Specialty Silica Market: Size, Growth, Regional Analysis, And Market Analysis

Specialty Silica:

Specialty Silica is manufactured as round pebbles, sawed or trimmed blocks, or fine powder and is utilized as a crucial element in the formulation of various goods for a variety of end-user sectors, including automotive, electronics, inks, coatings, and personal care products.


Market Analysis:

In 2018, the global Specialty Silica Market was worth USD 5.61 billion, and it is predicted to grow at a CAGR of 9.4% over the forecast period. The rubber and coatings industries' rising demand is a primary driver of growth. In addition, rubber items, particularly vehicle tyres, are the most common use of the material. As a result, the characteristics of the automobile market have a significant influence in influencing silica demand.


In refractories, Specialty silica is commonly employed. Colloidal and fused silica are Specialty silicas that are typically used in refractory applications. During the forecast period, the worldwide Specialty Silica Market is expected to be negatively impacted by the high cost of fused silica and the availability of substitutes such as magnesium, aluminum, and calcium oxides. Furthermore, the specialty silica market is expected to be hampered by the availability of low-cost replacements for silica gel, such as clay and bentonite for cat litter and calcium sulphate for desiccants, during the projected period.


Regional Analysis:

In terms of sales, Asia Pacific dominated the market with a 40.0 per cent share. Furthermore, over the projection period, it is expected to be the fastest-growing regional market. The primary countries fueling regional growth are China, Japan, and India. Rubber was the most widespread use in the Asia Pacific, owing to increased demand from tyre makers.


Tire manufacturers' aggressive expansion is expected to have a positive impact on regional growth. With a market share of 23.8 per cent in 2018, North America was the second-largest contributor. Growing demand for automobiles is predicted to boost tyre production, which will boost product demand in the region. During the projected period, Asia Pacific is expected to dominate the worldwide Specialty Silica Market. In India, the specialized silica market grew significantly in 2019. Shortly, the country is expected to show a profitable trend in the technical silica industry.


Key Players:

AkzoNobel, PPG Industries, Solvay, Cabot Corporation, Madhu Silica Private Limited, Huber Engineered Materials, Tokuyama Corporation, Evonik Industries, W. R Grace & Company and Nalco Holding Company are the major key players of the Specialty Silica Market.


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