The global silicon dioxide market is valued at US$ 11.8 billion in 2023 and is expected to attain US$ 22.5 billion by the end of 2033, growing at a CAGR of 6.6% during the next decade. In recent years, the global silicon dioxide market has received continuous traction owing to its wide usage in various industry verticals such as electronics, construction, and automotive. Silicon dioxide, generally referred to as silica, is a naturally occurring compound usually found in quartz and other minerals. It is one of the vital constituents in manufacturing processes due to its mechanical strength, stability, and electrical properties.
Get Free Sample Copy of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=8514
Market Drivers
Growing Demand in Electronics and Semiconductors: The electronics industry has come out to be one of the key drivers for the demand of silicon dioxide. It finds broad application in the making of semiconductors, one of the most crucial materials in modern electronic gadgets such as smartphones and laptops. This demand is driven by increased usage of silicon carbide-based semiconductor technologies, especially in areas related to electric vehicles, 5G networks, and renewable energy sources. Silicon carbide is lighter compared to traditional silicon semiconductors and offers superior performance at high temperature and voltage with high frequency.
Construction Boom in Emerging Economies: Growth in the silicon dioxide market is also contributed by the boom in the building sector, particularly in swiftly expanding economies like China and India. Indeed, nano-silica-based concrete contains a number of favorable properties compared to conventional concrete. Large-scale infrastructure development, such as housing and smart city projects, will accelerate the demand for concrete and, subsequently, silicon dioxide nanoparticles over the coming years. The Chinese government intends to invest over $1 trillion by 2025 for the purpose of infrastructure development in order to meet demand for high-performance concrete.
Sustainability and Green Technologies: Environmental sustainability has cropped up as a budding issue in the manufacturing industry. Besides that, the automobile industry is also keenly concentrating on "Eco-friendly tires" that use silica to contribute to reducing the rolling resistance and improving fuel economy. The trend will drive silicon dioxide consumption, more so in regions like North America and the Asia-Pacific, where changes are taking place in the automobile industry towards eco-friendly technologies.
Packaging and Pharmaceuticals: Silica gel is also used in packaging due to the moisture-absorbing properties of silicon dioxide. It is used to preserve the integrity of pharmaceutical products, electronics, and other sensitive items. Recent growth in e-commerce and demand for packaged goods, especially in the United States, has been a growth driver in this sector, which in turn drives the market. As more consumers turn towards greener and more sustainable options, demands for chemical-free silicon dioxide products are on the rise.
Key Companies Profiled
- Evonik Industries AG
- Gelest Inc.
- Merck KGaA
- Metallic Minerals
- Tosoh Silica Corporation
- Cabot Corporation
- American Elements
- Wacker Chemie AG
- Topken Materials
Market Challenges
Availability of Alternatives: Despite all the optimism, the silicon dioxide market is indeed under threat due to increasing favoritism towards its alternatives. For example, in the oil and gas industry, ordinary silica sand is currently being replaced by highly effective proppants such as ceramic and resin-coated sands that give far superior performance under high-pressure situations. This could presumably have an effect on the rate at which silica is consumed in certain sectors.
Health and Safety Issues: Long-term exposure to silicon dioxide-especially when in crystalline form-can be hazardous to health, causing problems especially to do with respiration. This has resulted in more stringent regulations concerning exposure levels in industries such as glass making and mining, wherein workers are often in contact with inhalable fumes containing minute silica. Companies dealing in these industries are, therefore, investing a great deal in research and development for the production of safer, non-crystalline forms of silicon dioxide.
Regional Insights
The Asia-Pacific region is considered one of the leading regions in the global silicon dioxide market because of the boom in the construction and electronics sectors it has embarked on. China will likely dominate the market due to its mega infrastructure projects and because the country serves as the manufacturing hub for most electronic products manufactured globally. India, on its part, is predicted to be one of the contributors due to its construction industry, which is forecasted to invest a lot in housing projects over the next decade.
North America: North America continues to be one of the major markets for silicon dioxide, especially for the automotive and oil and gas industries. Hydraulic fracturing or fracking has been the significant driver for the demand of silica in recent years, hence surging the growth of the market in the region. Besides, the excellent attention to green technologies will continue to have a good influence on the demand for silica in the automotive industry, such as fuel-efficient tires.
Get Customization on this Report for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=RC&rep_id=8514
Silicon dioxide is consumed in large quantities by the automotive and glass industries. Germany is the leading country in the manufacture of automobiles. Silica is immense in the making of automobile glasses and casting molds. The focus on innovation and sustainability development only further retains its strong demand for high-purity silica.
Outlook
The demand for silicon dioxide will be highly inmost industries, including electronics, construction, and automotive. However, the future of the sector will also depend on the ability of companies to tackle challenges in response to health risks, changing regulations, and increasingly available alternatives. It is expected that emerging technologies and the movement toward green manufacturing will define the future stages of evolution in the silicon dioxide market.
The future course of the market, despite being beset with many challenges, would probably be quite positive considering its manifold applications and high demand from strategic industries.
About Fact.MR :
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400 Rockville, MD 20852
United States Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com
