Growing Demand for Nano Coatings Drives Global Nanosilica Market | Technavio

December 3, 2017

LONDON–(BUSINESS WIRE)–#Metals–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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