Global Colloidal Silica Market Competition and Status: Market Size Will Hit $224.13 Million in 2024

Global Colloidal Silica Market Overview

According to Global Market Monitor, the global colloidal silica market size will reach $224.13 million in 2024 with a CAGR of 5.19% from 2024 to 2029.

Modified colloidal silica refers to a kind of material that modifies the surface of ordinary colloidal silica by chemical or physical methods to make it have better dispersibility, stability, and reinforcement. Modified colloidal silica is widely used in investment casting, catalysts, textiles and fabrics, refractories, polishing, paints and coatings, and other fields, which can improve the performance and quality of products.

Increasing Demand from Downstream Industries

Rising demand from downstream industries is one of the key factors driving the growth of the modified colloidal silica market. Modified colloidal silica is widely used in investment casting, catalysts, textiles and fabrics, refractory materials, electronic polishing, paints, and coatings, and these downstream industries are the main consumers of modified colloidal silica. As more and more people understand the benefits of modified colloidal silica, the demand for modified colloidal silica across different end-use industries is expected to grow over the forecast period.

For example, there is a growing demand for modified colloidal silica in the electronics and semiconductor industries. Japan's Ministry of Economy, Trade and Industry has launched a plan called "Vision 2030: Japan's Strategy for the Next Decades," focusing on the development of innovative optoelectronic applications. In addition, modified colloidal silica is used in the production of high-strength concrete and cementitious products. Growing demand for environmentally friendly and sustainable construction materials is driving the demand for modified colloidal silica in the construction industry.

Nouryon approximately 7,650 employees worldwide help to provide essential solutions that their customers use to manufacture everyday products such as personal care, cleaning, paints and coatings, agriculture and food, pharmaceuticals, and building products. They forge and foster long- term customer partnerships and operate in more than 80 countries around the world.

2023 Performance Overview

Nouryon achieved $5.19 billion sales value in 2023, down 10% year-over-year, primarily due to lower volume, partially offset by positive contributions from price and acquisitions. It also completed the acquisition of ADOB, broadening its crop nutrition portfolio. In 2023, Nouryon received a global Climate Leadership score of A- from CDP, which is considered the gold standard for environmental reporting and has the world's most comprehensive collection of corporate environmental data.

Company Name	Nouryon
Website	www.nouryon.com
Established Time	2018
Plants Distribution	North America, South America, Europe, Australia, and Asia
Sales Region	Worldwide