Nano Silica Market: Overview
The size of the global market for nano-silica was estimated at USD 4,274.1 million in 2021 and is anticipated to increase at a CAGR of 6.4%. The demand under consideration is significantly influenced by the growing supply of Nano-silica in the rubber industry and the need from the coatings sector. The expanding market for nano-fertilizers in agriculture is projected to create several profitable opportunities. They are affordable and widely accessible. In many different industries, including concrete and rubber, nano silica is becoming more and more common as an addition. In addition, it is anticipated that the need for coatings will increase due to the expansion of construction applications in the coming years. To enhance the qualities of concrete, construction companies are increasingly requesting supplemental cementitious materials (SCMs) such as nano-silica. Between now and 2050, the construction industry must erect 13,000 structures daily to accommodate the 7 billion people predicted to live in cities. Thus driving the expansion of the worldwide nano silica market is the growing construction sector.
With its great mechanical stability and longevity, nano silica is a Supplementary Cementitious Material (SCM) in rubber, paints & coatings, and concrete. It improves the qualities of rubber, concrete, and other materials; as a result, the construction and automotive industries are considerably increasing demand for SCMs, including nano-silica, which is majorly fueling the growth of the worldwide nano-silica market. Increasing sales of cosmetics and personal care items, rising demand for electronic goods, and rising agricultural activity are a few additional significant variables propelling market revenue growth.
Growing R&D expenditures, notably in developed nations like China, India, the U.S., and others, have been a major driver of nano-silica demand worldwide. The product has undergone extensive R&D to improve it, which has created new opportunities for using nano-silica in fields like agriculture and healthcare. In August 2021, PyroGenesis Canada Inc., a top producer of sustainable solutions and advanced plasma processes, reported the successful creation of its new and more sophisticated nano silicon materials using the PUREVAP Nano Silicon Reactor (NSIR) method.
Nano Silica Market: COVID-19 Impact
Numerous nations worldwide have been impacted by the COVID-19 (coronavirus) pandemic. The nano-silica market suffers due to numerous precautionary actions like lockdowns, trading activity suspensions, and factory closures. However, businesses in the market respond favorably to the government advice offered to protect the health of workers and employees. The COVID-19 crisis's primary disadvantage is the temporary shutdown of production facilities, negatively impacting revenue-generating activities. Foreign direct investment has slowed due to the coronavirus outbreak (FDI). With the factory closures, a significant decline in FDI investments suggests negative consequences on the nano-silica industry and the energy, chemicals, and electronics industries.
Nano Silica Market: Drivers
Growing Application of Nano-Silica in RNA and DNA Vaccine Delivery System to Drive Market’s Growth
One of the most generally accepted methods for creating nucleic acid vaccines is lipid nanoparticles (LNPs). LNPs have some serious downsides, including cytokine buildup in the liver and spleen and problems activating systemic inflammatory cytokine release. As a result, businesses in the nano-silica industry are concentrating on delivering pharmaceutical items using DNA and RNA. With the fact that these innovative NPs can be appropriately adjusted to trap a variety of compounds, silica nanoparticles are being used in a variety of consumer and pharmaceutical products. These developments are accelerating the market for nano-silica's revenue growth. With the delayed degradation of silica nanoparticles caused by harmless byproducts, pharmaceutical medicines with entrapped substances release their contents gradually. As a result, N4 Pharma, a specialized pharmaceutical business, is earning attention on a global scale for its cutting-edge nano-silica delivery technology, which is utilized to develop new vaccines and medicines.
Demand for Paints, Varnishes, and Sealants has Increased, Driving Market’s Growth
Nano-Silica demand is anticipated to be driven globally during the projected period by the rising demand in the paints, coatings, and sealants sector. According to the World Painting and Coating Association, the global painting and coating market is expected to generate $150 billion in revenue in 2020, and demand for Nano-Silica is rising as the industry works to enhance the properties of paints and coatings to satisfy customer demand. Sealants containing Nano-Silica exhibit thixotropic behavior and provide sag-specific characteristics for effective practical application. It also gives reinforcing and mechanical qualities to sealants. Nano-Silica has an edge in the sealants industry and holds supremacy since these qualities cannot be obtained from any other source. A booming construction sector globally is driving the demand for paints and coating, presenting considerable potential opportunities for the Nano-Silica market. This increased demand for Nano-Silica by simulating the use of sealants, paints, and varnishes.
Nano Silica Market: Restraints
Nano-Silica'S Harmful Effects on Human Health to Restrict Market’s Growth
People who utilize the products that include Nano-Silica in various end-use industries may be exposed to various health risks. When exposed repeatedly, it can damage the eyes and irritate them to the point of inflammation. It may result in flu-like symptoms such as headaches, fever, chills, pains, coughing, and tightness in the chest. One long-term impact of Nano-Silica, which can harm the lungs, is fibrosis. Studies in biology are being conducted to determine how Nano-Silica affects living things. The synthetic Nano-Silica is made without contamination of crystalline silica. Although crystalline silica is now occasionally contaminated, this increases the health concerns and dangers for pulmonary diseases such as lung cancer, chronic bronchitis, chronic obstructive pulmonary disease (COPD), and silicosis. In addition, several laws limit the usage of Nano-Silica.
