Silica Fume Market size is forecast to reach $701.6 million by 2025, after growing at a CAGR of 4.5% during 2020-2025. Silica Fume is a fine powder made from the byproduct of silicon metal or ferrosilicon alloys in electric arc furnace. It is widely used in concrete applications as it improves its properties, such as strength, resistance, and bonding. The companies are adopting various strategies and investing a lot in R&D to develop technical advancement in the silica fumes. However, the pandemic has turned to be the biggest challenge for the market in 2020.
Silica Fume Market Segment Analysis – By Source of Metal
Silicon metal holds the largest market share for making silica fume which is a byproduct of silica fumes. The growth is due to the rise in demand of silica fume in residential and commercial construction. Because of its high amorphous silicon dioxide content, silica fume is pozzolanic material in concrete. As it gets reacted it releases calcium hydroxide to form a binder material, calcium silicate hydrate which helps in increasing the property of silica fume.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=15138
Report Price: $ 4500 (Single User License)
Silica Fume Market Segment Analysis – By Silica Contains
Silica Fume with 90-95% Silicon dioxide holds the largest share in silica fumes market. The more is the amount of silicon dioxide the better are the physical properties of concrete. More amount of silica fumes more pozzolanic the concrete is. The Silicon dioxide content of the silica fumes depends upon the type of alloy used in its production. 98% of silicon metal can produce silica fume with 87-98% silicon dioxide content and in case of alloys, 50% ferrosilicon can produce 74-84% silicon dioxide content. According to the international standards silica fumes must have minimum 85% of silicon dioxide content.
Silica Fume Market Segment Analysis – By Application
Cement and concrete are projected to witness highest share in the Silica Fumes Market in 2019. According to the American Society of Civil Engineers, it will take approximately $4 trillion to repair the current state of the US infrastructure by 2025. To meet future demands and to restore the country’s competitive advantage, the US federal government has agreed, in principle, to spend $2 trillion over the next 10 years, one of the biggest infrastructure investments in US history. The growth in population has led to increase in construction projects. The high-performance concrete containing silica fume is used in making bridges, parking decks, marine structures which are subjected to constant deterioration caused by rebar corrosion current, abrasion and chemical attack problems. Apart from this silica fumes are also used for the remedial operations, refactoring, ceramics and specialty castings where its resistance to high temperature and abrasion make it extremely valuable in the manufacturing processes as well as ceramics such as glazes for tiles and sanitary wear. It is mainly used as deoxidant and an alloying element in the production of steel and cast iron.
Silica Fume Market Segment Analysis – By End-Use Industry
Building and Construction dominates the silica fume market growing at a CAGR of 6% From 2014 to 2017, the direct CO2 intensity of cement production increased 0.3% per year, according to the International Energy Agency, and cement production could rise by as much as 23% by 2050 as the global population grows. With the growing construction industry and its demand for silica fumes in cement and concrete particularly in the regions of Asia-Pacific, North America and Europe, the demand of silica fumes for all kinds of construction is expected to see an upsurge. Residential application segment is witnessing growth due to the rising penetration from untapped markets. First-mover advantage in untapped regions and relatively low acquisition costs remain key driving forces in this application market. Furthermore, R&D in silica fumes will support the growth of the silica fume market.
Silica Fume Market Segment Analysis – By Geography
Asia Pacific region is projected to register fastest growth rate during forecast period and accounted for 45% of the silica fume market owing to the high demand in China and India followed by North America. APAC as a whole is set to continue to be one of the largest and fastest growing construction markets globally. Large and more developed markets such China, India and Japan are expected to grow more in the coming years because of the governmental infrastructure projects in these countries. China is driving much of the silica fume market demand in Asia-Pacific region followed by India and Japan but due to COVID-19 pandemic countries are looking towards other nations for the future. Of the five fastest growing regions in construction sector, other than U.S. all are Asian countries including China and India who majorly drive the demand for construction investment in this region. The strong and healthy growth in construction sector is associated with growing population and middle-class economy, which tend to drive APAC residential construction market further and hence the silica fume market. The increasing number of new building constructions, along with the rise in the number of renovation projects and the new infrastructure projects has further propelled the market.
Silica Fume Market Drivers
Increasing demand and rise in Industrialisation
According to a report by KPMG, 2050 will have seen the human population explode from 2.5 billion to 9.2 billion. Hence there is a need to develop residential infrastructure as 75% of the population will be living in urban areas. It is estimated that approximately INR 304 lakh crores of investment is required in the Indian infrastructure sector till 2040 in order to sustain the country’s development. Not only India but Asian countries like China and Japan are also working towards increasing infrastructure and providing the best infrastructure and growth in their economy.
Increase in production will lead to increase in the supply chain of silica fume in near future
The companies are adopting various growth strategies and investing in R&D extensively to develop technically advanced unique products. The increase in demand is leading towards the new growth. Making roadways intelligent could facilitate maintenance and enable new monetization opportunities such as congestion or surge-based roadway tolls as part of the build-operate transfer model. This smart use case is a prime candidate for using new materials that can perform better over their life cycle, are more sustainable, and are easier to repair or maintain.
Download Sample Report @ https://www.industryarc.com/pdfdownload.php?id=15138
Silica Fume Market Challenges
Higher price of Silica Fume
Silica fumes are made from coke which is a natural resource and hence requires lot of investment in extraction process. The cost of material directly depends upon the raw material and processing cycle. The higher demand and complex processing will lead to the increase in production cost and hence in the price of silica fumes.
The emergence of COVID-19 pandemic
The emergence of COVID-19, which is declared a pandemic by the World Health Organization, is having a noticeable impact on global economic growth. According to International Monetary Fund, the global GDP is expected to decline by 3% in 2020. According to World Trade Organization (WTO), global trade volumes are projected to decline between 13% and 32% in 2020 as a result of the economic impact of COVID-19. Currently the construction industry has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. In in turn has affected the demand and supply chain as well which has been restricting the growth in year 2020.
The changing technology and R&D activities are key strategies adopted by players in the silica fume market. In 2019, the market of silica has been consolidated by the top ten players accounting for xx% of the share. Major players in the silica fume market are Bisley & Company Pty. Ltd., Brock White Co. LLC, Carbon Enterprises, DowDupont Inc., Ecotec SiliCA Fume, Elkem A/S, Kryton International, Inc., Norchem, Inc., Shanghai Topken Silica Fume Co. Ltd., Wuhan New Reach Micro SiliCA Co. Ltd and others.
In February 2018, Kryton International has acquired Calgary-based Cementec Industries, a manufacturer of concrete additive solutions for the construction and oil & gas industries. Cementec also manufactures Silica Fume products that are used to densify and strengthen concrete. These can be used in conjunction with the Krystol Internal Membrane (KIM) system from Kryton to provide Smart Concrete solutions that will save time while providing durability.
Asia Pacific region dominates the silica fume market owing to the high demand in China and India.
North America is emerging as the new market for silica fumes due to the new inbuilt policies for infrastructural development.
The rise in population globally has led to increase demand which will lead to increase in supply chain of silica fumes in near future.
Due to the COVID-19 pandemic, most of the countries have gone under temporary shutdown, due to which operations of silica fume and related industries has been negatively affected, thus hampering the growth of silica fume market.
The key focuses areas will include the applications and the end use industry of silica fume market and market estimation analysis geographically.
The report in depth provides an understanding of silica fume market- company analysis consisting of market share, company revenue, products, M&A and developments.
Related Reports :
A. Concrete Admixtures Market
B. Global Cement Board Market
For more Chemicals and Materials Market reports, Please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to firstname.lastname@example.org to discuss more about our consulting services.