Global "Specialty
silica Market" 2022 Industry
research report covers the industry overview with Marketplace Size, Share,
Development, futuristic cost, earnings, demand and distribution data. Its vast
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new and existing player to take a significant decision.
In this report, we
thoroughly examine and analyse the Global market for Specialty silica so that
market participants can improve their business strategy and ensure long-term
success. This report provides players with useful information and suggests
result-based ideas to give them a competitive advantage in the global Specialty
silica industry. It will show how other players compete in the global Specialty
silica Market and explain the strategies you use to differentiate yourself from
other participants.
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The specialty silica market
global size is expected to value at USD 4.43 billion by 2022. The market is
subject to witness a substantial growth credited to the rising demand in the
automotive as well as paints & coatings sector, and growing need for
precipitated silica in the packaged food industry. Some of the key factors
attributing to the growth of the specialty silica industry are constant demand
of specialty silica in different industrial applications such as rubber,
packaged food industry, healthcare sector, paint & coatings sector,
production of plastics and abrasives.
Significant demand for the
specialty silica in production of rubber and a few other industries to achieve
high performance level is propelling growth of the specialty silica market in
recent years. The use of the precipitated silica provides numerous advantages
such as superior wear resistance and wet grip during manufacturing of the tires
to offer superior performance. Subsequently, expansion of the automotive
industry in the developing and underdeveloped economies is further expected to
drive growth of the market in coming years.
Globally, the specialty
silica industry is predicted to grow at a high CAGR in the forecast period,
providing numerous opportunity for market players to invest for research and
development in the market. Additionally, increasing personal expenditure, and
rising penetration in various market segments alongside number of latest
product launches across different regions of the globe are the key aspects
driving the market progress over forecast period. The use of specialty silica
is significantly prominent in cosmetics industry as well. Launch of latest set
of products with distinct product format and numerous technological advancement
in the specialty silica market is boosting industry growth in coming years.
Adoption of specialty
silica for production of variety of perfumes and colognes is on the rise,
thereby expanding market reach. Similarly, paint and coating market segment is
anticipated to gain maximum traction over the forecast period. The application
of fumed silica in paint and coating market involves management of rheological
properties similar to this otroping drivers, anti-settling drivers and to
provide required safety from erosion and oxidation over period of time. The
common type of specialty silica such as fumed silica consist of a substantial
amount of surface area which is highly preferred in paint and coating industry
segment, making the industry most vibrant in the consummation of the specialty
silica.
Though the growing presence
of substitutes material is one of the critical factors limiting the progress of
the specialty silica industry. The use of materials such as carbon black in
tire and automotive sectors is further restraining the market growth. Carbon
black is considered as a refined chemical that is produced by smoldering
hydrocarbons along with regulated quantity of air. Yet, environmental-friendly
properties of silica over carbon black, is allowing revolution of the market in
the automotive sector.
Various application of the
specialty silica includes manufacturing of rubber, plastics, paint coatings,
packaged-food industry, health-care sector, and abrasives and refractories.
Some of the additional applications of the specialty silica product involves
agro-chemicals, de-foamers, plastics, adhesives and sealants. Substantial
growth in the demand of specialty silica is creating space for the specialty silica
market in agrochemical applications in upcoming years.
The market is divided into
regional market segment such as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to high-end demand in the construction sector such as the paints and coating
segment and presence of leading industry players.
Asia-Pacific region is
predicted to hold major market share in the market with massive growth in
forecast period. Countries such as India, China, Thailand and Japan are leading
the Asia-Pacific market with ever-growing automotive sector, rising
construction and infrastructure activities and increasing investment by
prominent market players considering potential market opportunities. The key players
in the specialty silica industry are Tosoh Co., Wacker Group, Oriental Silicas
Co., Nissan Chemical Industries Ltd., Nippon Aerosil Co., and Evonik
Industries.
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