Specialty Silica Market Overview
Market Research Future (MRFR) announces the publication of its research report Global Specialty Silica Market, 2022.
Specialty silica is useful for enhancing stability during storage, improve powder flowability, reducing caking tendency, and increase the productivity of the powdered products that are used in food and pharmaceutical sector. A new report on the global specialty silica market, published by Market Research Future (MRFR), expects that this market can witness prosperity at 6.1% CAGR between 2016 and 2022. In terms of money value, the market can be worth USD 5.1 Bn by the end of the forecast period.
The vital market driving factor for the global specialty silica market growth is the use of specialty silica in various sectors, especially the automobile sector. In the automobile sector, the use of specialty silica is being encouraged to produce tires and to reduce carbon emission. Due to strict emission rules and growing concern of depletion of fossil fuels, automotive industries want to produce eco-friendly tires for which specialty silica is required. The demand for specialty silica is rising in personal care & cosmetics products due to its properties such as anticaking properties, ultraviolet (UV) protection, and dispersive nature. While manufacturing electronic components, specialty silica is used for manufacturing capacitor and circuit boards. However, the market growth can face hurdles due to the high cost of colloidal silica and availability of low-cost substitutes. The small & medium enterprises (SMEs) prefer to buy low-cost substitutes due to their limited budget.
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Specialty Silica Market Key Players:
Big players in the global specialty silica market Akzo Nobel N.V. (Netherlands), Cabot Corporation (USA), Evonik Industries (Germany), Huber Engineered Materials (USA), Madhu Silica Private Limited (India), Nalco Holding Company (USA), PPG Industries Inc. (USA), Solvay S.A. (Belgium), Wacker Chemie AG (Germany), and W. R. Grace & Co. (USA).
A geographical outlining of the global specialty silica market covers the Asia Pacific, North America, Europe, and Rest of the World (RoW).
Asia Pacific region dominates the global specialty silica market due to rising automobile industry and subsequent increase in the production of tires. Specialty silica is used for tire production. In countries like China, India, and South Korea are using specialty silica to develop electronic industry and infrastructure. Hence, specialty silica can provide great market opportunities to manufacturers in developing countries. In China and India, specialty silica is used for paint and coatings used in the construction sector. Japan is another important country-specific market in this region.
North America is another priority regional market due to the rise in demand for cosmetics and food & beverage industries. Many prominent market players are based in the USA. After USA, Canada is the biggest country-specific market in this region.
In Europe, the market is strong due to the high density of population, the presence of some key market players, strong infrastructure, and production on large scale. The crucial country-specific markets in this region are France, Germany, Italy, the Netherlands, and the UK.
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