The silica sol market attained $0.8 billion in 2021 and is projected to reach $1.3 billion by 2031 by 2031, growing at a CAGR of 5.0% from 2022 to 2031.
Silica sol refers to liquid suspensions of spherical, nonporous, and finely amorphous silica particles. In the presence of water, siloxane linkages and silanol groups blanket the surface of colloidal silica. This product is commonly used as a rheological component in a variety of personal care products in order to manage fluidity. In the coming years, this aspect is anticipated to contribute to the expansion of the global colloidal silica market. Recent research has investigated the use of mesoporous silica nanoparticles as nanocarriers for gene and medication delivery. Silica sol is a very adaptable substance that can improve the qualities of a wide range of products from a variety of industries, including the building & construction and food & beverage sectors. Colloidal silica performs multiple roles in manufacturing processes, from boosting oxygen barrier qualities to improving ink absorption.
Silica sol, also known as colloidal silicic acid, is a stable suspension of hydroxylated, spherical silicon dioxide (SiO2) nanoparticles in a liquid. In nearly every industrial sector, colloidal silicic acid is present. Surface treatment in the paper industry, usage as a polishing agent in the electronics sector, and use as an additive for varnishes, coatings, and paints to improve weather and abrasion resistance are among the applications. It is also commonly used in the cosmetics and culinary industries. The application of SiO2 particles is determined by their mean particle size and distribution width. Normal diameters range from 1 to 100 nanometers.
Increasing use of silica sol in the automobile industry globally is expected to expand the market in the coming years. Silica sol is widely employed in the automotive industry for the production of tires with reduced rolling resistance. The continued development of novel tires containing hydrophobic colloidal silica to enhance vehicle handling and fuel economy is anticipated to drive the market. Nokian Tyres introduced the Green Step prototype tire in January 2022. It comprises 93% recyclable or renewable materials. By 2030, according to the manufacturer, 50% of the raw materials used to manufacture this tire will be recycled. Thus, the introduction of such environment-friendly tires in various regions of the world is expected to be positive for the industry.
Silica sol is classified as somewhat irritating rather than hazardous. Because the chemicals can dry the skin, protective gloves must always be used. It irritates the skin and causes skin corrosion/irritant. It can cause major eye damage, there is a risk of serious eye injury. It may irritate the respiratory tract and skin. Target organ toxicity (repeated exposure): May irritate the respiratory tract and skin. In conclusion, the major risk to humans during production and transport could hamper the global market potential for silica sol.
The use of silica sol as an active chemical ingredient in the production of numerous pharmaceutical tablets, such as paracetamol and animal medicines, is regarded as a significant sales driver. It can preserve the stability of Active Pharmaceutical Ingredients (API) that are moisture-sensitive. Silica sol is increasingly employed as a disintegrant, an absorbent, an anti-caking agent, and a glidant to facilitate the powder's flow during the tablet-making process. Numerous manufacturers are anticipated to offer innovative pharmaceutical goods to capitalize on the unexplored market opportunity. Thus, the increasing adoption of silica sol in the pharmaceutical industry will offer lucrative opportunities for the silica sol market.
The global silica sol market is segmented into application, end-use industry, and region. Depending on the application, the market is classified into a binder, surface modification, flocculant, catalyst, and others. On the basis of the end-user industry, it is categorized into chemicals, foundry, pulp and paper, plastics, electrical & electronics, textile, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global silica sol market are ADEKA CORPORATION, AMS Applied Material Solutions, Cabot Corporation, Ecolab Inc., Evonik Industries AG, Gelest, Inc., Merck KGaA, Nissan Chemical Corporation, Sterling chemicals, W. R. Grace & Co. -Conn. Other players operating in the market are Nouryon, Visa Chemical Industries, and Qingdao FSK Foundry Materials CO., LTD.
COVID-19 impact analysis on the silica sol market.
The pandemic of COVID-19 has had a swift and severe impact on the global automotive industry.
Chinese component supplies were halted, large-scale production disruptions occurred across Europe, and American assembly plants were shut down.