Nano Silica Market: Segment Overview
P-Type Nano-Silica to Dominate Market due to Its Increased Benefits in Various Applications
The P-type category topped all other segments by revenue share in the global market. P-type nano-silica is widely utilized to provide premium filler materials for various kinds of resins. As an improvement filler for concrete and other composite materials used in the construction industry, it is also used as a supplement for plastics and rubber. The construction industry's growing need for P-type nano-silica, the increase in residential and commercial buildings, and the growth of biomedical applications, including drug delivery, bioimaging, and adjuvant therapies, are the main drivers of this segment's revenue growth.
With Increased Tensile Strength, Demand for NanoSilica for Rubber Production to Increased
The second-most abundant element in the earth's crust, silicon, is a component of nano-silica, sometimes referred to as silicon dioxide nanoparticles or silica nanoparticles. The demand for nano silica is rising, which is boosting the market for it. Nanosilica is increasingly used as an additive in different types of rubber, such as silicone rubber, natural rubber, styrene-butadiene rubber (SBR), nitrile rubber (NBR), ethylene propylene diene monomer (EPDM), and ethylene acrylic rubber (AEM). By serving as a reinforcing agent, nano silica is utilized to strengthen vulcanized rubber's mechanical properties. Nanosilica can also boost natural rubber's tensile strength from 0.35 MPa to 14 MPa. These factors have increased the need for nano-silica, which is growing its market.
Nano Silica Market : Regional Landscape
Asia Pacific to Acquire Largest Market Share due to Growing Production of Rubber
The Asia-Pacific region is anticipated to lead the nano-silica market during the forecast period. The need for nano-silica has been rising in regions like China and India due to rising demand from end-user sectors like rubber, coatings, electronics, healthcare, and agriculture. The mechanical qualities of rubber, such as anti-friction, anti-aging, durability, and toughness, are enhanced by using nano-silica in the rubber business. In 2020, China generated about 688,000 metric tonnes of natural rubber. As a result, the region's need for nano-silica in the rubber industry is growing. The rubber application section is the largest, followed by the coatings segment. With its extensive application in super hydrophobic coatings, nano silica is becoming increasingly popular in the coatings industry. In Japan, there were 2.92 million workers involved in mining and construction in 2020. Therefore, with the increase in construction activity in the nation, the demand for coating will increase, fueling the growth of the regional market.
Furthermore, nano silica is used in nano-fertilizers to improve nutrient uptake, lessen environmental effects, and increase plant yield. During the forecast period, farmers' increasing knowledge of the benefits of utilizing nano-fertilizers to raise crop yields, reduce fertilizer waste, and lower cultivation expenses are anticipated to increase demand for nano-silica in the agricultural sector. The aforementioned elements and government assistance are causing the demand for nano-silica to rise throughout the projection period.
The greatest revenue share in the global market for nano silica in 2021 was accounted for by North America. Growing demand for silica nanoparticles in the construction, healthcare, automotive, electronics, cosmetics, agricultural, rubber, and plastics industries is one of the key drivers influencing regional market revenue development. According to the US Census Bureau, a total of 1,366,697 residential and non-residential structures were created across the United States in February 2020, compared to 1,288,951 buildings constructed in 2019, representing a 6.03% increase in building development. Other significant factors influencing the growth of the North American market's revenue include an increase in residential and commercial construction activity, a rise in demand for high-quality, environmentally friendly rubber and plastic products, increased use in personal care and cosmetics products, an increase in consumer electronics sales, and the presence of major market players like NanoPore Incorporated and U.S. Research Nanomaterials in the region.
Global Nano Silica Market: Competitive Landscape
In July 2022, WACKER, based in Munich, launched a new silicone production facility in Panagarh, India. The plant, located 160 kilometers northwest of Kolkata, would produce silicone rubber and ready-to-use silicone compounds for electromobility, medical technologies, and electrical transmission and distribution. In April 2020, Cabot Corporation announced the completion of its previously announced $115 million acquisition of Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN). Cabot's Performance Chemicals Segment will absorb the business.
Few of the players in the Nano Silica Market include Evonik Industries, Akzonobel N.VCabot Corporation, Nanopore Incorporated., E. I. DU Pont De Nemours and Company, Nanostructured & Amorphous Materials, Inc., Fuso Chemical Co. Ltd., Dow Corning Corporation, Wacker Chemie AG, and Bee Chems.
Regional Classification of the Global Nano Silica Market is Described Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability
Key Elements Included In The Study: Global Nano Silica Market
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