Aug 31, 2017 SOURCE: BusinessWire

Silica Gel Market in the GCC Region - Forecasts and Analysis by Technavio

According to the latest market study released by Technavio, the silica gel market in the GCC region is expected to grow at a CAGR of more than 7% during the forecast period.

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Technavio has published a new report on the silica gel market in the GCC region from 2017-2021. (Graphic: Business Wire)

This research report titled ‘Silica Gel Market in the GCC Region 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The silica gel market in the GCC region is expected to grow at a considerable pace during the forecast period owing to the increased demand for silica gel from the oil and gas, and petrochemical end-user industries. Vendors operating in the market are increasing their production capacity to expand their silica gel businesses and to grasp untapped market opportunities. W. R. Grace, for instance, has increased its production capacity at the sites in Sorocaba (Brazil) and Kuantan (Malaysia). Players are expanding to cater to the increasing demand for silica gel in the region.

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Technavio’s chemicals and materials research analysts categorize the silica gel market in the GCC region into the following segments by end-user. They are:

Oil and gas
Petrochemical
Pharmaceutical
Others

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The top three revenue-generating end-user segments of the silica gel market in the GCC region are discussed below:

Oil and gas

In 2016, the oil and gas industry dominated the silica gel market in the GCC region, and will likely register the fastest growth rate during the forecast period due to the substantial growth in demand for oil and gas globally. Silica gel is primarily used to remove hydrocarbons and water molecules from natural gas, carbon dioxide, and other related petroleum gases.

According to Ajay Adhikari, a lead metals and minerals research analyst from Technavio, “Silica gel is mainly required where low dew points are essential in systems. Silica gels and molecular sieves are commonly used desiccants in the oil and gas industry. Silica gel is commonly used as a dehydrating and dehumidifying agent since it is a highly absorbent material.”

Petrochemical

Silica gel is widely used in the refining and processing of natural gas and petrochemicals. It is primarily used to eliminate the impurities and moisture in crude oil and petrochemical products. Granular and beaded silica gel are the most commonly used forms of silica gel in the petrochemical industry.

“Silica gel is primarily used for the dehumidification process of air and instruments in petroleum and petrochemical plants. The petrochemical industry is predicted to grow over the next five years, and this factor will likely have a positive impact on the consumption of silica gel in this industry. Further, silica gel is used to eliminate carbon dioxide and impurities from gas and petrochemical products,” adds Ajay.

Pharmaceutical

Packets of silica gel are used in closed pharmaceutical boxes and containers to control the moisture content, thereby enhancing the shelf life of the pharmaceutical products. Silica gel also prevents chemicals in capsules or tablets from becoming reactive in the presence of moisture. Its use as an absorbent material in pharmaceutical tablets and containers has been approved by the US Food and Drug Administration (FDA).

One of the best features of silica gel is that it can be regenerated by heating in a furnace, which can then be reused. It can easily absorb the moisture of about 30%-40% of its weight. In the pharmaceutical industry, it is widely used in tubes, vials, foam plugs, oxygen absorbers, and capsules packed in containers.

The top vendors highlighted by Technavio’s research analysts in this report are:

BASF
Clariant
Evonik
W. R. Grace
Zeochem

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