Evonik Industries and the Chinese company Wynca have agreed to form a joint venture. The new company, in which Evonik will hold 60 %, will produce fumed silica. The product is used in transparent silicones, coatings and paints, modern adhesives as well as non-combustible high-performance insulation materials.
The global market for fumed silica is growing at around 5 %, showing stronger growth than the global economy. Key drivers for the fumed silica market in China include the silicone industry for adhesives and sealants in buildings and cars as well as gel batteries such as those used in electric bikes. The joint venture will supplement the German company’s global network of production facilities for fumed silica, while the Chinese partner plans to further expand its business with silicon-based products.