Industry/ Innovation/ Related News:
June 2017- The European Commission approved acquisition of Huber Silica by Evonik Industries. With this acquisition Evonik Industries will expand its presence in Europe and the Middle East and Africa.
March 2017- PPG Industries made an agreement with KRAHN CHEMIE for the distribution of precipitated silica products in Poland. With this agreement, the company strengthen its position in the distribution network in Poland.
February 2017- AksharChem India Ltd announced to invest INR 65 Crores to expand its portfolio of inorganic product such as precipitated silica. With this expansion company will be able to supply more to end use industries such as Rubber, Tyre, and Food.
May 2017- Tata Chemicals acquired precipitated silica operation from Unnati inorganics Private Limited. The company take over the operation at existing production site in Dahej which will manufacture highly dispersible silica (HDS). This acquisition represent a value addition to company’s specialty chemical business.
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The Precipitated Silica Report analyses the degree of competition among the key manufacturers as well as industry growth and market scenario. The Global Precipitated Silica Market consist of various players operating in the market including large scale and medium size producers. The key market players operating in the Global Precipitated Silica are competing amongst each other in terms of product differentiation. Competition in the market is predicted to stay moderate in the upcoming years on account of revision of emission norms. Moreover, the company is focusing on enhancing their product portfolio by strategic acquisition and mergers, joint ventures, and exclusive agreements. Some of the companies are expanding their production capacity to raise the circulation of products.
Precipitated Silica Market – Overview
Precipitated Silica Market is predicted to witness strong growth on account of its profound usage in rubber, pharmaceutical, oral health care, food & beverages, and others. Increasing use of these product in rubber application owing to excellent properties such as superior tensile strength and abrasion resistance is estimated to propel the demand over the forecast period. It is generally used in the production of toothpaste wherein it act as whitening and cleaning agent. It is used as abrasive cleaners and thickeners due to maximum fluoride compatibility. Growth of Global Precipitated Silica Market is predominantly driven by automotive industry. Furthermore, rubber industry is predicted to witness significant growth due to numerous factors such as increasing population, growing per capita disposable income, and changing consumer trends. Rubber application segment accounted for the largest market share due to wide utilization in automotive & transportation industry. Moreover, rising application scope in production of conveyor belts, transmission belts, silicon tubes, and PVS sheets have positive influence on market growth.
Geographically, Asia Pacific emerged as the leading market for Precipitated Silica followed by North America and Europe in 2016. The Asia Pacific region accounted for largest market share and is predicted to register highest CAGR due to continuous growth of automotive, food & beverages, and pharmaceutical, industry specifically in China, India, Japan, Malaysia, and South Korea. Moreover, In Asia Pacific end use industrial growth is surge in various countries such as India, Vietnam, South Korea, Japan, China, Thailand, and Malaysia which is likely to drive market growth. Furthermore, increasing investment by major companies and shifting of Precipitated Silica manufacturing facilities as well as end use industries expansion in this region is estimated to drive the precipitated Silica Regional Market growth. North American market is predicted to witness steady growth on account of expansion of oral health care and pharmaceutical sector. Europe is expected to witness substantial growth owing to the significant growth of automotive industry. Furthermore, high adoption rate along with increasing awareness regarding the benefits associated with this product is predicted to fuel the market growth.
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