Asia-Pacific To Hold The Lion's Share In The Fumed Silica Market

Increased consumer spending on healthy living and the rapidly growing pharmaceutical industry worldwide is the prime factor driving the fumed silica market . The increasing number of diseases, such as obesity, cancer, and Alzheimer's, in the world is accelerating the demand for fumed silica. Moreover, the increased awareness and high spending on nutraceuticals are projected to create demand for fumed silica.

The production of tablets and capsules is a significant challenge in the pharmaceutical industry. Fumed Silica aids to improve the flow properties of powders, and its lower level of moisture balances the compounds. Hydrophilic is the most commonly used fumed silica in the pharmaceutical industry.
The demand for the fumed silica is expected to grow at an unprecedented rate in the European region, owing to its strong medical industry. The large investments of the pharma companies in the region and the availability of advanced technology are strengthening the pharmaceutical market.

Impact of COVID-19

The coronavirus outbreak has impacted several industries across the globe. However, some industries are showing good growth, such as the medical and healthcare industries. Numerous industries are labor-intensive, and the production of such companies has decreased due to government orders for shutting various operations. The demand for fumed silica is expected to remain steady from the pharma industry while being largely affected by other applications.

With government guidelines for lockdown and social distancing norms, the manufacturing companies worldwide are operating with half of their workforce capacities. Moreover, the sealing of international borders has led to supply chain disruptions. These factors are expected to limit the revenue of the fumed silica market during the forecast period.

Key Highlights

• The fumed silica market is expected to grow with a lucrative CAGR of xx%, owing to its rheological and reinforcement properties used in several applications
• The hydrophilic fumed silica segment holds the highest market share of about 20–30% on account of its applications in an array of industries, such as food and beverage, pharmaceutical, and cosmetics
• Asia-Pacific to dominate the fumed silica market, strongly supported by the burgeoning construction sector and the ever-growing population in the region.