According to The Insight Partners' research, the North America Colloidal Silica Market was valued at US$ 158.5 Million in 2024 and is expected to reach US$ 209.2 Million by 2031, registering a CAGR of 4.0% from 2024 to 2031.
Growth of investment casting industry and product innovations are among the critical factors attributed to the North America colloidal silica market expansion.
Investment casting is one of the oldest metal-forming processes that have been in use to create complex castings, near-net-shape, and different materials. In this process, also known as precision casting or lost wax casting, a wax pattern is used to shape a disposable ceramic mold. A wax pattern that is made to match the exact shape of the object to be cast is coated with a refractory ceramic material. Colloidal silica is a popular binder used in the precision investment casting industry, as it serves as a safe, economical, easy-to-use slurry component that performs well as primary or backup slurry. This form of silica is highly stable and forms a long-life ceramic slurry with a broad range of refractory materials due to the chemical inertness of the binder.
Investment casting technology has evolved over time due to an upsurge in the need for precision components with complex geometries in different industries. Over the past decades, the investment casting industry has expanded with the scope of products manufactured with it. In addition, in January 2022, GM Motors invested US$ 51 million to upgrade its aluminum die-casting foundry in Southern Indiana to support the manufacturing of upcoming Chevrolet Silverado electric pickup vehicles. The main goals of investment casting include establishing a robust process window, saving costs by lowering scrap generation and rework, and producing precise castings according to the specifications.
The development of novel investment casting applications due to continuous innovations in the field is expected to favor the colloidal silica market. These applications involve the use of high-value castings made for industrial gas turbines, and aerospace and defense products. The market for investment casting also surges with the rising demand for power generation. As investment casting is one of the major applications of colloidal silica, the growth of the investment casting industry propels the colloidal silica market growth.
North America Colloidal Silica Market Segmentation Analysis:
- By Product Type, the market is segmented into Alkaline, Acidic, Modified, and Ordinary. The Alkaline segment is projected to expand at 4.5% CAGR during 2024-2031
- By Application, the market is segmented into Pulp and Paper, Building and Construction, Paints and Coatings, Metal Coatings, Ceramic Coatings, Others of Paints and Coatings, Electronics and Semiconductors, Pharmaceuticals, Investment Casting, Cosmetics, Household Products, and Others. The Investment Casting segment is projected to expand at 4.9% CAGR during 2024-2031
By country, the market is categorized into United States, Canada, Mexico. United States is projected to expand at 4.1% CAGR during 2024-2031.
Key players operating in the North America Colloidal Silica Market are Nissan Chemical Corporation, Ecolab Inc, Evonik Industries AG, Merck KGaA, STERLING CHEMICALS, W. R. Grace & Co, Cabot Corp, Nouryon Chemicals Holding BV, FUSO CHEMICAL CO., LTD., Fengchen Group Co.,Ltd, AMS Applied Material Solutions, JLK Industries, Sahajanand Industries Limited, Patalia Chem Industries, NYACOL Nano Technologies Inc among others.
- Jun-2024,Evonik Industries AG started the production of ultra-high purity colloidal silica for the semiconductor industry at its new facility in Weston, Michigan. The new facility is a strategic portfolio addition and a testament to the company's commitment to innovation and supply security for our customers in the semiconductor market.
Jan-2024,Nouryon Chemicals Holding BV completed a production capacity expansion of nearly 50% for its Levasil colloidal silica products at its Green Bay, Wisconsin, US manufacturing facility. The increase addresses the rising demand for colloidal silica, particularly in North America, and strategically expands the company's global colloidal silica manufacturing footprint to serve regional and international customers.
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