Global Nano Silica Market 2023-2030

Global Nano Silica Market 2023-2030

Global Nano Silica Market Size, Share & Trends Analysis Report by Product (S-Type, P-Type, and Type III Nano Silica), and by Application (Rubber, Plastics, Concrete, Electronics, Healthcare, and Others), Forecast Period (2023-2030)

The global nano silica market is anticipated to grow at a CAGR of 6.9% during the forecast period (2023-2030). Silica is a naturally occurring mineral that is found in sand, quartz, and other rocks. Nano silica is a type of silica that has been reduced to very small particles (less than 100 nanometers in diameter). It is produced by breaking down silica into smaller particles. Due to its high surface area-to-volume ratio and dispersibility, it is used in developing multiple products such as concrete, plastics, polymers, and electronics, which is the primary factor supporting the market growth.The nano silicon market is expected to grow in upcoming years owing to factors such as growing demand from end-user industries such as rubber, construction, healthcare, and technological advancements in nano silica materials.

Segmental Outlook

The global nano silica market is segmented by products and applications. Based on product, the market is sub-segmented into S-type nano silica, P-type nano silica, and type III nano silica. Based on application, the market is sub-segmented into rubber, plastics, concrete, electronics, healthcare, and other applications such as agriculture, cosmetics, and coatings. Among the applications, the demand for nano silica is expected to grow in construction materials such as cement, and concrete among others. Nano silica can improve the strength of concrete by filling in the voids between the cement particles and forming a gel that binds the particles together. This makes the concrete more dense and less porous, which makes it more resistant to cracking and other forms of damage. Apart from this, it also helps to improve the durability and workability of concrete. Globally, growing infrastructural developments are fueling demand for cement and concrete industry which will also drive demand for nano silica in the construction materials industry. According to the Global infrastructure outlook done in 56 countries, infrastructural investments are expected to grow from $2.9 trillion per year in 2023 to $3.8 trillion per year in 2040.

The Demand for Nano silica Is Expected to Grow Considerably in the Rubber Industry.

The nano silica is widely used in rubber manufacturing. The usage of nano silica helps to improve material properties such as tensile strength, elongation at break, and abrasion resistance of rubber. Additionally, it also helps to improve the lifecycle of rubber and reduce environmental impact. Globally, the demand for rubber is growing significantly mainly due to growing demand from the automotive industry. Additionally, the growing use cases of rubber in other markets including machinery, construction, aerospace, and healthcare industries, and technological advancements are also fueling the growth of this industry. The overall growth of the rubber industry is also driving demand for nano silica in this market and companies are using nano silica in their products. For instance, in May 2022, A tire manufacturer named ZC Rubber launched passenger car tires for the European market by the name Westlake ZuperAce Z-007 and the Goodride Solmax 1. The company used nano silica material in the product to improve grip and product lifecycle.

Regional Outlook

The global Nano silica market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these,

The Asia-Pacific Region is Expected to Grow Significantly in the Global Nano silica Market.

The Asia-Pacific region accounts for approximately 60% of the global population. With the growing population, regional food demand is also growing significantly. Additionally, the agricultural sector is one of the major contributors to regional economies such as China and India and is expected to grow. As per the third Advance Estimates of National Income, 2021-22 released by the National Statistical Office (NSO) of India, Ministry of Statistics & Programme Implementation, the agriculture, and allied sectors contributed approximately 18.6 % of India's GVA (Gross value added) at current prices during 2021-22. Although the regional agricultural sector has seen significant growth in recent years, it is also facing severe challenges such as drought and other natural calamities, soil degradation, volatile prices, and inadequate infrastructure linkage among others. To overcome these challenges the private and public sector in the region is focusing on smart agriculture by focusing on research and development and introducing better policies. For instance, in May 2023, The Indian Institute of Information Technology Bangalore (IITB) and the Indian Institute of Horticultural Research (IIHR) announced to be developing an automated greenhouse system using Internet of Things (IoT) sensors and Artificial Intelligence/Machine Learning (AI/ML) techniques to improve precision agriculture. The system, called AutoGrow, aims to optimize crop yield and resource usage based on real-time data.

Market Players Outlook

The major companies serving the Nano silica market include Alpha Nanotech Inc., BASF SE, CHOKO CO., LTD., Elkem ASA, and nanoComposix, Inc. among others.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global nano silica market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.