The global mesoporous silica market comprises materials with pores sized between 2-50 nm. Mesoporous silica finds applications as adsorbents, catalysts carriers, drug delivery carriers, and separation medium owing to their high surface area and pore volume. The rising demand for biomedical applications such as drug/gene delivery and biomedical imaging is driving the market growth. Mesoporous silica shows better biocompatibility and can encapsulate both hydrophilic and hydrophobic drugs, making it suitable for controlled and targeted drug release.
The Global mesoporous silica market is estimated to be valued at US$ 194.8 MN in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global Mesoporous Silica Market Demand are Merck KGaA, American Elements, nanoComposix, Inc., Taiyo International, Mitsubishi Chemical Corporation, MKnano, W.R. Grace & Co., AGC Chemicals Americas, Glantreo Ltd., ACS Material LLC. Merck KGaA and Mitsubishi Chemical Corporation hold majority of the market share owing to their early research and product development in the segment.
Key opportunities in the market include growing application in catalysis, enhanced oil recovery, separations, and biomedical imaging. Major players are actively investing in R&D to develop new applications of mesoporous silica and expand their geographical presence. For instance, American Elements has collaborations with various medical device companies and research institutes for developing silica-based drug carriers.
The global expansion of key players involves strategic partnerships and acquisitions to gain presence across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Furthermore, investments are being made to setup manufacturing plants in high growth regions such as China and India to cater to the growing local demand.
Market drivers: Growing biomedical applications due to high biocompatibility of mesoporous silica is a key market driver. Rising demand for controlled and targeted drug delivery systems is boosting the market growth.
Market restraints: High manufacturing costs and complex production processes are major challenges. Stringent regulatory approvals for new biomedical applications can also limit market growth.
Segment Analysis
The Global Mesoporous Silica Market can be segmented by product type, applications and end-use industries. By product type, the spherical segment currently dominates the market owing to its widespread application in catalysis and drug delivery which requires spherical particles for efficient working. Key applications of mesoporous silica include catalyst support, drug delivery, and food & beverages. The catalyst support segment accounts for a major share due to increasing demand from the petrochemical industry. The drug delivery segment is expected to witness robust growth in coming years due to growing adoption of mesoporous silica as carrier for anti-cancer drugs.
Global Analysis
Regionally, Asia Pacific dominates the global mesoporous silica market and the trend is likely to continue during the forecast period. This is mainly ascribed to fast-paced industrialization and rising demand from several end-use industries such as petrochemical, pharmaceutical, and agriculture, especially in China and India. North America holds a significant share in the global market, driven by growing research activities pertaining to novel applications of mesoporous silica. Meanwhile, Europe is anticipated to experience healthy growth supported by significant R&D investments in the pharmaceutical sector across Germany, UK, and France.
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