However, after the pandemic, as the demand returned to normal after the restrictions were lifted, market participants in this market have explored measures to minimize the pandemic's impact on their business.
The automobile industry is increasing after the pandemic which automatically increased the demand for the silica sol market as it is used in paints and coatings of automotive parts.
The production of automobiles increases in 2021 as compared to 2020. According to the International Organization of Motor Vehicle Manufacturers, the production of automobiles increased as it was $77 million in 2020 and $80 million in 2021.
Many end-use industries such as paper & pup and electronics are expanding which will drive the silica sol market in the forecast years.
Silica sol refers to liquid suspensions of spherical, nonporous, and finely amorphous silica particles. In the presence of water, siloxane linkages and silanol groups blanket the surface of colloidal silica. This product is commonly used as a rheological component in a variety of personal care products in order to manage fluidity. In the coming years, this aspect is anticipated to contribute to the expansion of the global colloidal silica market. Recent research has investigated the use of mesoporous silica nanoparticles as nanocarriers for gene and medication delivery. Silica sol is a very adaptable substance that can improve the qualities of a wide range of products from a variety of industries, including the building & construction and food & beverage sectors. Colloidal silica performs multiple roles in manufacturing processes, from boosting oxygen barrier qualities to improving ink absorption.
Silica sol, also known as colloidal silicic acid, is a stable suspension of hydroxylated, spherical silicon dioxide (SiO2) nanoparticles in a liquid. In nearly every industrial sector, colloidal silicic acid is present. Surface treatment in the paper industry, usage as a polishing agent in the electronics sector, and use as an additive for varnishes, coatings, and paints to improve weather and abrasion resistance are among the applications. It is also commonly used in the cosmetics and culinary industries. The application of SiO2 particles is determined by their mean particle size and distribution width. Normal diameters range from 1 to 100 nanometers.
Increasing use of silica sol in the automobile industry globally is expected to expand the market in the coming years. Silica sol is widely employed in the automotive industry for the production of tires with reduced rolling resistance. The continued development of novel tires containing hydrophobic colloidal silica to enhance vehicle handling and fuel economy is anticipated to drive the market. Nokian Tyres introduced the Green Step prototype tire in January 2022. It comprises 93% recyclable or renewable materials. By 2030, according to the manufacturer, 50% of the raw materials used to manufacture this tire will be recycled. Thus, the introduction of such environment-friendly tires in various regions of the world is expected to be positive for the industry.
Silica sol is classified as somewhat irritating rather than hazardous. Because the chemicals can dry the skin, protective gloves must always be used. It irritates the skin and causes skin corrosion/irritant. It can cause major eye damage, there is a risk of serious eye injury. It may irritate the respiratory tract and skin. Target organ toxicity (repeated exposure): May irritate the respiratory tract and skin. In conclusion, the major risk to humans during production and transport could hamper the global market potential for silica sol.
The use of silica sol as an active chemical ingredient in the production of numerous pharmaceutical tablets, such as paracetamol and animal medicines, is regarded as a significant sales driver. It can preserve the stability of Active Pharmaceutical Ingredients (API) that are moisture-sensitive. Silica sol is increasingly employed as a disintegrant, an absorbent, an anti-caking agent, and a glidant to facilitate the powder's flow during the tablet-making process. Numerous manufacturers are anticipated to offer innovative pharmaceutical goods to capitalize on the unexplored market opportunity. Thus, the increasing adoption of silica sol in the pharmaceutical industry will offer lucrative opportunities for the silica sol market.
The global silica sol market is segmented into application, end-use industry, and region. Depending on the application, the market is classified into a binder, surface modification, flocculant, catalyst, and others. On the basis of the end-user industry, it is categorized into chemicals, foundry, pulp and paper, plastics, electrical & electronics, textile, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global silica sol market are ADEKA CORPORATION, AMS Applied Material Solutions, Cabot Corporation, Ecolab Inc., Evonik Industries AG, Gelest, Inc., Merck KGaA, Nissan Chemical Corporation, Sterling chemicals, W. R. Grace & Co. -Conn. Other players operating in the market are Nouryon, Visa Chemical Industries, and Qingdao FSK Foundry Materials CO., LTD.
