Rockville, MD -- (SBWIRE) -- 05/08/2018 -- A new research publication by Fact.MR presents incisive insights on the global high purity silica market. The report assesses the historical trends that have shaped this landscape until now, and offers an accurate and unbiased outlook on the likely market scenario for the period 2018-2027.
The use of high purity silica in various industries has pushed its demand across regions, depending on the market position of the respective end use industry in the particular region. Moreover, various factors influencing growth of the global high purity silica market have also been covered in this research study. Analysis on key market participants such as Nyacol, Corning, Canadian Metals Inc., Heraeus, Evonik Industries AG, Huber Engineered Materials and Akzo Nobel is also included.
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Demand for High Purity Silica from Industrial Rubber and Tire Industry Growing
High purity silica is gaining rapid acceptance from the industrial rubber and tire industry. It is being largely used to manufacture green tires that differ from conventional tires in terms of higher grip and low rolling resistance. Low rolling resistance offers reduced fuel consumption thus saving money and protecting environment by lowering the CO2 emissions. This has spurred the demand for high purity silica in rubber and tire sector. This factor is also supported by the fact that governments across regions are focusing on reducing the greenhouse emissions by enhancing fuel consumption of vehicles.
With the growth in the rubber industry in the United States, the region continues to remain a major consumer of tires as well as a huge producer of synthetic rubber. 2018 is expected to be an opportunistic year for the economy of United States. The demand for tires from the automotive sector in the United States is expected to fuel the use of high purity silica in this region. Albeit a maturity in the US automotive sector, this industry is expected to present potential opportunities for the high purity silica market.
In emerging economies, the demand of high purity silica in the automotive sector, for production of green tires is expected to soar at high pace. In 2016, the automobile production (passenger cars) in China was around 24,420,744 units and in 2017 it reached 24,806,687. Likewise, in India, the number of passenger cars in 2017 recorded a volume production of about 3,952,550 from an initial volume of 3,677,605 in 2016. This trend shows that the production of passenger as well as commercial vehicles in these countries is increasing at a steady pace and is expected to continue with this trend in the coming years. This has presented significant opportunity for tire manufacturers to develop green tires, which in turn is expected to trigger the sale of high purity silica in these countries. Moreover, in India, the demand for tires is expected to increase by 7 to 8 percent during 2018-2019 timeline, which is expected to aid the growth of the global high purity silica market.
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Growth in Semiconductor Industry to Spur Sales of High Purity Silica
High purity silica is used in semiconductor and electronics industry for mechanical planarization or polishing. With the growing use of high purity silica in this field, its demand across regions such as United States and Europe is expected to increase. In 2017, the semiconductor industry witnessed growth owing to high adoption of graphics processing units and e-sports. According to World Semiconductor Trade Statistics, the semiconductor revenue from a global perspective is expected to rise by 7% in 2018. In 2017, the semiconductor revenue in US reflected a value higher than US$ 86 Mn, which is expected to reach US$ 95 Mn with a 10.3% growth. Likewise, in Europe, though the rate of growth remains less as compared to Unite States, the semiconductor revenue is expected to touch a value higher than US$ 39 Mn in 2018. In Asia Pacific, the semiconductor market is expected to witness high growth pace. The semiconductor revenue in this region in 2017 was US$ 247,834 Mn and is estimated to soar at a 6.6% rate to reach US$ 264,097 Mn in 2018. These statistics have shown a considerable expansion of the semiconductor market, which is expected to fuel the growth of the global high purity silica market in the coming years.
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