The global market for silica gel is estimated to account for about US$ 505 Mn by the end of 2017 and registering a CAGR of 3.6% during the forecast period (2017–2025), is projected to reach a market value of about US$ 672 Mn by 2025 end.
Increasing demand for silica gel from the packaging industry in the Asia Pacific region
The packaging industry is growing rapidly as almost all the small and big enterprises are largely focusing on their logistics. Also, some sectors such as food, pharmaceuticals, electronics, etc. are putting higher impetus on ensuring the safety of their products. In order to protect their products from moisture, they use silica gel as a desiccant. Additionally, apart from pharmaceuticals and food, the electronics industry can also be considered as an emerging market for silica gel. The number of electronics enterprises is increasing rapidly in some countries such as China, Japan, India, etc. and therefore, the demand for silica gel for the packaging of electronic devices is increasing.
Growing pharmaceutical industry will drive the demand for silica gel in the Asia Pacific region
The rising growth of biotechnology is expected to increase silica gel demand over the forecast period. Within the pharmaceutical industry, silica gel column chromatography is helpful in collecting or segregating different components of a drug. This technique is also employed for researching various medicines such as local anesthetics, sedatives, hypnotics, analgesics and steroids. Increase in demand for medicines, especially in emerging economies such as India and China is projected to drive biopharmaceuticals demand, which in turn will boost the growth of the chromatographic silica gel market during the forecast period.
Availability of substitutes of silica gel hampering market growth in the Asia Pacific region
The availability of substitutes such as activated alumina, activated clay, activated charcoal, and molecular sieves is restraining the silica gel market. The usage of silica gel is limited to some end-use applications, whereas its substitutes are used in many applications such as bioterrorism, biohazard and gas and liquid dehydration applications, due to their low cost. As a consequence of their versatile applications and relatively low cost, customers often prefer these alternatives over silica gel. For instance, activated alumina is versatile, easy to use, affordable, and offers superior pH stability. Also, it can be used for reverse phase chromatography and is stable and suitable for high-temperature HPLC. Furthermore, unlike silica, it does not break down.
Global Silica Gel Absolute $ Opportunity Analysis – By Application
Increasing application of fragrance silica gel
As the number of homes increase owing to urbanization, awareness related to keeping the air fresh and clean within homes is also increasing. Additionally, cabs, cars, etc. must also be maintained, cleaned and refreshed on a regular basis to provide a comfortable and fresh environment for people opting to use them for traveling. The popularity of fragrance silica gel is growing as it creates a suitable and comfortable environment and thus also enhances work efficiency.
Increasing consumption of pharmaceutical drugs as well as nutritional products in developed and emerging countries is leading to increasing demand for better and safe transportation of products from various industries like food & beverages, pharmaceuticals, agriculture etc. This, in turn, is expected to turn out as a driving factor for the global silica gel market. Substantial growth in the packaging sector has led to a healthy growth in GDP worldwide. This has also had a positive impact on global spending on safe transportation of goods, (i.e. moisture free) thus eventually impacting demand for silica gel.
Why should you invest in this report?
If you are aiming to enter the global silica gel market, our report titled “Silica Gel Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025” is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for silica gels are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2017-2025, so that you can plan your strategies to enter this market accordingly. Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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Introduction: This section includes:
Global market analysis and forecast: This section of the report highlights:
Regional market analysis and forecast: This section focuses on:
Competitive landscape: The last section of the report presents:
In this report, historical data, primary responses and public domain data has been thoroughly analyzed to infer the market size. Revenue of companies operating in the global silica gel market has been benchmarked to ascertain the market size for the base year. Macroeconomic indicators such as GDP and industry growth have been considered to determine the market size for the forecast period. The historical growth trend of end-use industries, market participants’ performance, as well as the present macro-economic outlook has been taken into consideration for estimating the overall market trend forecast. This data is then validated using the triangulation method and is extensively scrutinized using advanced tools to garner quantitative and qualitative insights into the global silica gel market.