COVID-19 impact analysis on the silica sol market.
The pandemic of COVID-19 has had a swift and severe impact on the global automotive industry.
Chinese component supplies were halted, large-scale production disruptions occurred across Europe, and American assembly plants were shut down.
However, after the pandemic, as the demand returned to normal after the restrictions were lifted, market participants in this market have explored measures to minimize the pandemic's impact on their business.
The automobile industry is increasing after the pandemic which automatically increased the demand for the silica sol market as it is used in paints and coatings of automotive parts.
The production of automobiles increases in 2021 as compared to 2020. According to the International Organization of Motor Vehicle Manufacturers, the production of automobiles increased as it was $77 million in 2020 and $80 million in 2021.
Many end-use industries such as paper & pup and electronics are expanding which will drive the silica sol market in the forecast years.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the silica sol market analysis from 2021 to 2031 to identify the prevailing silica sol market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the silica sol market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global silica sol market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
- Binder
- Surface Modification
- Flocculant
- Catalyst
- Others
By End Use Industry
- Chemicals
- Foundry
- Pulp and Paper
- Plastics
- Electrical and Electronics
- Textile
- Others
By Region
- North America
- U. S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Merck KGaA
- Sterling Chemicals
- Gelest, Inc.
- Ecolab Inc.
- AMS Applied Material Solutions
- Nissan Chemical Corporation
- W. R. Grace & Co. -Conn.
- Evonik Industries AG
- ADEKA CORPORATION
- Cabot Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Pricing Analysis
3.8. Patent Landscape
3.9. Value Chain Analysis
3.10. Regulatory Guidelines
CHAPTER 4: SILICA SOL MARKET, BY APPLICATION
4.1 Overview
4.1.1 Market size and forecast
4.2 Binder
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3 Surface Modification
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
4.4 Flocculant
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market share analysis by country
4.5 Catalyst
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market share analysis by country
4.6 Others
4.6.1 Key market trends, growth factors and opportunities
4.6.2 Market size and forecast, by region
4.6.3 Market share analysis by country
CHAPTER 5: SILICA SOL MARKET, BY END USE INDUSTRY
5.1 Overview
5.1.1 Market size and forecast
5.2 Chemicals
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3 Foundry
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
5.4 Pulp and Paper
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market share analysis by country
5.5 Plastics
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market share analysis by country
5.6 Electrical and Electronics
5.6.1 Key market trends, growth factors and opportunities
5.6.2 Market size and forecast, by region
5.6.3 Market share analysis by country
5.7 Textile
5.7.1 Key market trends, growth factors and opportunities
5.7.2 Market size and forecast, by region
5.7.3 Market share analysis by country
5.8 Others
5.8.1 Key market trends, growth factors and opportunities
5.8.2 Market size and forecast, by region
5.8.3 Market share analysis by country
CHAPTER 6: SILICA SOL MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Application
