The global High Purity Silica Market is projected to driven by growing semiconductor industry

 
High Purity Silica Market

High purity silica or fumed silica finds extensive usage in manufacturing semiconductors due to its high purity levels and ability to disperse well. It is used as an additive in chemical mechanical planarization slurries, dielectric films, and photoresist films in semiconductor manufacturing. Growing demand for electronics and requirement of more compact and powerful electronic devices is propelling the semiconductor industry. This in turn is augmenting the need for high purity silica.

The global High Purity Silica Market is estimated to be valued at US$ 8.64 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

High purity silica has unique properties such as chemical inertness and resistance to high temperatures which make it suitable for applications requiring these attributes. It is widely used as a reinforcing, extending, and thickening agent in resins, rubber, paints, and coatings. In pharmaceuticals industry, it is utilized as an excipient or glidant for tableting. Other applications include catalysts, food additives, dental bonding, metal casting, etc. With growth of end use industries, demand for high purity silica is expected to rise at a healthy rate during the forecast period.

Market key trends:
Growing use in lithium-ion batteries is a key trend in the high purity silica market. Manufacturers are using fumed silica in lithium-ion batteries as a thickening agent in the electrolyte as well as an additive to the separator. Its usage helps in enhanced cycling stability and longer battery life. Increasing production of electric vehicles and focus on development of advanced lithium-ion batteries with high energy density is propelling consumption of fumed silica in this application.


Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate in the high purity silica market due to high capital requirements and various technological barriers.

Bargaining power of buyers: The bargaining power of buyers is high given the availability of substitutes such as glass frits.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are several suppliers of raw materials globally.

Threat of new substitutes: The threat of substitutes such as glass frits is moderate as they cannot match purity levels of high purity silica.

Competitive rivalry: Competition is high among existing players such as Aisin due to their global presence.

Key Takeaways

The Global High Purity Silica Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. The global High Purity Silica Market is estimated to be valued at US$ 8.64 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.

Asia Pacific region primarily due to high presence of electronics industries in countries such as China, Taiwan and South Korea. The region accounts for over 40% of share of the global high purity silica market in 2023.

Key players operating in the high purity silica market are Aisin. The key players focus on enhancing production capacities and expansion into emerging regions to consolidate their positions in the competitive market.

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