Top Factors Driving the Global Silica Fume Market| Technavio

Technavio market research analysts forecast the global silica fume market to grow at a CAGR of over 4% during the period 2018-2022, according to their latest report.

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This market research report segments the global silica fume market into the following applications, including construction, marine, and oil and gas and key regions, including the Americas, APAC, and EMEA.

In this report, Technavio highlights the use of silica fume in self-compacting concrete (SCC) as one of the key emerging trends driving the global silica fume market. SCC is described as a concrete mix that can be placed completely by means of its own weight and with little or no vibration. SCC, as a high-performance concrete, delivers attractive benefits while maintaining the concrete's durability and mechanical characteristics. SCC mix can be sensitive to fluctuations in material properties and batching accuracy, leading to issues of segregation.

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In this report, Technavio analysts highlight the growth of the building and construction sector as a key factor contributing to the growth of the global silica fume market:

Growth of the building and construction sector

By 2020, the global construction industry is estimated to generate a revenue of USD 10.3 trillion. Regions such as APAC has the highest number of emerging economies such as Indonesia, China, India, Japan, and the Philippines. Additionally, in terms of infrastructure and development, Vietnam and Malaysia are considered potential emerging markets. Such emerging markets compete for the development of high-quality infrastructure. In Europe and North America, the quality of infrastructure is considered good, showing the proper coordination and proper planning between the public and private sector players. Such factors aid in attracting investments from other countries to help the rehabilitation and reconstruction of existing structures.

According to a senior analyst at Technavio for specialty chemicals, “The increased usage of silica fumes to produce concrete to improve its properties will drive growth in the construction industry, which, in turn, will drive growth in the global silica fume market during the forecast period. In emerging markets, the construction industry is expected to grow at a faster rate than the advanced economies due to the increase in residential projects, where population growth has been increasing over the last few years.”

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Global silica fume market segmentation

Of the three major applications, the construction segment held the largest market share in 2017, accounting for nearly 39% share. The market share for this application is expected to decrease nearly 2% by 2022. The fastest growing application is oil and gas, which will account for nearly 21% of the total market share by 2022.

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