6.2.3 North America Market size and forecast, by End Use Industry
6.2.4 North America Market size and forecast, by country
6.2.4.1 U. S.
6.2.4.1.1 Key market trends, growth factors and opportunities
6.2.4.1.2 Market size and forecast, by Application
6.2.4.1.3 Market size and forecast, by End Use Industry
6.2.4.2 Canada
6.2.4.2.1 Key market trends, growth factors and opportunities
6.2.4.2.2 Market size and forecast, by Application
6.2.4.2.3 Market size and forecast, by End Use Industry
6.2.4.3 Mexico
6.2.4.3.1 Key market trends, growth factors and opportunities
6.2.4.3.2 Market size and forecast, by Application
6.2.4.3.3 Market size and forecast, by End Use Industry
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Application
6.3.3 Europe Market size and forecast, by End Use Industry
6.3.4 Europe Market size and forecast, by country
6.3.4.1 Germany
6.3.4.1.1 Key market trends, growth factors and opportunities
6.3.4.1.2 Market size and forecast, by Application
6.3.4.1.3 Market size and forecast, by End Use Industry
6.3.4.2 France
6.3.4.2.1 Key market trends, growth factors and opportunities
6.3.4.2.2 Market size and forecast, by Application
6.3.4.2.3 Market size and forecast, by End Use Industry
6.3.4.3 UK
6.3.4.3.1 Key market trends, growth factors and opportunities
6.3.4.3.2 Market size and forecast, by Application
6.3.4.3.3 Market size and forecast, by End Use Industry
6.3.4.4 Spain
6.3.4.4.1 Key market trends, growth factors and opportunities
6.3.4.4.2 Market size and forecast, by Application
6.3.4.4.3 Market size and forecast, by End Use Industry
6.3.4.5 Italy
6.3.4.5.1 Key market trends, growth factors and opportunities
6.3.4.5.2 Market size and forecast, by Application
6.3.4.5.3 Market size and forecast, by End Use Industry
6.3.4.6 Rest of Europe
6.3.4.6.1 Key market trends, growth factors and opportunities
6.3.4.6.2 Market size and forecast, by Application
6.3.4.6.3 Market size and forecast, by End Use Industry
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Application
6.4.3 Asia-Pacific Market size and forecast, by End Use Industry
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Key market trends, growth factors and opportunities
6.4.4.1.2 Market size and forecast, by Application
6.4.4.1.3 Market size and forecast, by End Use Industry
6.4.4.2 Japan
6.4.4.2.1 Key market trends, growth factors and opportunities
6.4.4.2.2 Market size and forecast, by Application
6.4.4.2.3 Market size and forecast, by End Use Industry
6.4.4.3 India
6.4.4.3.1 Key market trends, growth factors and opportunities
6.4.4.3.2 Market size and forecast, by Application
6.4.4.3.3 Market size and forecast, by End Use Industry
6.4.4.4 South Korea
6.4.4.4.1 Key market trends, growth factors and opportunities
6.4.4.4.2 Market size and forecast, by Application
6.4.4.4.3 Market size and forecast, by End Use Industry
6.4.4.5 Rest of Asia-Pacific
6.4.4.5.1 Key market trends, growth factors and opportunities
6.4.4.5.2 Market size and forecast, by Application
6.4.4.5.3 Market size and forecast, by End Use Industry
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Application
6.5.3 LAMEA Market size and forecast, by End Use Industry
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Key market trends, growth factors and opportunities
6.5.4.1.2 Market size and forecast, by Application
6.5.4.1.3 Market size and forecast, by End Use Industry
6.5.4.2 Saudi Arabia
6.5.4.2.1 Key market trends, growth factors and opportunities
6.5.4.2.2 Market size and forecast, by Application
6.5.4.2.3 Market size and forecast, by End Use Industry
6.5.4.3 South Africa
6.5.4.3.1 Key market trends, growth factors and opportunities
6.5.4.3.2 Market size and forecast, by Application
6.5.4.3.3 Market size and forecast, by End Use Industry
6.5.4.4 Rest of LAMEA
6.5.4.4.1 Key market trends, growth factors and opportunities
6.5.4.4.2 Market size and forecast, by Application
6.5.4.4.3 Market size and forecast, by End Use Industry
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Players
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 Merck KGaA
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 sterling chemicals
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 Gelest, Inc.
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Ecolab Inc.
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 AMS Applied Material Solutions
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 Nissan Chemical Corporation
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 W. R. Grace & Co.-Conn.
