14-Jun-2021 | Zion Market Research
The Global Specialty Silica Market Size is highly competitive as the key players are involved in the development of technologically advanced equipment for the bakery industry. Some of the major players of the market include 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 and Others.
According to analysts at Zion Market Research, the Global Specialty Silica Market accounted for more than USD 4.78% Billion in 2020 and is expected to reach more than USD 11.60 Billion by 2028, growing at a CAGR of 14.1% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Global Specialty Silica Market By Product (Precipitated, Silica Gel, Colloidal, Fumed, and Others), By Application (Rubber, Agrochemicals, Oral care, Food, Desiccants, Paints & coatings, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2028.”
The global specialty silica market is growing at a rapid pace. The Focus on Energy-efficiency, the rise in demand for specialty silica in the cosmetic industry, the increase in the use of specialty silica in toothpaste as a cleaning agent, and the rubber industry expanding at a faster rate are some of the factors that are fuelling the growth of the global specialty silica market. Over the period, there is an increase in the demand for specialty silica due to its wide range of applications in several industries. Specialty silica has a greater value in non-tire and tire rubber markets. To enhance the performance, sustainability, and workability of inks, sealants, adhesives, paints, and coatings precipitated silica products are majorly used as anti-corrosive pigments, high-performance flatting agents, and thickening agents.
They are also used as a carrier and free-flow agents for animal feed, food, industrial and agricultural applications enabling the processes and products to flow better. All these factors coupled with the growing demand for specialty silica in the food industry owing to its ability of good absorb liquids, remove lumps, and prevention of caking are driving the growth of the global market. Moreover, the rise in R&D activities for the launch of innovative products and the growing automotive industry owing to the rise in sales of commercial & passenger vehicles are also the key aspects that are propelling the growth of the market.
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The global specialty silica market is bifurcated based on product type, application, and region. Based on the product type, the global specialty silica market is divided into colloidal, silica gel, fused silica precipitated, and fumed. Among these, the precipitated segment is anticipated to account for the maximum share owing to its wide application in rubber, agriculture, paint & coating, and the food industry. Based on the application, the global market is categorized into personal care, electrical & electronics, plastic, rubber, food & beverages, agricultural & feed, ink & coatings, and others. Among these, the rubber sector is estimated to lead the market owing to a rise in the tire and non-tire applications.
Asia Pacific is estimated to lead the global specialty silica market in terms of revenue. Factors such as growing demand for paints & coating due to the rise in commercial & residential projects, expanding the automotive industry with an increase in sales of vehicles, and rise in demand for specialty silica in countries like India & China are driving the growth of the market in this region. North America holds the second-most position in the market and is expected to contribute to a significant share of the market growth. Technological advancements and a growing focus on the development of green tires are the major factors that are propelling the growth of the market in this region.
The Global Specialty Silica Market is highly competitive as the key players are involved in the development of technologically advanced equipment for the bakery industry.
Some of the major players in the market include
Browse the full “Global Specialty Silica Market By Product (Precipitated, Silica Gel, Colloidal, Fumed, and Others), By Application (Rubber, Agrochemicals, Oral care, Food, Desiccants, Paints & coatings, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/specialty-silica-market
The Global Specialty Silica Market is segmented as follows:-
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