Nanosilica Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2020-2024
Technavio has been monitoring the nanosilica market and it is expected to grow by $ 1.63 bn, accelerating at a CAGR of almost 7% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Nanosilica Market: Key Trends to impact market growth
The Growing demand for nanosilica from developing countries is one of the key nanosilica market market trends. This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.
Nanosilica Market: Top Drivers to Boost Demand
The Growing demand for nanotechnology is one of the primary factors driving the growth of the nanosilica market. The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business
Vendor Analysis: Akzo Nobel NV, Bee Chems and Cabot Corp. are key growth contributors
The market is concentrated. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Akzo Nobel NV, Bee Chems, Cabot Corp., DuPont de Nemours Inc., Evonik Industries AG, Fuso Chemical Co. Ltd., nanoComposix, NanoPore Inc., Nanoshell Co., and Wacker Chemie AG are some of the major market participants.
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Nanosilica Market: Key Highlights of the Report for 2020-2024
Technavio has been monitoring the Global Nanosilica Market and it is expected to grow by USD 1.63 billion accelerating at a CAGR of over 7% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report
Nanosilica Market: Growing demand for nanotechnology to drive growth
One of the primary factors that will trigger the growth of the Nanosilica Market size is the increasing demand for nano-fertilizers. Farmers are adopting nano-fertilizers to increase crop yield, improve crop growth, enhance quality parameters, minimize fertilizer wastage, reduce cultivation costs, and limit the excessive use of chemical fertilizers. Nano-fertilizers are also environment-friendly and can be applied frequently in small amounts. Nanosilica is encapsulated nano-fertilizers and helps in improving the use of nutrients efficiently, reducing environmental impact, boosting plant productivity, and improving the plant’s resistance to stress. It also enables tailored fertilizer production with the desired chemical composition. Also, the combination of nano-fertilizers with nanodevices in the near future will allow synchronization of the release of nitrogen and potassium fertilizers into crops, thereby improving uptake by crops and preventing undesirable nutrient losses. With the increasing focus on environmental safety, sustainable agriculture, and economic stability, the demand for nano-fertilizers will grow substantially over the next five years.
The growing demand for nanotechnology will also contribute to the market growth. The use of nanotechnology is increasing in various applications, such as paints and coatings, concrete, and plastics because of its ability to enhance the performance of the applied surface. Nanoparticles, such as nanosilica, improve the hardness, UV resistivity, scratch resistance, and antistatic property of materials. The demand for nanocoatings is also increasing in the food packaging and pharmaceuticals industry because of the growing concern for health and hygiene among consumers. Moreover, nanocoatings are used in the aerospace industry to reduce aerodynamic drag and prevent safety hazards.
Nanosilica Market: Vendor Analysis
The market is concentrated due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Akzo Nobel NV, Bee Chems, Cabot Corp., DuPont de Nemours Inc., Evonik Industries AG, Fuso Chemical Co. Ltd., nanoComposix, NanoPore Inc., Nanoshell Co., and Wacker Chemie AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report