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Growing Demand for Nano Coatings Drives Global Nanosilica Market | Technavio

LONDON--(BUSINESS WIRE)--The global nanosilica market is expected to grow at a CAGR of close to 8% from 2017-2021, according to a new market research report by Technavio.

Global nanosilica market segmentation by product and application

Technavio’s report on the global nanosilica market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by product, including P-type nanosilica, S-type nanosilica, and Type 3 nanosilica. As projected in 2016, around 49% of the market share originated from P-type nanosilica. P-type nanosilica has gained attention in drug delivery systems for a wide range of pharmaceuticals and therapeutics due to its biocompatibility, easy surface chemical modification, and control of the release of the drug content. Rising use of porous nanosilica in concrete mixtures due to its small size will drive the market during the forecast period.

Based on application, the global nanosilica market has been segmented into rubber, coatings, healthcare and medicine, plastics, agriculture, and concrete. The global nanosilica market in rubber accounted for the maximum market share in 2016, and it is estimated to dominate during the forecast period. Nanosilica is used to enhance the properties of various rubbers such as natural rubber, ethylene acrylic rubber (AEM), nitrile butadiene rubber (NBR), styrene butadiene rubber (SBR), and silicone rubber.

“Nanosilica acts as a reinforcing agent that improves the mechanical strength of vulcanized rubber. Induction of silicon dioxide in natural rubber or synthetic rubber improves its thermal resistance and young modulus of the natural rubber nanocomposites. Nanosilica-reinforced tires decrease the greenhouse gas emissions from vehicles. The use of nanosilica fillers in the tires enhances its thermal, electrical, and optical resistivity and flame retardancy,” says Kurva Samba Sivudu, a lead analyst at Technavio for metals and minerals research.

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Global nanosilica market: competitive vendor landscape

The global nanosilica market is moderately concentrate. It has the presence of some multinational and regional vendors. In 2016, APAC secured the highest share in the global nanosilica market. The major vendors in this concentrated market are Akzo Nobel, Cabot Corporation, DuPont, Evonik, and FUSO CHEMICAL. The threat of competition among the existing players will remain high because of the increasing investments in R&D to make their products more innovative. Recently, Cabot Corporation announced to build a world-class nanosilica fumed plant in Carrollton, Kentucky. With the onset of this new plant, it will be able to meet the rising demand for fumed silica market.

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Other topics covered in the report:

Market drivers:

  • Growing demand for nano coatings
  • Rising demand from electronics

Market challenges:

  • Toxic effects of nanosilica
  • Stringent regulations on nanomaterials

Market trends:

  • Rising demand from the rubber industry
  • Technological advances in production process

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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This project has received funding from the European Union Seventh Framework Programme (FP7/2007-2013) under grant agreement n° [609149].

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