According to the latest report by Exactitude Consultancy, the global fumed silica market was valued at approximately USD 1.56 billion in 2024 and is projected to reach USD 2.57 billion by 2034, growing at a compound annual growth rate (CAGR) of 5.13%. This growth is primarily driven by the increasing demand for high-performance components in industries such as shipping, transportation, and coatings, as well as the continued expansion of the water-based coatings and industrial lubricants markets.