Kenneth Research has released a report titled “Colloidal Silica Market: Global Demand Analysis & Opportunity Outlook 2031” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
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In the year 2018, the single-family residential construction spending recorded around USD 270 Billion. Additionally, in the same year, the construction spending worldwide in the private sector reached close to USD 990 Billion. Moreover, the construction costs are expected to rise on average of about 5%.
The statistics portray the growing construction industry around the globe, and therefore the increasing need for different types of construction materials. Colloidal silica is one such chemical compound which is used for the densification of concrete, cement and other construction materials. As a result, with the growing demand for different for different construction materials globally, the need for colloidal silica is also projected to increase, and therefore contribute to the market growth.
The global colloidal silica market is anticipated to grow with a CAGR of 4.5% during the forecast period, i.e., 2022-2031. The market is estimated to garner a revenue of USD 1558.8 Million by 2031. Moreover, in the year 2021, the market generated a revenue of USD 1001.1 Million. The market is segmented by type into alkaline, acidic, modified, and ordinary colloidal silica. The alkaline colloidal silica segment, out of all the other segments, is projected to generate the largest revenue of USD 658.8 Million by the end of 2031. Additionally, the segment garnered a revenue of USD 430.4 Million in the year 2021.
By region, the global colloidal silica market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa, out of which, the market in the Asia Pacific is anticipated to garner the largest revenue of USD 674.2 Million by the end of 2031. Additionally, the market in the region generated a revenue of USD 411.0 Million in the year 2021.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
However, the high price volatility of the raw materials used in the manufacturing of the product, along with the stringent regulations & policies associated with the use of the product are predicted to hinder the market growth in the coming years.
This report also provides the existing competitive scenario of some of the key players of the global colloidal silica market, which includes company profiling of Evonik Industries AG, FUSO CHEMICAL CO., LTD., Nissan Chemical Corporation, Nouryon Chemicals Holding B.V., PPG Industries, Inc., Cabot Corporation, Ecolab Inc., W.R. Grace & Co., Merck KGaA, The Dow Chemical Company, ADEKA CORPORATION, Sterling Chemicals, Zhejiang Yuda Chemical Co., Ltd., and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Colloidal Silica Market: Global Demand Analysis & Opportunity Outlook 2031”, analyses the overall global colloidal silica industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global colloidal silica market in the near future.
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