Specialty Silicas Market Share, Trends, Analysis and Forecasts, 2020-2030
The Specialty Silicas Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
Specialty silica is an abundantly available and flexible active ingredient for wide range of products across several industries. Specialty silica is primarily used in the production of rubber, paints & coatings, electronic components and so on. Specialty silica helps in reducing the carbon footprint of an automobile by enhancing quality of rubber used in tires. Manufacturers of tires are focusing on development of green tires with improved efficiency, reduced weight and prolong service life. This has significantly contributed towards the growth of specialty silica during past few years. However, the market is expected to witness steady growth in coming years owing to the derived demand or cyclic nature of the automotive industry. Increased demand from personal care and cosmetic products is expected to fuel demand for specialty silica market in coming years. Specialty silica is also used across construction industry owing to high tensile strength and abrasion resistance offered by specialty silica. With expansion of building and construction industry across the globe, the demand for specialty silica is anticipated to bolster during the forecast period. Increasing adoption of specialty silica across semiconductor industry, for manufacturing of electronic components, sapphire wafers, and optical lenses is expected to contribute towards the growth of specialty silica market in coming years.
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The global specialty silica market is segmented on the basis of product type, applications, and geography. Based on product type, the global specialty silicas market is segmented into precipitated silica, silica gel, fused silica, colloidal silica, fumed silica, and others. The precipitated silica contributed a dominating share to the global market in 2019 owing to increased demand from green tire manufacturing across the globe. Automobile manufacturers are focusing on adoption of green tires to enhance fuel efficiency and reduce carbon emission. The green tires require approximately double the amount of silica than that of the conventional tire manufacturing, thereby fuelling the demand for precipitated silica. The fumed silica segment is expected to register prominent growth during the forecast period owing to increasing demand from adhesive & sealant and paints & coating manufacturing.
Increasing adoption of specialty silica across rubber and paints & coating applications to drive market growth
Based on applications, the global specialty silica market is segmented into rubber, plastics, paints & coatings, semiconductor, agriculture, food & beverages, personal care, and others. The application of specialty silica in rubber production and processing contributed a prominent share to the global market owing to strong demand from tire manufacturing. The demand for speciality silica in non-tire rubber applications is expected to contribute towards the growth of specialty silica in rubber production and processing. The paints & coating application segment is anticipated to be the most lucrative segment during the forecast period owing to increasing adoption of fumed silica to enhance rust and corrosion resistant properties of paints & coatings.
Based on geography, the global specialty silicas market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific contributed the largest share to the global specialty silica market in 2019 owing to strong demand from tire manufacturing, food & beverages, and semiconductor manufacturing industries across major countries China, Japan, and India. Expansion of semiconductor manufacturing, electronic device manufacturing and plastic processing industries across Asian countries is anticipated to contribute towards the eminent growth during the forecast period. North America contributed a prominent share to the global market in 2019 and is expected to witness steady growth during the forecast period owing to increasing investment in development of electric vehicles, and expansion of automobile component manufacturing industry.
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Major players active in the global specialty silicas market include Akzo Nobel NV, Cabot Corporation, Ecolab Incorporated, Evonik Industries AG, Huber Engineered Materials, Imerys SA, Madhu Silica Pvt. Ltd. (MSPL), Nalco Holding Company, PPG Industries, Inc., Qingdao Makall Group Inc., Solvay SA, and Wacker Chemie AG.