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.
Specialty Silica Market Competitive Dashboard
The major players operating the global Specialty Silica Price 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 market 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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