Global Specialty Silica Industry: Share, COVID-19 Overview, Application, Growth and Forecast 2023
Specialty Silica Market Scenario
The global specialty silica market is presumed to demonstrate 6.1%
CAGR during the forecast period (2016-2022) owing to the increasing demand for
automotive, asserts Market Research Future (MRFR). Specialty silica comprises
silica and is produced in the coarse form of round pebbles and trimmed or sawed
blocks or fine powder. It is used as an additive in the formulation of various
components and products fabricated in a wide range of end-use industries like
electronics, automotive, coatings, inks, personal care products, and others.
Specialty silica is used in the production of transparent and medicated
toothpaste and acts as a cleaning, whitening, and polishing agent. It is also
used as a trivial abrasive cleaner and as a thickener due to its high fluoride
compatibility.
Drivers and Constraints Impacting the Market
Specialty silica is estimated to expand at a steady rate owing to
its applications in paints & coatings, rubber, personal care &
cosmetics, agriculture, electronic components, food & beverage, and others.
The automobile sector is likely to be on the top position due to the high production
of tires and efforts are taken to reduce carbon emission. With shifting focus
towards using green tires and increasing concern regarding the depletion of
fossil fuels is considered to influence the global specialty silica market
during the appraisal period. Moreover, strict emission rules are considered to
contribute to the market growth. With rising awareness regarding green tires,
changing lifestyle of the consumers, and growing disposable income of the
middle-class population are considered to trigger the demand for specialty
silica during the assessment period. High investments in research and
development activities coupled with technological advancements for cost
competitive product manufacturing are further influencing the market growth.
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Specialty Silica Market Competitive Dashboard
The major players operating the global specialty silica market are
Nalco Holding Company, Akzo Nobel N.V., Wacker Chemie AG, Solvay S.A., PPG
Industries Inc., Evonik Industries, Madhu Silica Private Limited, W. R. Grace
& Co., Huber Engineered Materials, Cabot Corporation, and others.
Global Specialty Silica Market: Segmental Analysis
The global COVID-19 analysis on specialty silica
market report has been segmented on the basis
of product type, application, and region.
By mode of product type, the global specialty silica
market has been segmented into fused silica, precipitated silica, silica
gel, fumed silica, and colloidal silica. Among these, the precipitated silica
is considered to dominate the global specialty silica market as it is
extensively used in the shoe and tire industry. With the extensive use of the
product in the refectories & abrasives and coatings industries, the segment
is likely to flourish during the assessment period. Economies such as China and
India are likely to exhibit a significant growth rate in the tire industry,
which is expected to impact the segment growth positively.
By mode of application, the global specialty
silica industry has been segmented into
electronic components, rubber, paints & coatings, agriculture, personal
care & cosmetics, food & beverage, and others. Among these, the rubber
segment is presumed to dominate the global market as it is highly used in the
manufacturing of tires, which are used in the automotive industry. With growing
automotive production, the demand for rubber is expected to trigger in the
coming years.
Specialty Silica Market Regional Insights
Geographically, the specialty silica market span across regions
namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Among all the regions, the Asia Pacific region is likely to
register the largest market share owing to the growing automotive industry in
emerging countries of the APAC region. With increased construction &
infrastructure spending by the Chinese and Indian governments, the region is
likely to expand. Moreover, the growth of the automotive industry in economies
such as Thailand, Japan, Indonesia, and South Korea are flourishing the region
growth during the assessment period.
The North American region is presumed to expand at a significant
rate during the assessment period. The growth is attributed to the rapid
urbanization, population growth, and increasing disposable income in Mexico.
Moreover, the rubber tire industry in this region has witnessed significant
growth rate in the past few years due to the growing demand of automotive. Such
factors are considered to influence the market growth during the forecast
period highly.
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NOTE: Our team of researchers are studying Covid19 and its impact
on various industry verticals and wherever required we will be considering
covid19 footprints for a better analysis of market and industries. Cordially
get in touch for more details.
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