According to a report, “Specialty Silica Market Size, Share & Trends Analysis Report By Product (Precipitated, Silica Gel, Colloidal, Fumed), By Application (Rubber, Paints & Coatings, Food), And Segment Forecasts, 2019 – 2025″, published by Grand View Research, Inc.,The global specialty silica market size is anticipated to reach USD 11.43 billion by 2025,It is anticipated to register a CAGR of 9.4% during the forecast period. Rising demand from rubber, food, healthcare, and coatings industries is the significant factor influencing the market growth.
Precipitated silica and carbon black are the major ingredients used as reinforcing filler in tires to improve adhesion and to enhance tire tread wear resistance. Currently, precipitated silica is used in conjunction with carbon black as a reinforcing filler for tires. However, the trend is shifting towards the complete replacement of carbon black by precipitated silica, owing to the eco-friendly nature and superior performance delivered by the latter.
Key Takeaways from the report:
Rubber led the market in 2018 with a revenue share of 29.2% owing to extensive utilization of precipitated silica in reinforcement of rubbers
In terms of volume, precipitated silica acquired the highest market share of around 66.3% in 2018, owing to its wide application scope in rubber, food and healthcare, plastic, abrasive, and coatings
In terms of revenue, coatings application is estimated to witness the fastest CAGR of 11.2% as a result of expanding construction sector in Asia Pacific
Asia Pacific was the largest regional market with a revenue share of 40.0% in 2018 owing to rapid production of tires and construction activity in the region
Evonik Industries, Cabot Corporation, Akzo Nobel N.V., PPG Industries, and Solvay SA are among the top manufacturers in the specialty silica market. Price modification owing to volatility in raw material prices and capacity expansion on account of rising demand and are the key strategies adopted by the top players.
Specialty silica is widely employed in the manufacturing of green tires. Silica-filled tires are widely used as they aid in decreasing rolling resistance of an automotive which results in improved mileage and better handling. Rising demand for green tires, particularly from Asia Pacific, North America, and Europe is expected to have a positive impact on the market over the next seven years.
The product is used as non-reactive filler on account of its high absorption capacity and large surface area. It is used as thickening and reinforcing agent in adhesives. It has profound usage in conveyor as well transmission belts, wherein it provides abrasion resistance, high tensile strength, and improves tear resistance. Specialty silica is also utilized to eliminate caking tendency and to improve powder flowability, stability during storage, and the productivity of agrochemical products. It also finds application in food industry as a flavor carrier. This, in turn, is projected to drive the growth in near future.
The market is expected to foresee highest penetration in the coatings industry. Fumed silica is primarily utilized in paints and coatings as an anti-settling and a thixotroping agent to control rheological characteristics and to help resist rust and corrosion. Products like fumed silica must be added in concentrations between 0.5% and 2% for coatings application.
The competitive landscape of the specialty silica market reflects a number of companies currently engaging in capacity extensions to enhance their market position. For instance, in October 2018, Evonik started a precipitated silica plant in South Carolina to meet the increasing demand from tire industry in North America.
Rubber held the largest market share of 29.2% in terms of revenue in 2018. The global rubber industry has witnessed high growth over the past decade and the trend is expected to continue over the forecast period owing to the increasing level of consumer satisfaction in terms of the improved gas mileage.
Paints and coatings is anticipated to be the fastest growing application with a CAGR of 11.2 % over the forecast period. Fumed silica in primarily used in coatings as thixotroping and an antisetlling agent to prevent rust and corrosion. Widespread urbanization, massive infrastructure developments, and rising population coupled with increasing disposable income are the significant factors driving growth of coatings industry.
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Asia pacific held the dominant market share of 40.0% in terms of revenue in 2018. Furthermore, it is estimated to be the fastest growing regional market over the forecast period. China, Japan, and India are the key countries driving the regional growth. Rubber application led the Asia Pacific market owing to rising demand from tire manufacturers. Aggressive expansion from tire manufacturers, is predicted to positively affect the regional growth.
North America was the second largest contributor with a market share of 23.8% in 2018. Growing demand for vehicles is expected to propel the production of tires, which, in turn, is likely to propel the product demand in the region.
The European regulations regarding the lowering of Volatile Organic Compounds (VOC) emissions in paints and coatings industry are expected to propel the demand for eco-friendly specialty silica over the forecast period.
Central and South America is anticipated to witness high growth over the forecast period. The growing automobile industry particularly in Argentina, Chile, and Brazil, is predicted to have a positive impact on the growth in the forthcoming years while increasing recovery of construction sector is expected to boost demand for coatings and thereby influence the regional product demand.
Grand View Research has segmented the global specialty silica market on the basis of product, application, and region:
Specialty Silica Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Specialty Silica Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Paints & Coatings
Specialty Silica Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Central & South America
Middle East & Africa
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