The global silica sol market is valued approximately at USD 840 million in 2023 and is anticipated to grow with a healthy growth rate of more than 5.12 % over the forecast period 2024-2032. Silica sol is a dispersion of amorphous silicon dioxide (silica) particles in water. By polymerizing silica nuclei from silicate solutions under alkaline circumstances, nanometer-sized silica sols with a high surface area are generated. The surface of the silica nanoparticles is then charged, causing them to repel one another and form a stable dispersion, or colloid. Various grades of colloidal silicas differ in characteristics, with particle size distribution ranging from narrow to broad, and stable pH values typically between 8.0 and 10.5. Colloidal silica can also be manufactured with a stable positive surface charge in the acidic pH range, achieved by altering the particle's surface with aluminum and stabilizing its charge using chloride anion. Silica sol continues to gain popularity as the preferred abrasive in chemical mechanical planarization (CMP) applications due to its main characteristics, which include high stability and tunable particle size distribution. Recent research efforts aimed at developing colloidal materials with modifiable chemical and physical properties may pave the way for profitable opportunities in the silica sol business.
There has been a significant increase in the use of silica sol in the automotive sector for the production of tires with decreased rolling resistance to enhance vehicle control and fuel economy. Additionally, the rising popularity of eco-friendly tires bodes well for global sales of colloidal silica. Government regulations governing the use of protective coatings have increased the automotive sector's usage of green coatings, which continues to boost the silica sol market. According to the International Organization of Motor Vehicle Manufacturers, the production of automobiles increased from $77 million in 2020 to $80 million in 2021. An increase in automobile production is expected to drive the demand for silica sol in the automotive industry, thereby propelling the global silica sol market.
The key region in the Silica Sol Market includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2023, Asia Pacific emerged as the dominant force in the Silica sol market, poised to sustain rapid growth through the forecast period from 2024 to 2032. The region's dominance can be attributed to several factors, including robust industrialization, expanding construction activities, and increasing demand across key end-user industries such as electronics, healthcare, and personal care products. Countries like China, India, Japan, and South Korea are pivotal in driving this market growth, supported by investments in infrastructure development and manufacturing sectors. The versatile applications of silica sol in areas such as coatings, catalysts, adhesives, and healthcare products further propel its demand in the region.
Major market players included in this report are:
ADEKA CORPORATION
AMS Applied Material Solutions
Cabot Corporation
Ecolab Inc.
Evonik Industries AG
Gelest, Inc.
Merck KGaA
Nissan Chemical Corporation
Sterling Chemicals
W. R. Grace & Co.-Conn.
Nouryon
Visa Chemical Industries
Qingdao FSK Foundry Materials CO., LTD
Nalco Holding Company
AkzoNobel N.V.
The detailed segments and sub-segment of the market are explained below:
By Application:
Binder
Surface Modification
Flocculant
Catalyst
Others
By End Use Industry:
Chemicals
Foundry
Pulp and Paper
Plastics
Electrical and Electronics
Textile
Others
By Region:
North America:
U.S.
Canada
Europe:
UK
Germany
France
Spain
Italy
ROE
Asia Pacific:
China
India
Japan
Australia
South Korea
RoAPAC
Latin America:
Brazil
Mexico
Rest of Latin America
Middle East & Africa:
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.