The desiccant and absorbent segment are anticipated to observe a higher CAGR due to increased applications in the pharmaceutical, food and beverage, oil and gas industry. The rising development in the biotechnology, especially in the emerging economies, is expected to drive the growth of the biopharmaceuticals, which, in turn, may fuel the demand for chromatographic Silica Gel. Moreover, the growing application in paints and coatings, steel refinery industry, and oxygen plants for removal of ethane from oxygen is positively impacting the market growth.
Silica Gel is used in the packaging of pharmaceuticals, cosmetic, and personal care products due to its excellent properties to absorb moisture and prevent product spoilage thereby increasing the shelf life of the product. Moreover, Silica Gel also has a wide application in water filtration facilities, petrochemical, and oil and gas industry.
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The Global Silica Gel Market has been driven by a range application in various sectors such as packaging of pharmaceuticals, food and beverages, and oil and gas among others. Moreover, it is estimated that the desiccant application segment is set to witness the highest growth in the market due to the growing consumption of Silica Gel in packaging, paint and coatings and electronics during the forecast period, 2017-2023.
Some of the prominent players operating in the Global Silica Gel Market are Evonik Industries (Germany), Clariant (Switzerland), Solvay (Belgium), Merck Group (Germany), China National Bluestar Company Limited (China), Fuji Silysia Chemical (China), Nissan Chemical Industries (Japan), DowDuPont (U.S.), Qingdao Haiyang Chemical (China) and Millennium Chemicals (U.S.) among others.
The Global Silica Gel Market is segregated into the Product Type, Application Type and End-Use.
On the basis of the Product Type, the market is further categorized into type A, Type B, Type C, Silica-alumina gel, and other segments.
On the basis of the Application Type, the market is segmented into desiccant, chromatography, food additives, water filtration, and other segments.
On the basis of the End-User, the market is classified as oil and gas, pharmaceutical, petrochemical, cosmetic and healthcare, others.
The Global Silica Gel Market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, North America holds the major portion of the global market and is anticipated to continue its dominance due to rising demand for silica gel from various developed end-user industries such as pharmaceuticals and healthcare. Moreover, the encouraging government regulations and investments in the healthcare and food and beverage are expected to contribute to the growth of the market. Asia Pacific is the fastest growing market and is expected to grow at the higher CAGR during the forecast years. The growing GDP coupled with the increasing government investment has augmented various end-user industries such as pharmaceuticals, cosmetic and health care, which is boosting the market demand for silica gel in the developing economies in the region.
The European region is estimated to witness a significant growth in the countries owing to the presence of the well-developed cosmetic and personal care industry. The excellent properties of silica gel for absorbing moisture has paved the way to the packaging of cosmetics and electronics industries among others. Thus, it is creating immense demand for the product.
The Middle East & Africa is estimated to observe a considerable growth due to increasing consumption of Silica Gel in their dominant oil and gas and petrochemical industry. The favorable government participation and the expansion of oil field in the region is the driving factor of the market.
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