Specialty Silica Market: In Depth Analysis Report By Application, Product and Key Players

The global Specialty Silica Market size is anticipated to reach USD 11.43 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 9.4% during the forecast period. Rising demand from rubber, food, healthcare, and coatings industries is the significant factor influencing the market growth.

Precipitated silica and carbon black are the major ingredients used as reinforcing filler in tires to improve adhesion and to enhance tire tread wear resistance. Currently, precipitated silica is used in conjunction with carbon black as a reinforcing filler for tires. However, the trend is shifting towards the complete replacement of carbon black by precipitated silica, owing to the eco-friendly nature and superior performance delivered by the latter.

Specialty silica is widely employed in the manufacturing of green tires. Silica-filled tires are widely used as they aid in decreasing rolling resistance of an automotive which results in improved mileage and better handling. Rising demand for green tires, particularly from Asia Pacific, North America, and Europe is expected to have a positive impact on the market over the next seven years.

The product is used as non-reactive filler on account of its high absorption capacity and large surface area. It is used as thickening and reinforcing agent in adhesives. It has profound usage in conveyor as well transmission belts, wherein it provides abrasion resistance, high tensile strength, and improves tear resistance. Specialty silica is also utilized to eliminate caking tendency and to improve powder flowability, stability during storage, and the productivity of agrochemical products. It also finds application in food industry as a flavor carrier. This, in turn, is projected to drive the growth in near future.

The market is expected to foresee highest penetration in the coatings industry. Fumed silica is primarily utilized in paints and coatings as an anti-settling and a thixotroping agent to control rheological characteristics and to help resist rust and corrosion. Products like fumed silica must be added in concentrations between 0.5% and 2% for coatings application.

The competitive landscape of the specialty silica market reflects a number of companies currently engaging in capacity extensions to enhance their market position. For instance, in October 2018, Evonik started a precipitated silica plant in South Carolina to meet the increasing demand from tire industry in North America.

Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/specialty-silica-market

Further key findings from the report suggest:

• Rubber led the market in 2018 with a revenue share of 29.2% owing to extensive utilization of precipitated silica in reinforcement of rubbers
• In terms of volume, precipitated silica acquired the highest market share of around 66.3% in 2018, owing to its wide application scope in rubber, food and healthcare, plastic, abrasive, and coatings
• In terms of revenue, coatings application is estimated to witness the fastest CAGR of 11.2% as a result of expanding construction sector in Asia Pacific
• Asia Pacific was the largest regional market with a revenue share of 40.0% in 2018 owing to rapid production of tires and construction activity in the region
• Evonik Industries, Cabot Corporation, Akzo Nobel N.V., PPG Industries, and Solvay SA are among the top manufacturers in the specialty silica market. Price modification owing to volatility in raw material prices and capacity expansion on account of rising demand and are the key strategies adopted by the top players.

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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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