Top Factors Driving the Global Silica Fume Market| Technavio

LONDON–(BUSINESS WIRE)–#Research—Technavio
market research analysts forecast the global
silica fume market to grow at a CAGR of over 4% during
the period 2018-2022, according to their latest report.

This market research report segments the global silica fume market into
the following applications, including construction, marine, and oil and
gas and key regions, including the Americas, APAC, and EMEA.

In this report, Technavio highlights the use of silica fume in
self-compacting concrete (SCC) as one of the key emerging trends driving
the global
silica fume market. SCC is described as a concrete mix that can
be placed completely by means of its own weight and with little or no
vibration. SCC, as a high-performance concrete, delivers attractive
benefits while maintaining the concrete's durability and mechanical
characteristics. SCC mix can be sensitive to fluctuations in material
properties and batching accuracy, leading to issues of segregation.

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In this report, Technavio analysts highlight the growth of the building
and construction sector as a key factor contributing to the growth of
the global
silica fume market:

Growth of the building and construction sector

By 2020, the global construction industry is estimated to generate a
revenue of USD 10.3 trillion. Regions such as APAC has the highest
number of emerging economies such as Indonesia, China, India, Japan, and
the Philippines. Additionally, in terms of infrastructure and
development, Vietnam and Malaysia are considered potential emerging
markets. Such emerging markets compete for the development of
high-quality infrastructure. In Europe and North America, the quality of
infrastructure is considered good, showing the proper coordination and
proper planning between the public and private sector players. Such
factors aid in attracting investments from other countries to help the
rehabilitation and reconstruction of existing structures.

According to a senior analyst at Technavio for specialty
chemicals, “The increased usage of silica fumes to produce
concrete to improve its properties will drive growth in the construction
industry, which, in turn, will drive growth in the global silica fume
market during the forecast period. In emerging markets, the construction
industry is expected to grow at a faster rate than the advanced
economies due to the increase in residential projects, where population
growth has been increasing over the last few years.”

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Global silica fume market segmentation

Of the three major applications, the construction segment held the
largest market share in 2017, accounting for nearly 39% share. The
market share for this application is expected to decrease nearly 2% by
2022. The fastest growing application is oil and gas, which will account
for nearly 21% of the total market share by 2022.

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