Specialty Silica Market Overview:
Specialty Silica Market in USD 5.1 Billion and is expected to grow at the CAGR of 6.1% between which has started since 2018 and is expected to continue till 2022.
Specialty Silica Market Key Players:
Rising R&D investments coupled with new product development for manufacturing cost effective product is benefitting players in various regions. The Key players of global specialty silica market are;
• Evonik Industries,
• Akzo Nobel N.V.,
• Cabot Corporation,
• Wacker Chemie AG,
• PPG Industries, Inc.,
• Huber Engineered Materials,
• Solvay S.A.,
• W. R. Grace & Co.,
• Nalco Holding Company,
• Madhu Silica Private Limited and others.
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Specialty Silica Market Regional Analysis:
Geographically, Asia Pacific emerged as the largest market for specialty silica in 2018 and is expected to retain its dominance over the assessment years on account of rising demand from automotive, construction, and food & beverage sector specifically in China, India, Japan, Vietnam, Thailand, Taiwan, and South Korea. Furthermore, economic growth in this region along with rapid industrialization has enabled greater production and sales of passenger as well as commercial vehicles. Furthermore, increased investment by major operating players in their R&D activities and shifting of specialty silica production facilities as well as significantly growing end use industries in this region is expected to drive the specialty silica regional market growth.
North American market is predicted to witness steady growth on account of increasing demand from pharmaceutical sector. In North America, U.S. and Canada are among the major contributor in the regional market growth due to strong growth of food & beverage and cosmetic industry. Europe is estimated to witness steady growth due to increasing automotive production and sales in various countries such as Germany, Italy, and UK. The Middle Eastern & African market is estimated to register above average growth due to rising demand for personal care and cosmetic products specifically in Qatar, Turkey, the United Arab Emirates, Oman, and Saudi Arabia. Latin American countries such as Brazil, Argentina, and Mexico are predicted to register moderate growth on account of rising disposable income along with strong consumer base for automotive industry.
Specialty Silica Market Segmentation:
Specialty Silica are predominantly utilized in various application such as paints & coatings, food & beverage, electronic components, agriculture, rubber, personal care & cosmetics, and others. Specialty Silica market is predicted to witness moderate growth on account of continuous growth of automotive sector and paints & coatings industry. Among product type segment, precipitated silica is expected to register strong growth in the near future due to their usage in cosmetics, oral care, rubber, food & beverage, and automotive tires. Furthermore, increasing construction activities along with rising consumption of paints & coatings is estimated to increase the demand for specialty silica.
Specialty Silica Market Table of Content to be Content…….,
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