the global silica gel market will reach aapproximately $ 750 million by the end of 2030 .
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Silica Gel Market Segmented By Indicating and Non-Indicating Silica Gel Product Type with Fine, Medium and Wide Pore for Chromatography, Catalyst Support, Paints and Coatings, Plastic
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Key insights from the Silica Gel market study
- By product type, indicatorless silica gel will continue to be in demand in the market with sales growing at a comparatively higher CAGR than indicator silica gel. The growing demand for non-indicating silica gel is primarily attributed to its wide range of uses in applications such as desiccants, plastics, personal care products, and paints and coatings.
- In terms of volume, it is estimated that fine pore silica gel will have a high CAGR by 2030 and will remain dominant in the global silica gel market.
- Desiccants will continue to be the largest application of silica gel by volume, followed by pharmaceuticals and paints & coatings. Pharmaceutical application of silica gel is expected to register the highest CAGR by 2030 . In contrast, the application of silica gel as a catalyst support will show the lowest CAGR in the coming years.
- Asia Pacific is anticipated to be the most lucrative region for players in the global Silica Gel Market.
Silica Gel Market: Major Players
Key market players identified in PMR’s report on the global silica gel market include WR 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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