COVID-19 Analysis on Silica Gel Market Overview, Growth Factors, Demand, Trends and Forecast 2023

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Regional Overview:

Global Silica Gel Market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, North America holds the major share of the global market and is projected to continue leading owing to the increasing consumption of Silica Gel in the developed pharmaceutical sector. Moreover, the shale boom, especially in the U.S., has augmented the demand for the Silica Gel owing to its use in refining and processing of natural gas and petrochemicals.

Moreover, it is an important part of the dehumidification process of instruments in the petroleum and petrochemical plants. The U.S and Canada are the major countries driving the demand for silica gel in the region. Additionally, the approval from the Food and Drug Administration (FDA) for the usage of Silica Gel in medicines and containers is further expected to significantly boost the market growth.

The Asia Pacific market is expected to grow at a higher CAGR. The burgeoning growth in the packaging industry of the developing economies of the region is the major factor attributing to the market growth. Moreover, to cater the growing consumer base, the medium and large players are constantly investing in logistics. Therefore, it is propelling the packaging sector and is adding fuel to the market growth. Furthermore, to counter the adverse effect of moisture and to increase the shelf life of the products, the pharmaceutical and food and beverage industries are increasing the use of silica gel in the packaging of products. India, China, and Japan are the major countries accounted for the growth of the market.

Europe is another major region in the Global Silica Gel Market and is expected to show a considerable growth over the forecast period. The presence of the major cosmetic and personal care manufacturers in the region is driving the market growth. Germany, France, and the United Kingdom are some of the major countries contributing extensively to the market growth.

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A considerable development is expected in the Middle East and Africa over the coming years. The developing oil and gas and petrochemical industries are adding fuel to the market growth. Moreover, increasing government participation for the production of crude oil in large quantity is further expected to increase the market growth. Furthermore, the growing demand for personal care and cosmetics, especially in Saudi Arabia, is expected to amplify the demand of the product.

Segmentation:

Global Silica Gel Market is segmented into Type, Application and End-Use.

On the basis of Type, the market is segregated into Type A, Type B, Type C, silica-alumina gel, and others.

The market by Application is sub-divided into desiccant, chromatography, food additives, water filtration, and others.

Based on the End User, it is further categorized into oil and gas, pharmaceutical, chemical, cosmetic and healthcare, and others.

Competitive Analysis:

Some of the prominent players operating in the Global Silica Gel Market are are Evonik Industries (Germany), Clariant (Switzerland), Solvay (Belgium), Merck Group (Germany), China National Bluestar Company Limited (China), Fuji Silysia Chemical (China), Nissan Chemical Industries (Japan), DowDuPont (U.S.), Qingdao Haiyang Chemical (China) and Millennium Chemicals (U.S.). among others.

Market Analysis:

Silica Gel is used in a wide variety of applications due to their capability of offering a superior and cheap source of desiccant to various end-use industries such as packaging of pharmaceuticals, paints and coatings and water filtration plants among others. The allochroic Silica Gel has the ability to change its color when absorbed moisture from the environment. Therefore, it is suitable for the extensive use of the power systems and transformers.

COVID-19 Study in Detail:

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NOTE: Our team of researchers is studying COVID-19 and its impact on various industry verticals and wherever required we will be considering COVID-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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