Global specialty silica market is driven by rising demand of specialty silica in various application such as rubber, electronic components, paints & coatings, agriculture, personal care & cosmetics and others.
Pune, Maharashtra -- (SBWIRE) -- 05/05/2017 -- Market Highlights
The global specialty silica market in 2016 was USD ~5.1 billion and is expected to grow at the CAGR of ~6.1% between which has started since 2016 and is expected to continue till 2022.
Specialty silica is found in silicon dioxide which is available in market as precipitated silica, fumed silica, silica gel, fused silica and colloidal silica. Applications of these are numerous according to different purposes. Specialty silica is highly preferred for manufacturing tires owing to reduce emission of carbon. It acts as performance additive in tires leading to achieve lower rolling resistance. Thus, allowing vehicle to run smoothly with prevents less consumption of fuel. In personal care & cosmetics, specialty silica provides UV protection and acts as matting agent to protect skin. Other application like food & beverages, it acts as anti-caking agents and helps impurities from entering food. All these properties of specialty silica are expected to have a positive impact on the growth of the growth over the forecasted period.
Precipitated silica is used in food & beverages, cosmetics, oral care and automotive tires. Thus, huge application of precipitated silica helps to drive the Specialty Silica Market growth.
Fumed silica is anticipated to grow at a significant rate owing to growing electrical and paint & coating industry. Automobile industries in India and China are demanding high usage of green tires as it consumes less fuel which is expected to drive the demand for fumed silica in coming years. Growing demand of paints & coatings used in construction and equipment industry is driving the overall market of specialty silica. Colloidal silica and fused silica are used in refractories and are expensive in nature. Easy availability of cheaper substitutes such as silica gel is a preferred option for small and medium buyers. These can open an opportunity for small and medium buyers who are engaged in development of low priced colloidal and fused silica.
Specialty Silica Market Players
- Evonik Industries
- Akzo Nobel N.V.
- Cabot Corporation
- Wacker Chemie AG
- PPG Industries, Inc.
- Huber Engineered Materials
- Solvay S.A.
- W. R. Grace & Co.
- Nalco Holding Company
- Madhu Silica Private Limited
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Based on application, rubber segment is the largest segment owing to being used in tires, industrial tools and equipment. Among all these, global specialty silica market has generated demand for automotive tires in global market leading to reduce rolling resistance thus, helping vehicles to consume less fuel. Paints & coatings are key application of specialty silica the growth of which will be more due to growing construction and infrastructure development in emerging economies. Other application segment is also witnessing a consistent growth with changing government regulation and increase in R&D investment. Strict regulations of government regarding harmful emission of fumes and continuous inhalation of the same can cause problems to worker. These factors can hamper the specialty silica market in future.
Asia Pacific accounts for the largest share of global specialty silica market. Rapid industrializations, favorable government regulations and increase in consumer spending will significantly grow the specialty silica market in emerging economies such as China, India and Japan. Growing construction and infrastructure developments leading to increase use of paints & coatings which is key application of specialty silica market. Europe forecasted a significant growth owing to the robust growth of automobile industry in Germany and is expected to show a favorable growth in the coming years. Changing lifestyle of consumer and increase in government's spending in food and healthcare has pushed the demand for specialty silica in UK and France.
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The global specialty silica market is driven by high demand of green tires as it enhances the performance of vehicles and reduces carbon emission and this is expected to increase the demand of specialty silica market in North America. R&D expenditure to develop new products is expanding at a rapid pace in US owing to increase in automobile, personal care & cosmetics and electronic industry.
The global specialty silica market is majorly segmented on the basis of product types and application. Based on types of specialty silica, the market is segmented into precipitated silica, fused silica, fumed silica, silica gel, colloidal silica. Similarly, on the basis of application the market is classified into rubber, electronic components, agriculture, paints & coatings, food & beverage, personal care & cosmetics and others.
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