Asia Pacific Colloidal Silica Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Product Type (Alkaline, Acidic, Modified, and Ordinary) and Application (Pulp and Paper, Building and Construction, Paints and Coatings, Electronics and Sem

Asia Pacific Colloidal Silica Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Product Type (Alkaline, Acidic, Modified, and Ordinary) and Application (Pulp and Paper, Building and Construction, Paints and Coatings, Electronics and Semiconductors, Pharmaceutical, Investment Casting, and Others)

The Asia Pacific colloidal silica market was valued at US$ 338.4 million in 2021 and is projected to reach US$ 525.0 million by 2028; it is expected to grow at a CAGR of 6.5% from 2021 to 2028.

Colloidal silica is a stable suspension of spherical silicon dioxide nanoparticles in a liquid, which are hydroxylated on the surface. It is highly used in producing beverages such as wine or beer. The diverse application of colloidal silica in various industries, including automotive, paints & coatings, and electronics & semiconductors, has widened the market scope of colloidal silica in the near future. Asia Pacific is one of the major regions for automotive manufacturing across the globe. Colloidal silica is used as a casting application for manufacturing automotive casting in this industry. Also, colloidal silica is an essential component in making sol silicate paint. It is used in combination with potassium silicate as the major binder in manufacturing sol silicate paint. The major factor driving the colloidal silica market growth in the Asia Pacific region is a surge in usage of colloidal silica in paints & coatings and automotive industries. Additionally, there is a high demand for colloidal silica from the electronics & semiconductor industry, which is further driving the Asia Pacific colloidal silica market. For instance, colloidal silica is used in lead-acid batteries to make a solid electrolyte. However, the decline in the textile industry in the region due to the COVID-19 pandemic has further decreased the demand for colloidal silica. Various factors such as labor cost, weather, and demand and supply, fluctuations in raw material prices create an adverse impact on market growth.

The Asia Pacific colloidal silica market has been segmented based on product type into alkaline, acidic, modified, and ordinary. The alkaline segment held the largest share in the Asia Pacific colloidal silica market in 2020. Alkaline colloidal silica is nanometer-sized silica sols with a high surface area that is formed under an alkaline solution by polymerizing silica nuclei from silicate solutions. The alkaline colloidal silica has high binding strength compared to other product types. It is mostly the preferred product type due to its wide variety of applications in industries such as paints & coatings and building & construction. The rapidly growing building and construction industry, especially in emerging economies such as India, Indonesia, Japan, and Vietnam, has created lucrative opportunities for the colloidal silica market.

Based on country, the Asia Pacific colloidal silica market has been segmented into Australia, China, India, Japan, South Korea, Indonesia, Taiwan, Thailand, Vietnam, and the Rest of Asia Pacific. In 2020, China held the largest revenue share of the Asia Pacific colloidal silica market. China is a highly developing country with large-scale manufacturing and industrialization. The country has high volumes of colloidal silica manufacturing as well as consumption. The country is experiencing significant growth in the investment casting industry, which is directly boosting the demand for colloidal silica. Therefore, the country is leading in the consumption of colloidal silica.

Nouryon; Nissan Chemical Corporation; Jinan Yinfeng Silicon Products Co., Ltd.; FUSO CHEMICAL CO., LTD.; YOUNG IL CHMICAL CO., LTD.; Zhejiang Yuda Chemical Co., Ltd.; Dr. Khan Industrial Consultants Pvt. Ltd. ( DKIC); GuangDong Well-Silicasol Co., Ltd; Qingdao Hai Wan Chemical (Group) Co., Ltd.; and BeeChems are among the major players operating in the Asia Pacific colloidal silica market. Players operating in the Asia Pacific colloidal silica market are adopting different strategies, such as investments in research and development activities and new product launches, to stand out as strong competitors in the market. Market players are highly focused on the development of high-quality and innovative product offerings to fulfill customers’ requirements.

The size of the overall Asia Pacific colloidal silica market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Asia Pacific colloidal silica market.

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