The sector will reach $9 billion by 2028 at a 7% CAGR

DUBLIN, January 23, 2023 /PRNewswire/ — The “Global Specialty Silica Market Size, Segment, Outlook and Revenue Forecast 2022-2028 by Product, Application and Region” report has been added to ResearchAndMarkets.com supply.

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According to this analysis, the global specialty silica market is estimated at ~US$4 billion in 2017. It is believed to be ~US$6 billion in 2022 and is projected to reach a market size of ~US$9 billiongrowing at a CAGR of ~7% due to growing demand for rubber and paints and coatings in various end-use industries such as construction and footwear.

Special silica is widely used in the production of rubbers used in various industries such as shoes, car tires and others. Increasing production of tires in the automotive industry is one of the factors driving the growth of the specialty silica market. Global automobile production is increasing in several developed countries, increasing demand for tire consumption.

The exponential growth in the production of electric vehicles provides lucrative opportunities for the tire industry, which has a positive impact on the specialty silica market. In 2021, total sales of electric vehicles reached 7.8 million units, which is double that of 2020.

The biggest challenge for the market is the high cost of colloidal silica and the growing preference of end-users for cheaper alternatives. Specialty silica exhibits a cyclical behavior, with the market shifting focus to other substitutes that are much lower in cost compared to silica. This will affect the profit margins of the players in the coming years.

Scope of the report

Product

  • Precipitated silica

  • Fumed silica

  • Fused silica

  • Silica gel

  • Colloidal silicon dioxide

Application

  • Rubber

  • Plastic

  • Paints and coatings

  • Electrical and Electronics

  • Agriculture and feed

  • Food and drinks

  • Personal hygiene

  • others

By region

  • North America (USA, Canada, Mexico)

  • Europe (GermanyGreat Britain, France, Spain, ItalyThe rest Europe)

  • Asia and the Pacific (China, Japan, South Korea, India, Indonesia, AustraliaThe rest Asia and the Pacific)

  • LAMEA (Latin America, Middle East, Africa)

Key players

Key trends by market segment

By product: The precipitated silica segment holds the largest market share in the global specialty silica market in 2021 owing to its wide application in PVC sheets where it helps improve pigment dispersion and tensile strength

  • Precipitated silica is the most commonly used specialty silica in the rubber industry. The product acts as a reinforcing agent and improves wear and tear resistance

  • Fused silica is expected to register the highest CAGR during the forecast period. Fused silica products are used in the manufacture of optical components such as mirrors, UV and IR transmission optics, lenses and metrology.

By application: The rubber segment accounts for the largest market share in the global specialty silica market in 2021 as rubber made from silica is widely used in various end-use industries such as automotive, footwear, and others.

  • In industrial rubber products, special silica is generally used in liquid silicone rubber (LSR) and high temperature vulcanized (HTV) rubber, which requires high mechanical strength and good electrical insulation.

  • Paint & Coatings is expected to grow at the highest CAGR during the forecast period as it is widely used as a low-cost diluent and is preferred due to its chemical inertness, which tends to improve the viscosity of paints and coatings.

By region: Asia and the Pacific holds the largest market share among all other regions within the global specialty silica market in 2021 owing to increasing construction activities in China and Japan .

  • According to the International Organization of Motor Vehicle Manufacturers (OICA), Asia and the Pacific is the largest car manufacturer. The growing automobile industry is the factor responsible for the largest share in the region.

  • Japan’s construction industry is predicted to boom as the country prepares to host the World Expo Osaka, Japanin 2025. Demand for construction of various buildings and infrastructure for the event will boost the specialty silica market in the region.

Recent developments related to major players and organizations

  • in November 2021, Nouryon announced the expansion of its Levasil colloidal silica manufacturing facility in the US. The expansion of the plant aims to meet the growing demand from the packaging and construction industries

  • in October 2021Evonik Wynca Silicon Material started its fumed silica plant, which is the company’s first fumed silica plant in China. It aims to position the company by building a global supply chain for its customers China and in general Asia

Key topics covered in the report

  • A snapshot of the global specialty silica market

  • Industrial value chain and ecosystem analysis

  • Market Size and Segmentation of the Global Specialty Silica Market

  • Historical growth of the overall global specialty silica market and segments

  • Market competitive scenario and key competitor developments

  • Porter’s 5 Forces Analysis of the Global Specialty Silicon Industry

  • Overview, product offerings, strengths and weaknesses of key competitors

  • Impact of Covid-19 on the overall global specialty silica market

  • Future market forecast and growth rate of total global specialty silica market and segments

  • Global Specialty Silica Market Analysis

  • Major centers of production/supply and consumption/demand in each region

  • Key historical and future market growth rates of the entire market and segments by country

  • Overview of notable emerging competitive companies in each region

The mentioned companies

  • Cabot Corporation

  • Akzo Nobel NV

  • Evonik Industries

  • Huber Engineering Materials

  • Solvay

  • PQ Corporation

  • Madhu Silica Pvt. Ltd

  • Wacker Chemie AG

  • PPG Industries, Inc.

  • WR Grace & Co.

  • AeroShield

  • WaferPro

  • Ultra HPQ

  • Ashtamers Pvt.Ltd.

  • Qingdao Hengze Silica Gel Products Co., Ltd.

For more information on this report, visit https://www.researchandmarkets.com/r/tzxglv

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