High purity silica, commonly known as fumed silica, is a synthetic amorphous silicon dioxide obtained by the vapor phase hydrolysis or oxidation of chlorosilanes. It has a very low concentration of impurities and is used as a reinforcing filler and thickening agent in various applications. The rising demand for high brightness displays and compact electronic devices has boosted consumption of fumed silica in electronic products such as smartphones, laptops, tablets etc.

The global high purity silica market valuation is estimated to reach US$8.64 Mn in 2024 and expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The growing demand from electronics and semiconductor industries remains the major driving factor for the high purity silica market. Fumed silica functions as a reinforcing filler and thickening agent in silicone adhesives, sealants and greases used in various electronic components such as printed circuit boards, LCDs and semiconductors. As the miniaturization trend continues in the electronics industry, demand for high purity silica is expected to surge significantly over the coming years. The ability of fumed silica to absorb moisture and ensure conductivity at minute levels has increased its importance in applications involving microelectronics and wafer processing. Moreover, its excellent reinforcing properties allow for production of compact electronics with enhanced performance. This rapidly expanding electronics sector will continue to propel demand for fumed silica during the forecast period.

SWOT Analysis

Strength: High purity silica has unique properties that allows its use in various end-use industries such as electronics, healthcare, food and others. It has high purity levels and offers optical transparency and strength.

Weakness: Production of high purity silica requires advanced processing techniques which results in high capital and operational costs. Fluctuating prices of raw materials can impact the overall costs.

Opportunity: Growing demand from end-use industries like electronics and healthcare due to miniaturization is expected to drive the market growth. Increasing use of high purity silica in LED manufacturing and solar panels can create new opportunities.

Threats: Stringent environmental regulations around mining activities of silica can negatively impact the supply chain. Presence of substitute products like fused silica may limit the demand growth to some extent.

Key Takeaways

The Global High Purity Silica Market Demand is expected to witness high growth. The global high purity silica market valuation is estimated to reach US$8.64 Mn in 2024 and expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.

Regional analysis comprises Asia Pacific dominates the global market and is estimated to grow at the fastest rate during the forecast period. The ever-growing electronics industry along with healthcare sector in China, Taiwan, South Korea and other developing Asian countries is boosting the demand in this region.

Key players operating in the high purity silica market are Aisin, Evonik, Wacker, Dow Corning, Cabot Corporation, Tokuyama, OCI Corporation, GCL Silicon, Norsk Silicon, Tangshan Sanyou, Xinjiang Zhongtian, Ashland, Heraeus Quarzglas, Tokuyama, PPG, Cabot, and Wacker Chemie. Among these, Evonik and Wacker capture over 35% share of the global market owing to their diversified product portfolio and strong sales network across regions. Other prominent players are expanding their production capacities and exploring new application areas to strengthen market presence.

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