Specialty Silica Market:
Global Specialty silica market was valued at USD 5.1 billion in 2016 after growing at a CAGR of 6.1% from 2016 to 2022.
GLobal Specialty silica market is growing steadily with various applications of the same in rubber, paints & coatings, agriculture, personal care & cosmetics, food & beverage, electronic components and others. With such wide application, automobile industry will always be the top application segment for specialty silica owing to production of tires and efforts taken towards reducing carbon emission. In addition, growing concern of depletion of fossil fuels and strict emission rules, automotive industries are shifting to use green tires that will have positive impact on global specialty silica market. However, the market will be restraint by factors such as high cost of colloidal silica and availability of low cost substitutes during the forecasted period 2022. Specialty silica shows cyclical behavior. So, low cost substitute will affect the continuity of profit margin and revenue generation which is a major challenge for manufacturers in specialty silica.
Global Specialty Silica consist of five basic types silica which includes precipitated silica, fused silica, fumed silica, silica gel and colloidal silica which are extensively used in end user industries such as rubber, agriculture, paints & coatings, electronic components, personal care & cosmetics and others. Rising demand for specialty silica in personal care & cosmetics products owing to its properties such as anticaking, UV protecting and dispersive nature will push the specialty silica market in future.
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Geographically, APAC region dominates the global specialty silica market. Rising automobile industry has led to rise in production of tires which in turn has positive impact on global specialty silica market. Countries like China, India and South Korea are using specialty silica at a high rate owing to developing infrastructure and electronic industry. Therefore, it provides bigger opportunities to manufacturers of specialty silica in developing economies. It is forecasted that the growth of this market is very high in North America owing to rise in demand for cosmetics and food & beverage industries.
Data integration and capabilities are analyzed to support the findings and study the predicted geographical segmentations. Various key variables and regression models were considered to calculate the trajectory of specialty silica market. Detailed analysis is explained and given importance to with best working models.
Geographically, the segmentation is done into several key regions like North America, Middle East & Africa, Asia Pacific, Europe and Latin America. The production, consumption, revenue, shares in mill UDS, growth rate of specialty silica market during the forecast period to 2025 is well explained.
The ongoing market trends of specialty silica market and the key factors impacting the growth prospects are elucidated. With increase in the trend, the factors affecting the trend are mentioned with perfect reasons. Top manufactures, price, revenue, market share are explained to give a depth of idea on the competitive side.
Akzo Nobel N.V.,
Wacker Chemie AG,
PPG Industries, Inc.,
Huber Engineered Materials, Solvay S.A.,
W. R. Grace & Co.,
Nalco Holding Company,
Madhu Silica Private Limited.
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