Nanosilica Market Definition And Segments
Nanosilica refers to an allotrope of silicon containing 99% silicon dioxide, which lowers the cement volume while finishing the grading of the aggregate mix in the zone of the smallest sizes. This is the second most abundant element in the earth’s crust.
The nanosilica market covered in this report is segmented by type into P type, S type, and type III. It is also segmented by raw material into rice husk, olivine, bagasse, and others and by application into rubber, health and medicine, food, coatings, plastic, concrete, gypsum, cosmetics, electronics, and others.
The nanosilica market covered in this report is segmented –
1) By Type: P Type, S Type, Type III
2) By Raw Material: Rice Husk, Olivine, Bagasse, Other raw Materials
3) By Application: Rubber, Health And Medicine, Food, Coatings, Plastic, Concrete, Gypsum, Cosmetics, Electronics, Other Applications
The nanosilica market size has grown strongly in recent years. It will grow from $4.12 billion in 2023 to $4.4 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to increasing demand for nanotechnology applications in electronics, growing use of nanosilica in the construction industry, rise in demand for nanosilica in the healthcare sector for drug delivery systems, stringent environmental regulations, adoption of eco-friendly nanomaterials.
The nanosilica market size is expected to see strong growth in the next few years. It will grow to $5.93 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to expansion of the automotive industry, growing demand for high-performance coatings in various industries, rise in research and development activities, increasing awareness and adoption of nanosilica in the energy sector, surge in demand for nanosilica in water treatment applications. Major trends in the forecast period include integration of nanosilica in consumer goods for enhanced properties, focus on sustainable and bio-sourced nanosilica production methods, collaboration between industries for cross-application, emergence of innovative nanosilica-based products, shift towards personalized medicine and diagnostics.
Nano-Silica Market Growth Driven By Surging Demand For Nanoparticles In The Medical Industry
Increased demand for nanoparticles in the medical industry contributed to the growth of the nano-silica market. Nanoparticles are presently being engaged as a tool to explore the rarest approaches of medical sciences in several ways such as imaging, sensing, targeted drug delivery, gene delivery systems, and artificial implants. A replacement study done by Washington University (GW) Cancer Center found that nanoparticle-encapsulated doxorubicin is promising in the treatment of triple-negative carcinoma. Doxorubicin may be a well-known anthracycline drug class used primarily together with chemotherapy. Amino-functionalized silica nanoparticles (SiNPs) are being used as targeted delivery vehicles for the potential treatment of carcinoma. SiNPs can efficiently encapsulate doxorubicin and may be attached to a targeting moiety such as anti-Claudin-4 (CLN4). Nanoparticles have been found to help increase the contrast of the image produced by ultrasonography particularly when imaging tumors. The nanoparticles market experiences huge demand from the medical industry, which in turn will propel the revenues generated for the nano-silica market.
The Growing Automotive Sector Fuels Nanosilica Market Expansion
The expanding automobile industry is expected to propel the growth of the nanosilica market in the coming years. The automobile industry, sometimes known as the automotive sector, consists of businesses that engage in the design, development, production, marketing, and sale of automobiles. Nanosilica is used in the manufacturing of coatings, tires, and interior components of automobiles due to its unique properties, such as enhancing the strength and durability of materials, reducing friction and wear, improving fuel efficiency, and providing UV protection and scratch resistance. For instance, in January 2023, according to the Federal Chamber of Automotive Industries, an Australia-based industrial group that represents manufacturers and distributors of motorcycles, light vehicles, and automobiles, automobile demand exceeded supply during the unusual year 2022, with an overall of 1,081,429 automobiles delivered. Light commercial vehicles and SUVs made up 76.8% of all sales. Therefore, the expanding automobile industry is driving the nanosilica market.
Major companies operating in the nanosilica market report are NanoPore Incorporated, Fuso Chemical Co. Ltd., Evonik Inc., Cabot Corporation, DuPont Inc., Akzonobel Ltd., Nanostructured & Amorphous Materials Inc., Wacker Chemie AG, Normet India Private Limited, Nanosil Sdn, US Research Nanomaterials Inc., nanoComposix Inc., Bee Chem Corporates Private Limited, Dow Corning Corporation, Nanocyl S. A., Nanophase Technologies Corporation, Nanosilica Co. Ltd., NanoSonic Inc., Elektrokemiska Aktiebolaget, Sigma-Aldrich Chemicals Pvt. Ltd., SkySpring Nanomaterials Inc., Nyacol Nano Technologies Inc., Nanoshel LLC, Admatechs Co. Ltd., Reinste Nano Ventures Pvt. Ltd., Advanced Nano Products Co. Ltd., PlasmaChem GmbH, Suzhou Tanfeng Nanomaterials Co. Ltd.
Innovative Solutions For Efficient Use
Major companies operating in the nanosilica market are focusing on developing innovative products, such as nanoparticle-coated cotton fabric, to better meet the needs of their existing consumers. Cotton fabric treated with silica nanoparticles is textile material enhanced with microscopic silica particles for improved durability, stain resistance, and moisture management. For instance, in September 2023, the Indian Institute of Technology (IIT) Guwahati, an India-based public technical university, developed cotton fabric treated with silica nanoparticles that can remove oil from oil-water mixtures. The goal of this research project is to turn vast amounts of waste from agriculture into an environmentally friendly value-added product that will help reduce marine oil pollution. The nanoparticles in discussion were created using rice husk, an agricultural waste, as the principal raw material. The study's findings can help in the construction of cost-effective, long-term structures for separating oil/water mixes or dangerous components from marine waters.
Strategic Partnership Expands Reach
Major companies operating in the nanosilica market are adopting a strategic partnership approach to increase the availability of nanoparticles for clients throughout the world. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in March 2021, nanoComposix, Inc., a US-based company specializing in silica based nanoparticles, contract development, and scaled manufacturing, announced a partnership with BIOZOL Diagnostica Vertrieb GmbH, a Germany-based biotechnological company, to enhance the accessibility of nanoComposix products to consumers and boost the market presence in Germany and Austria.
Fortis Life Sciences LLC’s Strategic Acquisition Of Nanocomposix Inc. Accelerates Advancements In Nanoparticle Applications And Development
In July 2021, Fortis Life Sciences LLC, a US-based life sciences firm that serves clients in research, diagnostics, and therapeutics, acquired nanoComposix Inc. for an undisclosed amount. Through the acquisition, nanoComposix merging with other Fortis portfolio firms is going to result in a strong synergy in the life science reagent market. The combination of nanoComposix Inc. ’s distinctive nanoparticle products and rapid development services has resulted in a surge of interest in nanoparticles and their potential uses. Fortis is the ideal expansion partner for nanoComposix Inc. to further provide world-class assistance to clients in this dynamic industry. nanoComposix Inc. is a US-based company that manufactures nanoparticles.
Asia-Pacific was the largest region in the nanosilica market in 2023. The regions covered in the nanosilica market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the nanosilica market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The nanosilica market consists of sales of solid silica and shaped silica. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The nanosilica market research report is one of a series of new reports from The Business Research Company that provides nanosilica market statistics, including nanosilica industry global market size, regional shares, competitors with a nanosilica market share, detailed nanosilica market segments, market trends and opportunities, and any further data you may need to thrive in the nanosilica industry. This nanosilica market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.