Silica Fume Market in India by Application and Source - Forecast and Analysis 2020-2024
Silica Fume Market in India: About this market
Technavio’s silica fume market in India analysis considers sales from construction, marine, oil and gas, and other applications. Our study also finds the sales of silica fume from silicon metal and ferrosilicon sources. In 2019, the construction segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as providing durability and damage resistance to structures will play a significant role in the construction segment to maintain its market position. Also, our silica fume market in India report looks at factors such as increase in number of residential projects, infrastructure development driving need for silica fume, and growing industrialization and rising international trade. However, high price of silica fume, easy availability of substitutes, and health hazards of silica fume may hamper the growth of the silica fume market in India over the forecast period.
Silica Fume Market in India: Overview
Growing industrialization and rising international trade
Growing industrialization and rising international trade in India are leading to the growth of various end-user industries including construction, automotive, chemical, infrastructure development, and manufacturing industry, which in turn will lead to the increase in demand for silica fume. Moreover, growing investments from the government for deployment of sustainable and environment-friendly practices for production will drive growth. Furthermore, the use of silica fume in the packaging industry is also likely to surge with the consistent growth of the e-commerce industry in India. Thus, the rapid increase in industrialization and international trade activities will lead to the expansion of the silica fume market in India at a CAGR of over 5% during the forecast period.
Use of silica fume in self-compacting concrete
Self-compacting concrete offers attractive benefits which have led to an increase in demand for self-compacting concrete from small and medium-scale manufacturing units. Self-compacting concrete is a feasible option as it has thin concrete sections, improved durability, high design freedom, convenient placing, and fast construction. Furthermore, the use of silica fume in self-compacting concrete helps to improve air quality while minimizing the cost of maintenance, repair, and operation. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the silica fume market in India during the forecast period 2020-2024, click here.
With the presence of a few major players, the silica fume market in India is highly concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading manufacturers, that include BanFam Merchants Pvt. Ltd., Choice Organochem LLP, Dalian Fuchang Chemical Co. Ltd., Guru Corp., JAYCEE Resources Pvt. Ltd., N K Enterprise, Oriental Trexim Pvt. Ltd., Rockfit Corp., Sika AG, and WUHAN NEWREACH MICROSILICA Co. Ltd.
Also, the silica fume market in India analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook