Silica Gel Market Report and Forecast 2024-2032

Market Outlook

According to this report, the global silica gel market size reached a value of USD 640.50 million in 2023. Aided by the expansion of the electronics sector and the innovations in silica gel products, the market is projected to further grow at a CAGR of 3.3% between 2024 and 2032 to reach a value of USD 859.8 million by 2032.

Silica gel is a desiccant made from silicon dioxide, notable for its excellent moisture absorption properties. It is commonly used to control humidity and moisture in products, thereby extending their shelf life and preserving their quality. Silica gel is available in several forms, including granular, beaded, and powdered, and is utilized across a wide range of industries, including pharmaceuticals, food and beverages, electronics, and packaging.

The increasing consumer preference for moisture control and preservation of product quality is driving the global silica gel market growth. With growing awareness of the adverse effects of moisture on product stability and shelf life, there has been a significant shift towards the use of effective desiccants like silica gel. Additionally, the rising demand for packaged food products and pharmaceuticals has further contributed to the increasing popularity of silica gel, as it helps maintain product integrity by preventing moisture-induced damage.

The expanding applications of silica gel in various industries also play a significant role in propelling the silica gel market expansion. In the pharmaceutical industry, silica gel is used as a desiccant to protect medicines from moisture, thereby ensuring their efficacy and shelf life. The food and beverage industry utilizes silica gel to prevent spoilage and extend the shelf life of packaged goods. Moreover, silica gel's moisture-absorbing properties make it an essential component in the electronics industry, where it is used to protect sensitive electronic components from humidity and corrosion.

The growing demand for advanced packaging solutions in the food and beverage industry has led to an increased focus on silica gel as a viable moisture control agent. With the rising trend of convenience foods and the need for longer shelf life, silica gel has become a preferred choice for food packaging applications. Furthermore, the increasing consumer preference for high-quality electronics has boosted the demand for silica gel, as it helps maintain the performance and longevity of electronic devices by preventing moisture-related damage.

As per the global silica gel market analysis, the market is also benefiting from the increasing investments in research and development activities aimed at improving the efficiency and performance of silica gel products. Innovations in the production processes and the development of new applications are expected to further drive the market growth. Additionally, the growing focus on sustainable and eco-friendly desiccants is likely to create new opportunities for the market, as silica gel is non-toxic and environmentally friendly.

The rising need for effective moisture control solutions across various industries is a significant driver impacting the global silica gel market share. Silica gel's superior moisture absorption properties make it an essential component in preserving product quality and extending shelf life. The pharmaceutical and food industries' expansion is contributing to the market. Silica gel is widely used as a desiccant in pharmaceuticals to protect medicines from moisture and in food packaging to prevent spoilage and maintain product freshness.

The growing demand for high-quality electronics is propelling the market, as it is used to protect sensitive electronic components from humidity and corrosion. The increasing consumer preference for advanced electronic devices is further boosting the demand for silica gel. The increasing investments in research and development activities aimed at improving silica gel's efficiency and performance are driving the market growth. Innovations in production processes and the development of new applications are expected to further propel the market.

The North American silica gel market is driven by the robust pharmaceutical and food industries. The region's well-established pharmaceutical industry and the growing demand for packaged food products are propelling the demand for silica gel. Additionally, the presence of major market players and the increasing investments in research and development are further boosting the market growth.

Market Segmentation

The market can be divided based on type, industrial vertical and region.

Market Breakup by Type

• Indicating
• Non-indicating

Market Breakup by Industry Vertical

• Pharmaceuticals
• Paint and Coating
• Food and Beverages
• Personal Care
• Plastic
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global silica gel market. Some of the major players explored in the report are as follows:

• BASF SE
• Thermo Fisher Scientific Inc.
• AGC Inc.
• Fuji Silysia Chemical, Ltd.
• International Silica Gel Co., Ltd.
• Merck KGaA
• SiliCycle Inc.
• W. R. Grace & Co.
• Ashirwad Chemicals
• Osaka Soda Co., Ltd.
• Others