Growing need for moisture resistant packaging in the pharmaceutical industry has led to an increasing demand for silica gel globally. Increasing need for segregating and collecting components of various drugs in the pharmaceutical industry is projected to impact growth of the global silica gel market positively. Persistence Market Research recently published a report, which reveals that the global silica gel market will register a growth of 3.6% CAGR over the predicted period, 2017 – 2025.
Factors Propelling Global Market Growth
Increasing development in biotechnology has led to an upsurge in demand for silica gel globally. Surge in need for column chromatography enables segregation and collection of various components of a drug. Growing need to research medicines including sedatives, steroids, anesthetics, analgesics, and hypnotics has further escalated demand for silica gel globally. Moreover, several industries including electronics, pharmaceutical, and food industry are increasingly focusing on protective and moisture resistant packaging. These factors are predicted to contribute towards growth of the global silica gel market positively during the predicted period.
On the other hand, increasing availability of alternative products including activated clay, molecular sieves, alumina, and activated charcoal is projected to hinder growth of the global silica gel market. Unlike silica gel, use of alternative products is limited to applications such as liquid dehydration, biohazards, bioterrorism, and gas. Attributed to relatively low cost, the alternative products witness significant demand among the end users. Such factors are likely to inhibit growth of the global silica gel market throughout 2025.
Paints and Coatings to Register Significant Growth
Chromatography among various products is projected to register a value of US$ 45.4 Mn by 2017-end. This segment is projected to reflect a growth of 3.1% CAGR in the global market through 2025. The chromatography segment is projected to represent an incremental $ opportunity of US$ 13.8 Mn between 2017 and 2025. In 2017, paints and coatings among other segments is projected to represent US$ 97 Mn in the global silica gel market. This segment is predicted to register a growth of 3.8% CAGR in the global market, and is projected to represent US$ 130.6 Mn by 2025 – end. The paints and coatings segment is expected to represent US$ 36.8 Mn incremental $ opportunity between 2017 and 2025. Desiccants among other segments is projected to represent US$ 348.2 Mn, and will reflect a growth of 3.8% CAGR in the global market throughout 2025.
APAC to Represent a Leading Market
APAC among various regions is projected to represent the most profitable market globally for silica gel. The market of silica gel in APAC is predicted to reflect a relatively high CAGR during the projected period. The packaging industry in APAC is projected to witness a significant growth attributed to big and small industries mainly concentrating on logistics. Moreover, rapid surge in the number of electronic enterprises in APAC has led to an upsurge in demand for silica gel in countries including Japan, China, and India.
A sample of this report is available upon request @ https://www.persistencemarketresearch.com/samples/16861