NanoSilica Market Size To Reach $32.7 Billion By 2030

NanoSilica Market Growth & Trends

The global nanosilica market size is anticipated to reach USD 32.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 8.2% from 2024 to 2030. Increasing demand for nanosilica in various application industries has been a major factor driving market growth. Rubber industry emerged as the largest application segment for the demand of nanosilica supported by substantial growth from the automotive industry. 

Growing environmental concerns for biobased products and degradability is the key factor responsible for the growth of the market. Renewable feedstock has provided the manufacturers with cost reduction opportunities and improved penetration in heavily regulated market such as Europe and North America. Nanosilica is widely used in applications such as rubber, healthcare & medicine, coatings, agriculture and others. P-type nanosilica was estimated as the largest product segment in 2015 and is expected to continue the trend over the forecast period. The P-type product is extensively utilized by various application segments consumed with the volume share of 47.2% in 2015.

Coating application segment is projected to register the fastest growth in terms of volume with an estimated CAGR of 6.8% over the forecast period. Nanosilica is widely used in the super hydrophobic coating which helps to create a high water contact angle and low sliding angle which attribute to the superhydrophobicity in the coating formulations. Furthermore, rubber application segment accounted for the largest market in terms of volume owing to growing automotive industry and increasing usage of other rubber products in various applications.

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NanoSilica Market Report Highlights

• The P-type variant products have registered the dominant market share with 46.6% in 2023 owing to its numerous nanopores with a pore rate of 0.61 ml/g. These variants exhibit a higher ultraviolet reflectivity.

• The rubber industry has secured the dominant market share in 2023 owing to nanosilica’s role in enhancing material properties. Its small particle size and large surface area improved rubber reinforcement, durability, and resistance to wear and tear.

• Coatings are anticipated to grow substantially at a CAGR of 10.3% over the forecast period owing to the increasing demand for nanocoating across aviation, automobile, and medical industries.

• The nanosilica market in Asia Pacific region secured a market share of 44.9% owing to its rising demand in countries including China, Japan, and India.

NanoSilica Market Segmentation

Grand View Research has segmented the global nanosilica market on the basis of product, end-use, region:

NanoSilica Product Outlook (Revenue, USD Million, 2018 - 2030) (Volume in Kilotons)

• P-type

• S-Type

• Type III

NanoSilica End-use Outlook (Revenue, USD Million, 2018 - 2030) (Volume in Kilotons)

• Rubber

• Food & healthcare

• Coatings

• Plastics

• Abrasives & refractories

• Others

NanoSilica Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Vietnam

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • Saudi Arabia

List Of Key Players in the NanoSilica Market

• Evonik Industries

• AkzoNobel N.V.

• E. I. du Pont de Nemours and Company

• Cabot Corporation

• NanoPore Incorporated

• Nanostructured & Amorphous Materials, Inc. (NanoAmor)

• Fuso Chemical Co. Ltd.

• Wacker Chemie AG

• Dow Corning Corporation

• Bee Chems