Colloidal silica is finding immense use in the electronics & semiconductor industry, wherein, it plays a critical role in the production of ultra-flat, uniform, and low detection surfaces for semiconductors. Moreover, colloidal silica is used as a rough surface remover and as a polishing additive. It is extensively used for electropolishing to remove microscopic layers of metal particles from surfaces. In addition, the growing electronics & semiconductor industry in South and East Asia is expected to drive the colloidal silica market over the decade ahead. Paints & coatings and paper & pulp industries are also expected to pave the way for market growth in the coming years.
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The global colloidal silica market was valued at US$ 233 Mn in 2020, and is projected to expand at a CAGR of 4% over the forecast period (2020-2030).
A significant portion of the revenue of the colloidal silica market is realized from the electronics & semiconductors industry. However, this industry is likely to witness a decline in the near term due to the coronavirus (COVID-19) pandemic that is spreading across the world. The onset of the pandemic has resulted in travel bans and isolations, uncertainties in the stock market, and massive disruption of the supply chain. As such, the pandemic would adversely impact the global electronics & semiconductor industry, and, in turn, hamper the growth of the global colloidal silica market.
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“Colloidal silica is gaining prominence as a chemical excipient in the pharmaceutical sector for synthesizing tablets such as paracetamol and animal medicines. Players in the colloidal silica market targeting pharmaceutical applications will be better placed for outsized returns.”
Key Takeaways from Global Colloidal Silica Market Study
- Acidic colloidal silica would remain sought-after, owing to its increasing application in electronics and semiconductors.
- In terms of consumption, Europe and North America are prominent regions; countries such as Belgium, the US, the Netherlands, Spain, Germany, France, and Italy are prime consumers of colloidal silica.
- The electronics & semiconductor industry would be the key revenue generator in the colloidal silica market, while the paints & coatings industry is offering growth avenues.
- Top-line growth of the global chemical industry is expected to augur well for the colloidal silica market.
- Colloidal silica is extensively used for investment casting as a slurry on base coatings such as zircon flour, and zircon sand, thus, offering further impetus to market growth over the coming years.
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Competitive Landscape
Players such as Nouryon Holding BV, Evonik Industries AG, Cabot Corporation, W. R. Grace & Co., Ecolab Inc., Merck Global, and The Dow Chemical Company have invested strategically in the colloidal silica market in the recent past, suggesting that, major manufactures are keeping tabs on the market, as it holds a lot of potential in the coming years. In addition, manufacturers such as Nouryon Holding BV and Evonik Industries AG are strategically increasing their market footprint by expanding their customer base in other regions. R&D, coupled with expansion of production capacity and footprint, remains the differentiating strategy followed by colloidal silica manufacturers to enhance productivity and capture new market opportunities.