The Fumed Silica Market size is estimated at 305.28 kilotons in 2024, and is expected to reach 386.47 kilotons by 2029, growing at a CAGR of 4.83% during the forecast period (2024-2029).
The market was negatively impacted by the COVID-19 pandemic in 2020. Construction and automotive manufacturing activities were on a temporary halt due to the pandemic. This minimized the demand for additives used in the formulation of products such as adhesives, paints, coatings, plastics, and composites, negatively impacting the market demand for fumed silica. However, the market retained its growth trajectory last year due to all the industries resuming production processes.
The fumed silica market is mostly consolidated. The major players (not in any particular order) include Evonik Industries AG, Cabot Corporation, Wacker Chemie AG, Tokuyama Corporation, and OCI COMPANY Ltd, among others.
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