Specialty Silica Market
Specialty Silica Market Abstract:
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 is growing rapidly due to rise in demand from industries where its application is more such as rubber, electronic components, agriculture, paints & coatings, food & beverage, personal care & cosmetics and others. Rubber industry is the major application segment of global specialty silica market owing to usage of rubber in industrial tools, automotive tires and equipment’s. Rise in demand of green tires in countries like North America and Europe drives the specialty silica market growth and is expected to continue this in future.
Other applications such as paints & coatings and personal care & cosmetics is also expected to drive the demand for specialty silica market in future owing to properties of silica such as acting as a catalyst, absorbents and abrasive.
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Specialty Silica Market Application:
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 is mainly used as an in tires for improving its capability of being used continuously and reducing emission of carbon. It’s also used in newly innovated green tires which helps automobile industry to improve vehicle’s performance through less consumption of fuel. Moreover, for production of green tires, specialty silica is used in the automobile industry which drives the market growth and is expected to continue doing this in future as well. Electronic industry has increased the usage of specialty silica as it is being used in manufacturing capacitors and circuits along with these it is also used to absorb moisture from electronic components; all these are driving the global specialty silica market.
Specialty Silica is found in silicon dioxide which is available in market as precipitated silica, fumed silica, silica gel, fused silica and colloidal silica. Applications of these are numerous according to different purposes. Specialty silica is highly preferred for manufacturing tires owing to reduce emission of carbon. It acts as performance additive in tires leading to achieve lower rolling resistance. Thus, allowing vehicle to run smoothly with prevents less consumption of fuel. In personal care & cosmetics, specialty silica provides UV protection and acts as matting agent to protect skin. Other application like food & beverages, it acts as anti-caking agents and helps impurities from entering food. All these properties of specialty silica are expected to have a positive impact on the growth of the growth over the forecasted period.
Specialty Silica Market owing to numerous application of precipitated in tires, food & beverages, rubber and cosmetics. It acts as a clarification agent in beer, acts as an anticaking agent, and is also used as UV protection in personal care products and reduce impurities in food. Owing to wide application of precipitated silica, the market for the same is growing. Fumed silica is used in paints & coatings and electronic components such as ceramic capacitors and circuits boards. Growth of the paint & coating industry due to rise in construction and infrastructure development in countries like China and India is expected to positively impact this market growth in future. Colloidal silica and fused silica are other two key products segment of specialty silica which are used in refractories and are highly expensive in nature. Buyers of this market are looking out for alternative such as silica gel which can substitute specialty silica maintaining the efficiency in spite of being available at low cost. Buyers who are looking for all these, their demand can negatively impact the demand for colloidal silica and fused silica. On the other hand, substitutes like silica gel which are not only cheaper but easy to procure are largely preferred by small and medium size buyers.
Specialty Silica Market Key Players:
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:
Asia Pacific accounts for the largest share of global specialty silica market. Rapid industrializations, favourable government regulations and increase in consumer spending will significantly grow the specialty silica market in emerging economies such as China, India and Japan. Growing construction and infrastructure developments leading to increase use of paints & coatings which is key application of specialty silica market. Europe forecasted a significant growth owing to the robust growth of automobile industry in Germany and is expected to show a favourable growth in the coming years. Changing lifestyle of consumer and increase in government’s spending in food and healthcare has pushed the demand for specialty silica in UK and France.
Specialty silica market is driven by high demand of green tires as it enhances the performance of vehicles and reduces carbon emission, and this is expected to increase the demand of specialty silica market in North America. R&D expenditure to develop new products is expanding at a rapid pace in US owing to increase in automobile, personal care & cosmetics and electronic industry.
Specialty Silica Market Competitive Landscape:
Specialty Silica report analyses the degree of competition among the major players as well as industry growth and market scenario. The global specialty silica market includes various players operating in the market which comprised of large scale and medium size producers. The important market players operating in the global specialty silica industry is focusing towards growth association specifically by Asia Pacific as medium scale and small scale producers are from this region specifically from China, South Korea, India, Indonesia, Thailand, Taiwan, Malaysia, and Japan. In addition, the key operating players are focusing on extending their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Some of the companies are expanding their production capacity of specialty silica to meet the increasing demand for specialty silica.
Specialty Silica Market Segmentation:
Specialty Silica Market is majorly segmented on the basis of product types and application. Based on types of specialty silica, the market is segmented into precipitated silica, fused silica, fumed silica, silica gel, colloidal silica. Similarly, on the basis of application the market is classified into rubber, electronic components, agriculture, paints & coatings, food & beverage, personal care & cosmetics and others.
Specialty Silica Market Table of Content:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain of Global Specialty Silica Market
5 Industry Overview of Global Specialty Silica Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
5.5 Impact Analysis
Specialty Silica Market Table of Content to be Content…….,
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