Silica Gel Market is dominating by Oil and Gas, Pharmaceutical, Petrochemical Sector across the world till 2023

Market Overview:
Silica Gel is used in the packaging of pharmaceuticals, cosmetic, and personal care products due to its excellent properties to absorb moisture and prevent product spoilage thereby increasing the shelf life of the product. Moreover, silica gel also has a wide application in water filtration facilities, petrochemical, and oil and gas industry.
The global silica gel market has been driven by a range application in various sectors such as packaging of pharmaceuticals, food and beverages, and oil and gas among others. Moreover, it is estimated that the desiccant application segment is set to witness the highest growth in the market due to the growing consumption of silica gel in packaging, paint and coatings and electronics during the forecast period, 2017-2023.

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Market Segmentation:
The global Silica Gel Market is segregated into: Product type, Application type and End-use. On the basis of the product type, the market is further categorized into type A, Type B, Type C, Silica-alumina gel, and other segments. On the basis of the application type, the market is segmented into desiccant, chromatography, food additives, water filtration, and other segments. On the basis of the end-user, the market is classified as oil and gas, pharmaceutical, petrochemical, cosmetic and healthcare, others.

Major Key Players:
Some of the Top Key Players operating in the global Silica Gel Market are:
• DowDuPont (U.S.),
• Qingdao Haiyang Chemical (China),
• Millennium Chemicals (U.S.)
• Evonik Ind. (Germany),
• Clariant (Switzerland),
• China National Bluestar Company Ltd. (China),
• Fuji Silysia Chemical (China),
• Solvay (Belgium),
• Merck Group (Germany),
• Nissan Chemical Ind. (Japan)

Regional Analysis:
The global Silica Gel Market is spanned across Five Key Regions:
• Asia Pacific,
• North America,
• Europe,
• Latin America,
• Middle East & Africa.
North America holds the major portion of the global market and is anticipated to continue its dominance due to rising demand for silica gel from various developed end-user industries such as pharmaceuticals and healthcare. Moreover, the encouraging government regulations and investments in the healthcare and food and beverage are expected to contribute to the growth of the market.
Asia Pacific is the fastest growing market and is expected to grow at the higher CAGR during the forecast years. The growing GDP coupled with the increasing government investment has augmented various end-user industries such as pharmaceuticals, cosmetic and health care, which is boosting the market demand for silica gel in the developing economies in the region.
The European region is estimated to witness a significant growth in the countries owing to the presence of the well-developed cosmetic and personal care industry. The excellent properties of silica gel for absorbing moisture has paved the way to the packaging of cosmetics and electronics industries among others. Thus, it is creating immense demand for the product.
The Middle East & Africa is estimated to observe a considerable growth due to increasing consumption of silica gel in their dominant oil and gas and petrochemical industry. The favorable government participation and the expansion of oil field in the region is the driving factor of the market.

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