LONDON--(BUSINESS WIRE)--The silica fume market in India is expected to post a CAGR of over 5% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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, rapid increase in industrialization and international trade activities will drive the demand for silica fume in India during the forecast period.
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As per Technavio, the increasing use of silica fume in self-compacting concrete will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Silica Fume Market in India: Use of Silica Fume in Self-Compacting Concrete
Self-compacting concrete offers attractive benefits which has 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. Thus, the growing use of silica fume in self-compacting concrete is likely to boost the growth of silica fume market in India during the forecast period.
“Increasing adoption of smart concrete, and growing popularity of geopolymer cement concrete are a few other factors that will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Silica Fume Market in India: Segmentation Analysis
This market report segments the silica fume market in India by application (construction, marine, oil and gas, and others) and source (silicon metal and ferrosilicon).
The construction application segment led the silica fume market share in India in 2019, followed by marine, oil and gas, and other applications, respectively. The construction segment will account for the highest incremental growth due to the increasing adoption of silica fume in construction industry to provide durability and damage resistance. It imparts durability by providing corrosion resistance against chemical salts and iron attacks.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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