Nanosilica is a mesoporous form of silica, it is a siliceous material, which is pozzolanic in nature and is produced from nanotechnology. Nanosilica is an allotrope of silicon, and is found most abundantly in the Earth’s crust. Several industries have witnessed a significant increase in demand for nanotechnology in recent years. Nanosilica has uniform size distribution, and has high particle concentration. Furthermore, it has increased toughness, which enables nanosilica to be utilized in various industries such as rubber, concrete, plastics, electronics, coatings, and medical. Increasing demand for nanosilica in various application industries has been a major factor driving the nanosilica market. However, the high cost of nanosilica coupled with implementation of government regulations is hampering the market, despite its positive influence in various applications.
Based on product type, the nanosilica market can be classified into S type, P type, and others. The concrete industry is witnessing an increase in demand for nanosilica due to the expansion of the construction industry. This, in turn, is projected to propel the P type segment during the forecast period. The S type segment also holds a significant share of the market due to the rising demand from end-use industries, particularly in Asia Pacific and North America.
Based on form, the nanosilica market can be segmented into porous and spherical. The porous segement is expected to account for a significant share of the market due to its high demand from the concrete application. Additionally, the spherical segment is also projected to expand at a high growth rate, as this form is used in various applications. Increasing awareness about nanosilica intermediary products is also expected to fuel the market during the forecast period.
In terms of end-use industries, the nanosilica market can be segregated into construction, rubber, coating, packaging, and others. The construction industry holds a significant share of the market, as nanosilica is primarily used as concrete mixtures due to its high mechanical strength. Rubber and coating end-use industry segments are witnessing an increase in demand for nanosilica, which is driving the market, as it is used as an intermediated and additive in the respective end-use industries. Thus, the global demand for nanosilica has increased due to the rising demand from various applications.
Based on region, the global nanosilica market can be segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is estimated to be a prominent market for nanosilica. China and Japan, have been witnessing strong economic growth due to increasing industrial activity in various application sectors. Additionally, the presence of significant production capacity in countries such as India, China, Taiwan and Japan is likely to boost the Asia Pacific market. Latin America and Middle East & Africa also account for a significant share of the global market, due to the rising demand for nanosilica from various end-use industries in these regions. Moreover, the presence of major end-user industries is further propelling the market in North America and Europe.
The nanosilica market is highly competitive, due to presence of major players in the market and also the market experiences a major contribution from local suppliers and manufacturers in Asia Pacific. Key player operating in the global nanosilica market include Evonik Industries, E. I. du Pont de Nemours and Company, AkzoNobel N.V., Fuso Chemical Co. Ltd., Nanostructured & Amorphous Materials, Inc, NanoPore Incorporated, Dow Corning Corporation, Wacker Chemie AG, Bee Chems, and Cabot Corporation.
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