Ultrafine Silica Fumes Market Size, Share, Growth and Industry Analysis by Type (Densified Silica Fume, Semi Densified Silica Fume, And, Undensified Silica Fume) By Application (Concrete, Refractory, And, Others), Regional Insights, and Forecast From 2023 To 2030

Updated On: 20 November 2023

Ultrafine Silica Fumes Market Report Overview

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The global ultrafine silica fumes market size was US$ 733 million in 2022. As per our research the market is expected to generate US$ 895.8 million by 2028 with a CAGR of 3.4% during the forecast period.

Ultrafine silica fumes are also known by the name microsilica. These are formed as a by product during the production of silicon, as well as ferrosilicon alloys. There are called as ultrafine as they are made up of extremely small particles. They are used in the construction industry and have a high demand in the market.

High performance concrete is in high demand in the market, especially in the construction sector. As ultrafine silica fumes are used in production of concrete, the demand for the market is very high.  This is considered as the latest trend in the market.

Ultrafine silica fumes are considered to be the key ingredients for increasing the strength of infrastructures. They are also an important part in specialty coatings These factors have favored the ultrafine silica fumes market growth.

COVID-19 Impact: Increasing Demand for Hygiene Products During Pandemic Increased Market Growth

The pandemic of COVID-19 led to the decline in the performance of almost all the markets worldwide. Most of the industries had to halt their operations as they faced several difficulties in continuing their trade. Insufficient working capital, shortage of labor, fluctuating prices of raw materials, and strict protocols regarding social distancing norms created unfavorable conditions for the market to function in.

However, the ultrafine silica fumes market experienced a positive impact during the pandemic, as they are used in the production of personal protective equipments, as well as disinfectants, and sanitizers. Disinfectants and sanitizers had a lot of demand during the pandemic. Therefore, the market experienced considerable growth even during the period of pandemic.

LATEST TRENDS

"Rise in Demand for High Performance Building Materials to Increase Market Growth"

Several developing economies are undergoing rapid development, globalization, and, urbanization. With the help of technology, the infrastructure sector is experiencing tremendous growth. Contractors, and builders all over the world are taking up more and more construction projects. Therefore, the construction market is experiencing a boom.

This has created many lucrative growth opportunities for the market. With the increasing number of construction projects being taken up the demand for high performance concrete and building material has increased. Ultrafine silica fumes are used in the production of important construction materials. This is considered as the latest trend in the market.

Ultrafine Silica Fumes Market Segmentation

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• By Type:

The market can be divided on the basis of type into the following segments:

Densified silica fume, semi densified silica fume, and, undensified silica fume. The densified silica fume segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Concrete, refractory, and, others. The concrete segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Implementation of Silica Fumes in Electronic Industry to Accelerate Market Growth"

Silica fumes have the capability of performing several functions efficiently and hence they are adopted in several industries. They are used in the construction sector as they help in improving the durability, stability, and strength of the buildings being constructed. Ultrafine silica fumes are considered to be the key ingredients for increasing the strength of infrastructures.

These silica fumes are also adopted in the electronics industry. They are highly useful in the manufacturing of electronic materials, and advanced composite components. There are considered suitable for this as they exhibit properties such as low thermal expansion, high electric conductivity, and, high surface area. All of these factors have contributed in increasing the growth and development of the market.

"Necessity of Lightweight Materials in Automotive Industry to Propel Market Growth "

Both automotive and aerospace industries require lightweight components for manufacturing their final product. The final module that is prepare can be efficient only if it is made up of strong, and lightweight components. Such strong and lightweight components can be manufactured using ultrafine silica fumes.

Specialty coatings are in high demand in many sectors such as aerospace, gas, and oil industries. Silica fumes are an important part in these coatings as they help in improving the adhesion, resistance to corrosion, and mainly hardness. Solar cells, energy storage devices, and solar cells also make use of these fumes in their production. All of the above-mentioned factors have favored the rapid growth of ultrafine silica fumes market share.

RESTRAINING FACTOR

"Health Risks Associated with Exposure to Silica Dust to Bring Down Market Growth"

Despite the versatility exhibited by silica fumes, it also has certain limitations that can hamper the market growth and hare. One such factor is the constant, and regular exposure to silica dust. This can lead to several health problems over a period. Health risks that are associated with exposure to silica dust can limit the market growth.

While handling this material several precautionary measures have to be exercise. Apart from this, the easy availability of a cheaper substitute such as fly ash can deteriorate the demand for silica fumes. These fumes are also considered too expensive when compared to their alternatives. These factors are restraining the growth of the market.

Ultrafine Silica Fumes Market Regional Insights

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"Asia Pacific to Dominate Market in Upcoming Years"

Currently, Asia Pacific is identified as the region with the largest hold of the market share. Several favorable factors are prevailing in the market helping the rapid growth of market in Asia Pacific. The major reason for the rapid growth of Asia Pacific in this market is the increasing number of construction projects being taken up.

Similarly, Asia Pacific, is also a top exporter of products from the electronics, ceramics, and automotive, and aerospace sector. This has benefitted the silica fumes market as it forms an integral material of all these sectors. These factors have helped in increasing the market share in Asia Pacific.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Elkem (Blue Star) (Norway)
• Globe Specialty Metals (Ferroglobe) (U.S.)
• FerroAtlántica (Ferroglobe) (Spain)
• Finnfjord (Norway)
• RW Silicium GmbH (Germany)
• Wacker (Germany)
• CCMA (China)
• Fesil (Norway)
• Washington Mills (U.S.)
• DuPont (U.S.)
• Simcoa Operations (Australia)
• Elkon Products (Canada)
• OFZ, a.s. (Slovakia)
• Minasligas (Portugal)
• Erdos Metallurgy (China)
• Wuhan Mewreach (China)
• WINITOOR (China)
• East Lansing Technology (U.S.)
• Lixinyuan Microsilica (China)
• All Minmetal International (China)
• Blue Star (China)
• QingHai WuTong (China)
• Sichuan Langtian (China)
• Jinyi Silicon Materials (China)
• Renhe (China)
• Linyuan Micro-Silica Fume (China)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. The report also covers the list of key market players included in the market to get an idea of the competition in the market.