As per the report published by Fior Markets,the global specialty silica market is expected to grow from USD 2.98 Billion in 2017 to USD 6.23 Billion by 2025, at a CAGR of 9.66% during the forecast period from 2019-2025. Due to unabated demand for the automobiles, paints and coatings, as well as food and beverages products fuelled by the rise in the per capita disposable income, the Asia Pacific region, emerged as the leader in the global demand for the specialty silica in 2017.
“Specialty Silica Market by Product (Precipitated Silica, Silica Gel, Fused Silica, Colloidal Silica, Others), Application, Regions”,and Global Forecast 2019-2025.
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Major players in the global specialty silicamarket areAkzoNobel N.V., Evonik Industries SE, Huber Corporation, Imerys SA, Ecolab Incorporated, Tosoh Corporation, WackerChemie AG, Oriental Silicas Corporation, Nissan Chemical Industries Limited, KemiraOyj, Nippon Aerosil Co. Ltd, W.R. Grace & Co., Cabot Corporation, PPG Industries, QindaoMakall Group, Solvay S.A., Madhu Silica Private Limited, Nalco Holding Company, and among others.There has been increased demand for the silica from the tire industry for the purpose of manufacturing green tires. Thus to effectively satisfy this demand the Evonik Industries SE in 2018, announced the launch of ULTRASIL® 7800 GR. It is a custom-tailored silica made by Evonik for use in particularly large SUV tires as well as high-mileage all-season tires. Due to its higher specific surface area, ULTRASIL® 7800 GR adds further stiffness to the tread compound, yet remains easy to process.
Product segment is divided into precipitated silica, silica gel, fused silica, colloidal silica and fumed silica. Due to its wide spread application in the tire, coatings and refectories & abrasives industries the precipitated silica led the global specialty silica market with a 72.48% share of market revenue in 2017. However the silica gel is expected to progress at an accelerated CAGR of 11.93% over the forecast period, on account of its wide ranging use in the compressed air systems, humidity control, syringes, drug test kits, food additives, water filtration, chromatography, and humidity indicators.Application is segmented into rubber, plastics, coatings, food & healthcare, and abrasives & refractories and others. Increasing use of specialty silica as an eco-friendly alternative to the carbon black led the rubber application segment to dominate the global specialty silica market with a 36.41% share of market revenue in 2017. Food and beverages segment also accounted for a robust market share in 2017, due to its application in the preserving the food product.
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Even though the factors such as Growth of the automotive industry and rising utilization of the specialty silica in the paints and coatings industry are driving the global specialty silica market, whereas the availability of low coat substitutes is anticipated the hold back the growth of the market.
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