The Fumed Silica Market size is projected to grow from USD 1.3 billion in 2021 to reach USD 1.6 billion by 2026, at a CAGR of 5.1% during the forecast period. The fumed silica market is expected to witness significant growth in the coming years due to its increased demand across the building & construction, electrical & electronics, automotive & transportation, personal care & beauty, food & beverage, and pharmaceutical industries.

Building & construction dominated the fumed silica market in 2020, in terms of value and volume.
The building & construction end-use industry accounted for the largest share for fumed silica in 2020, in terms of value and volume. Increasing construction activities, coupled with rapid urbanization and industrialization in emerging economies, are leading to the rise in demand for fumed silica in the building & construction industry.

The APAC region is projected to account for the largest share in the fumed silica market during the forecast period.
The APAC region is projected to lead the fumed silica market in terms of both value and volume from 2021 to 2026. This region is witnessing the highest growth rate due to the rapid economic expansion. According to the IMF, China and India are among the fastest-growing economies globally. India is expected to overtake China with the highest growth rate, thus driving the global economy. The rising disposable income of people, shifting of manufacturing facilities from developed regions, such as North America and Europe, and rapidly growing industrial sectors are expected to drive the market in APAC0.

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Evonik Industries (Germany), Cabot Corporation (US), Wacker Chemie AG (Germany), Tokuyama Corporation (Japan), and Applied Material Solutions Inc. (US), amongst others, are the key players operating in the fumed silica market.

New product launches and Investments & expansions accounted for the largest share of all the strategic developments that took place in the fumed silica market between 2015 and 2021. Key players such as Evonik Industries, Cabot Corporation and Wacker Chemie AG adopted these strategies to enhance their business, market presence, and meet consumer demand.

Evonik Industries is one of the leading players in specialty chemicals and a dominant manufacturer of fumed silica. The company operates globally through five business segments: Nutrition & care, smart materials, specialty additives, performance materials, and service segment. Evonik offers fumed silica through its smart materials business segment. The company offers fumed silica products under the brand name—AEROSIL. The products under this brand serve various end-use industries, such as paints, coatings, modern adhesive systems, transparent silicones, and non-combustible high-performance insulating materials. Evonik Industries has a global presence with an operating base situated in Germany. The company is active in over 100 countries globally with a production base in 27 countries and an R&D facility in 37 locations.

Wacker Chemie AG is one of the leading manufacturers of specialty silica that operates through five major business segments: silicones, polymers, polysilicon, biosolutions, and others. The company offers fumed silica products through the silicones segment under the brand HDK. Under this brand, Wacker Chemie AG manufactures both hydrophobic and hydrophilic fumed silica. These products can be used in accumulators, composites, printing inks, developers, paints, joint fillers, animal feeds, insulating gels, and many more. Wacker Chemie AG has experience of more 100 years, along with a base of 52 sales offices in 32 countries globally. It has 26 production capacities located in 11 countries across the globe.
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