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 evonik industries ag
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 ADEKA CORPORATION
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 Cabot Corporation
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Silica Sol Market,' the silica sol market was valued at $0.8 billion in 2021, and is estimated to reach $1.3 billion by 2031, growing at a CAGR of 5.0% from 2022 to 2031.Silica sol, also known as colloidal silicic acid, is a stable suspension of hydroxylated, spherical silicon dioxide (SiO2) nanoparticles in a liquid. In nearly every industrial sector, colloidal silicic acid is present. Sol silicate paint requires silica sol as a necessary ingredient. Sol silicate paint is produced by combining silica sol with potassium silicate as the major binder. It is also offered in biocide-free or low-biocide solutions. Silica sol decreases the binder's solubility and pH, improves the weather resilience of paint, and reduces alkalinity. In addition, it improves film characteristics and reduces internal stress and adhesion which is a critical issue in inorganic coatings.
During the forecast period, the market for silica sol is expected to be driven by China's rapidly expanding electronics and semiconductor industries. In China, prominent manufacturers of silica sol are increasing their investments in the development of this product to meet the demands of end-use applications. The admission of numerous Small and Medium-Sized Businesses (SMBs) into the country will be a major driver for market growth. The global demand for silica sol is expected to increase substantially as the use of electronic items grows. Approximately 28 electronic items, such as personal computers, electronic readers, mobile phones, and televisions are utilized by the average American household, as per the Environmental Protection Agency (EPA).
The global construction sector is expanding at a rapid rate, which is increasing the demand for a variety of construction materials. Cement is one of the most important components in the construction process, and silica sol is used to densify cement, concrete, and other construction materials. Need for silica sol is predicted to increase over the next few years as a result of the growing demand for a variety of construction materials, which will create potential prospects for the market. However, the high price volatility of the raw materials used in the production of the product, as well as the severe laws and policies related to the product's use, are anticipated to serve as major restraints on the growth of the global silica sol market during the forecast period.
The global silica sol market is segmented into application, end-use industry, and region. Depending on the application, the market is classified into a binder, surface modification, flocculant, catalyst, and others. On the basis of the end-user industry, it is categorized into chemicals, foundry, pulp and paper, plastics, electrical & electronics, textile, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of application, the silica sol market is categorized into a binder, surface modification, flocculant, catalyst, and others. Other applications are projected as the fastest-growing segment and catalyst application has garnered the highest share in the silica sol market.
On the basis of the end-use industry, the silica sol market is categorized into chemicals, foundry, pulp and paper, plastics, electrical & electronics, textile, and others. Other industries are projected as the fastest-growing segment and the chemical industry has garnered the highest share in the silica sol market.
Region-wise, Asia-Pacific is projected to register robust growth during the forecast period, due to the increased demand for silica sol from the textile and electrical & electronics industries.
The major players operating in the global silica sol market are ADEKA CORPORATION, AMS Applied Material Solutions, Cabot Corporation, Ecolab Inc., Evonik Industries AG, Gelest, Inc., Merck KGaA, Nissan Chemical Corporation, Sterling chemicals, W. R. Grace & Co.-Conn. Other players operating in the market are Nouryon, Visa Chemical Industries, and Qingdao FSK Foundry Materials CO., LTD.
COVID-19 impact analysis on the silica sol market
The automobile industry is increasing after the pandemic which automatically increased the demand for the silica sol market as it is used in paints and coatings of automotive parts.The production of automobiles increases in 2021 as compared to 2020. According to the International Organization of Motor Vehicle Manufacturers, the production of automobiles increased as it was $77 million in 2020 and $80 million in 2021.
Many end-use industries such as paper & pup and electronics are expanding which will drive the silica sol market in the forecast years.
Key findings of the study
On the basis of application, the other segment is expected to grow at a CAGR of 5.8%, in terms of revenue, during the forecast period.Depending on the end-use industry, the other segment is expected to grow at a CAGR of 7.2%, in terms of revenue, during the forecast period.
Region wise, Asia-Pacific contributed 48.04 % market share in 2021 and is projected to grow at a CAGR of 5.9% during the forecast period.
Companies Mentioned
- Merck KGaA
- Sterling Chemicals
- Gelest, Inc.
- Ecolab Inc.
- Ams Applied Material Solutions
- Nissan Chemical Corporation
- W. R. Grace & Co.-Conn.
- Evonik Industries AG
- Adeka Corporation
- Cabot Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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