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The market size of Silica Fume is projected to reach 563.09 Million USD by 2020

Press release   •   Sep 26, 2016 02:50 EDT

The report “Silica Fume Market by Application (Building Construction, Marine Structure Construction, Oil & Gas Well Grouting, Nuclear Power Plant Construction, Chemical Production Facilities Construction, by Geography (Middle East and Africa, North America, Asia-Pacific, South And Central America) - Global Analysis and Forecast to 2020”, defines and segments the concerned market with analysis and forecast of revenue.

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“Silica Fume Market - Global Analysis and Forecast to 2020”

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The silica fume market has been witnessing steady growth over the past few years, owing to rising demand from building construction and marine structure construction application segments.

Middle East & Africa - The most dominant region in the silica fume market

The silica fume market in the Middle East & Africa is one of the fastest-growing markets across the globe, and accounted for a share of 30.65%, in terms of volume, in 2014. UAE contributed the largest share to the silica fume market in this region. The growth of the market in the country can be mainly attributed to the rising demand for silica fume concrete in the building construction industry. The global silica fume market was valued at USD 430.87 Million in 2014, and is projected to grow at a CAGR of about 4.22% between 2015 and 2020 to reach USD 563.09 Million by 2020.

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China and the U.S. led the silica fume market in terms of consumption, while UAE, Saudi Arabia, and Brazil are other key countries in this market. In 2014, the continually growing construction activities in the country led to the high consumption of silica fume in China, followed by the U.S. and UAE. The demand of silica fume is expected to rise in Asia-Pacific in the coming years, owing to urbanization, high investment in social infrastructures, and development of existing infrastructures.

Building construction is projected to be the largest and the fastest-growing end user segment of the silica fume market between 2015 and 2020. The building construction industry is expected to progress in the Middle East & Africa and North America. The increasing number of constructions of high-rise buildings has resulted in the rising consumption of silica fume, as adding silica fume to such structures makes them robust, durable, and less susceptible to damage. Silica fume is widely used in the construction industry, as it makes concrete corrosion- and sulphate-resistant and increases the strength of the concrete.

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The marine construction industry is the second-largest application segment of silica fume. It gives structures like bridges low-permeability and anti-abrasion properties. Asia-Pacific and North America are major markets in this application segment. Oil & gas well grouting is another important application of silica fume. Silica fume increases durability, prevents gas migration, decreases permeability, and improves flow of gas and lubricants. It is used for the settlement of grout as a hydraulic drill in well bores. The Middle East & Africa and North America are the key markets in this segment.

There are many safety concerns in high-rise buildings and marine bridges, due to which the use of silica fume in cement is rising, which can be attributed to the fact that addition of silica fumes in cement reduces permeability and increases abrasion resistance. Improving the awareness of use of silica fume and the requirement of better handling and storage facilities are the major challenges in the industry.

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MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.

MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. M&M covers thirteen industry verticals, including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.