The introduction of silica gel in the biotech industry is being driven by the rising demand for biopharmaceuticals and the requirement for cutting-edge purification technologies.
The Silica Gel Market was valued at USD 49.35 billion in 2022 and is expected to reach USD 76.56 billion in 2032 registering a CAGR of 5% during the forecast period. The demand for silica gel in the pharmaceutical and biotech industries is rising for a variety of uses, including desiccant, excipient, and adsorbent. This is the main factor driving market expansion. The industry’s adoption of silica gel is being driven by the increased focus on pharmaceutical product quality and the necessity to preserve their stability.
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Major Companies:
The global Silica gel market is a growing industry with a number of major players accounting for a significant portion of market revenue. These players are adopting various strategies such as mergers and acquisitions, partnerships and collaborations, product launches, and expansions in order to strengthen their market position. Some major companies included in the global Silica gel market report are:
- Fuji Silysia Chemical Ltd.
- Evonik Industries AG
- W.R. Grace & Co.
- PQ Corporation
- Solvay S.A.
- Merck KGaA
- Cabot Corporation
- Huber Engineered Materials
- Tosoh Corporation
- AkzoNobel N.V.
Some Key Highlights from the Report
In 2022, colloidal silica accounted for a sizable revenue share. Colloidal silica’s unique physical and chemical properties make it an essential ingredient in many pharmaceutical formulations. Colloidal silica is used in creams, lotions, and gels as a thickening agent, as well as a dispersing agent in suspensions, emulsions, and powders. It can also act as a pH stabilizer and aid in the control of the release of Active Pharmaceutical Ingredients (APIs) in oral drug delivery systems. These benefits are increasing demand for colloidal silica in the pharmaceutical industry, resulting in revenue growth.
The drug carrier segment contributed a significant revenue share to the global Silica gel market in 2022. Silica gel is the best way to transport drugs that are difficult to dissolve in water, such as poorly water-soluble drugs. It aids in increasing the solubility and bioavailability of these medications, thereby increasing their effectiveness. Silica gel can be used to create sustained-release formulations that deliver consistent medication release over a long period of time. It can also be used to develop customized drug delivery systems that deliver medications to specific locations in the body, reducing the possibility of unwanted side effects.
Key questions addressed in the report:
- What is the expected market size of the global Silica Gel market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Silica Gel market?
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Silica Gel Market Segmentation:
By Type Outlook:
- Colloidal silica
- Fumed silica
- Mesoporous silica
- Microporous silica
- Macro-porous silica
- Others
By Application Outlook:
- Drug carrier
- Desiccant
- Adsorbent
- Excipient
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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