Global Specialty Silica Market- Industry Analysis and Forecast (2019-2027)
Global Specialty Silica Market was valued US$ XX Bn in 2019 and is expected to grow US$ 10.5 Bn by 2027, at a CAGR of 9.5% during the forecast period.
Global Specialty Silica Market
The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Specialty silica is manufactured in several forms like round rocks and cut squares or fine powder. It is used as a key additive substance and manufactured in a wide scope of end-use businesses, for instance, automotive, hardware, inks, coatings, and others. Specialty silica is generally used in the production of a rubber tire in the automotive industry as it helps to reduce carbon emissions. Likewise, automotive industries are shifting to use green tires because of the rising concern of depletion of fossil fuels and severe emission rules, which will have a positive impact on the global specialty silica market.
Increasing application of specialty silica in personal care & cosmetics products because of its properties such as anticaking, UV protecting, and dispersive nature is expected to drive market growth over the forecast period. Silica is widely used as a cleaning and whitening agent in the manufacturing of several personal cares & cosmetics products. The high grade of specialty silica that is used in the dental application offers high cleaning to abrasion ratio which is likely to raise its demand across personal care & cosmetics products. The usage of silica for new applications is expected to drive growth opportunities for the specialty silica market. For instance, in August 2019, Evonik Business Line Silica has launched a new specialty product, SPHERILEX 145, for the oral industry.
The increasing investment by prominent players for improving the production of silica is expected to offer potential growth opportunities for the specialty silica market. For example, in April 2019, BASF has invested mid-range double-digit euro million sums in the innovation of its silica plant at the Düsseldorf-Holthausen site. The investment is allocated for the innovation and development of existing facilities in the future.
The precipitated silica product type segment held the largest market share in 2018
By product type, precipitated silica held the market share of around 72.3% in terms of revenue, in 2018 followed by fumed silica and colloidal silica, individually. The colloidal silica product segment is expected to hold the largest market share in the specialty silica market throughout the forecast period. This is mainly because of increasing demand for end-use applications such as catalyst, paper & textile applications, tobacco treatment, rubber, ceramics, and pharmaceutical applications is expected to boost the demand for colloidal silica over the forecast period.
The rubber application segment is estimated to be the largest application segment during the forecast period.
The rubber application segment is estimated to be the largest application segment in the global specialty silica market during the forecast period. This is mainly because the properties of specialty silica like high tensile strength and scratch resistance are expected to boost the demand for specialty silica in rubber industries. As well, the demand for green tires in North America and Europe region is expected to fuel the specialty silica market.
Asia-Pacific dominated the global specialty silica market in 2018
Asia-Pacific region dominated the global specialty silica market in 2018, recording a 72.5% market share in terms of revenue, followed by Europe and North America, correspondingly. This is mainly due to the rising automotive industry in developing economies like China and India and this has led to tire industry growth which is expected to boost the specialty silica market in the Asia Pacific region. Hence, it offers bigger opportunities for manufacturers of specialty silica in emerging economies.
North America is estimated to be the second-largest market, on account of the rise in demand for cosmetics and food & beverage industries.
The objective of the report is to present a comprehensive analysis of the Global Specialty Silica Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Specialty Silica Market dynamics, structure by analyzing the market segments and project the Global Specialty Silica Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Specialty Silica Market make the report investor’s guide.
Scope of the Global Specialty Silica Market
Global Specialty Silica Market, By Product Type
• Precipitated Silica
• Fumed Silica
• Hydrophilic Fumed Silica
• Hydrophobic Fumed Silica
• Fused Silica
• Silica Gel
• Colloidal Silica
Global Specialty Silica Market, By Application
• Crop Protection
• Paints & Coatings
• Food & Beverages
• Animal Feed
• Personal Care & Cosmetics
• Adhesives & Sealants
Global Specialty Silica Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Specialty Silica Market
• Evonik Industries AG
• Solvay S.A.
• PPG Industries, Inc.
• W. R. Grace & Co.
• Cabot Corporation
• Wacker Chemie AG
• PQ Corporation
• Tokuyama Corporation
• Tosoh Corporation
• Oriental Silica Corporation
• Ecolab Incorporated
• Madhu Silica Pvt. Ltd.
• Imerys SA
• Huber Engineered Materials
• Nalco Holding Company
• Qingdao Makall Group Inc.
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