Due to the silicon fumes physical and chemical properties such as large surface area and highly reactive nature, they are used as a pozzolan in concrete. These properties lets the silica fumes be used in the mammoth construction structures. The silica fumes are added to the concrete in the required proportion. The silica fumes also don't allow the salts and their ions in, providing resistance. The silica fumes are available both in wet and dry forms.
The market for silica fumes was estimated to be worth USD 564.7 million in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 4.7% to reach USD 986.7 million by 2029.
The marine sector is the second largest end user of the silica fumes. Due to its anti-abrasive and anti-permeable characteristics, the silica fumes are used along with the concrete for the construction of the ports, shipyards and bridges.
The oil and gas are anticipated third largest consumers of the silica fumes. Due to its efficient provision of durability to the concrete, the silica fumes are apparently utilized in the construction of pipelines for the easy flow of lubricants and gas in the construction of boring and drilling wells.
During the manufacture of silicon metal and ferrosilicon alloys, Silicon Fumes are obtained as a by product. The silicon fumes are amorphous in nature. The silicon is obtained by heating quartz and carbon in smelting furnace. The silicon fumes which are released in the process are collected in a bag house filter. Ultrafine particles of silicon dioxide with a larger surface area are believed to be a primary composition of silica fumes.
The Middle East and Africa are the most fast growing markets of silica fumes. Developing economies and increasing construction is the driving factor for it. The developing economies such as UAE and Saudi Arabia are fueling the demand of silica fumes.
China and U.S. are estimated to be the next growing markets for the silica fumes. These two prime economies are most likely responsible to maintain majority share of the market resulting to increasing government expenditure assignment in infrastructural development and maintenance activities in the coming years. Also, Asia pacific and Latin America are also expected to augment the demand of the silica fumes. On the account of rapid industrialization and urbanization the market of silica fumes is expected to grow in the emerging economies such as India, Brazil, Indonesia and Malaysia.
Silica Fumes Market: Competitive Landscape
The global silica fume market types is segmented into several classifications including application outlook, and regional outlook. Based on the application, the market is segmented into building construction, marine structure construction, chemical production facilities construction, oil & gas well grouting, nuclear power plant construction, and others. Whereas, based on the regional outlook, the market is divided into Middle East & Africa, North America, Asia-Pacific, South America, and Europe.
The key manufacturers and suppliers are silica fume market include Norchem Inc., Elkem AS, Cement Industries Inc., Dow Corning Corporation, and Wuhan Newreach Microsilica Co., Ltd.
Majority of the key players in the market associated with the product improvement and product diversification to ensure competitive edge over other players.
Paying a read about silica fumes market, it also has a qualitative insights, verifiable projections, and historical data about the market size over the forecast period.
Silica Fumes Market Scope
|Revenue forecast in 2029
|USD 986.7 million
|CAGR of 4.7 % during 2019-2029
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Norchem Inc., Elkem AS, Cement Industries Inc., Dow Corning Corporation, and Wuhan Newreach Microsilica Co., Ltd.
Key Segmentation of the global silica fumes market
On the Basis of Application:
- Building Construction
- Marine Structure Construction
- Chemical Production Facilities Construction
- Oil & Gas Well Grouting
- Nuclear Power Plant Construction
On the Basis of Region:
- Middle East & Africa
- North America
- South America
What to expect from the upcoming report on ‘Global Silica Fumes Market:
- Future prospects and current trends of the global Silica Fumes market by the end of forecast period (2018-2025)
- Information regarding technological progressions as well as innovations taking place in developing economies
- Supportive initiatives by government likely to influence the market dynamics
- Trends, drivers, opportunities, restraints, challenges and key developments in the market
- In-depth analysis of different market segmentations including regional segmentations, and product types
Frequently Asked Questions (FAQ) :
The global market for the Silica Fumes is anticipated to develop at a compound annual growth rate (CAGR) of 4.5% throughout the course of the forecast, to reach $701.6 The global market for the Silica Fumes is anticipated to develop at a compound annual growth rate (CAGR) of 4.5% throughout the course of the forecast, to reach $701.6