Precipitated Silica Market to Touch ~US$ 5 Bn by 2027, Application Paves Way to Green Tires in Automotive: TMR

- Use of Precipitated Silica as Additives Open New Avenues in Rubber Chemistry, and Hence in End-use Applications of Rubber, Notes TMR

- Players in Precipitated Silica Market Focus on Product Diversification As Part of Strategy Realignments in Wake of COVID-19 Disruptions; Adoption of Agriculture Feedstock to Improve Environmental Footprint of Precipitated Silica Products

News provided by

Transparency Market Research

Jul 21, 2020, 11:30 ET

ALBANY, N.Y., July 21, 2020 /PRNewswire/ -- Precipitated silica in various forms are extensively utilized as an additive in personal care, rubber, food and feed, agrochemicals and paints and coatings. Strides in the production of eco-friendly and better-performing tires for automotive industry has spurred prospect of precipitated silica market, and drive it clock CAGR of ~4% during 2019 – 2027.

Analysts at TMR opine that market players should lean on product diversification and strengthen their production operations in order to gain a competitive edge in the overall precipitated silica market. In upcoming years, this will also help them to overcome the shocks of COVID-19 pandemic.

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Key Findings of Precipitated Silica Market Report

Of all the applications, personal care industry offers robust impetus to revenue generation in precipitated silica market globally
Rubber industry has seen extensive uptake in precipitated silica market; the segment also accounted for the leading share in 2018
Europe to offer promising share of market revenues each year during assessment period
Asia Pacific with 34.17% revenue share in 2018 is the leading regional market; its status quo is unlikely to change till 2027; China is major consumer and producer of precipitated silica

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Precipitated Silica Market: Key Driving Factors and Promising Avenues

Precipitated silica has replaced carbon black in numerous applications, such as in rubber industry. New array of products in the precipitated silica market enable rubber manufacturers to develop tires with a good balance of tire tread properties, which helps bring down the number of tire-related crashes.
Rapidly growing utilization of precipitated silica additives in making range of cosmetics and personal care industries is also bolstering prospects in the precipitated silica market.
Rise in automotive production in recent years has spurred demand for precipitated silica.
Green tires has expanded the horizon of utilization of precipitated silica in reducing the carbon footprint of automotive sector.
Players are looking utilize abundant agriculture wastes as one of the feedstocks. A case in point is the promising potential of rice husks in making sustainable precipitated silica.

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Precipitated Silica Market: Competitive Assessment

Stakeholders in precipitated silica market have been leaning on realigning their strategies to maintain their bottomline in the wake of COVID-19 lockdown disruptions in several countries. Chemical producers have ramped up their investments in new production plants in developing countries. Moreover, top players in the precipitated silica market have committed huge funds on research and development activities.

Various players in key regional markets are focusing in unveiling novel precipitated silica additives for end-use industries. They are also forming partnerships with coating manufacturers to leverage the synergy in meeting the needs of construction, aerospace, automotive, and energy industries.

Analyze Precipitated Silica Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Precipitated Silica Market: Regional Assessment

Of the various regions, Asia Pacific was a dominant market in 2018. China accounted for a major share of revenues to the regional market, since it has been a prominent global producer as well as consumer of precipitated silica.

Meanwhile, North America has been remarkable lucrative region over the past few years. Rapidly rising demand in personal care industry underpins the rising revenue potential of the regional market. Further, the growing demand for green tires has kept the demand for precipitated silica attractive.

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The Precipitated Silica Market can be segmented as follows:

Precipitated Silica Market, by Application

Rubber
Personal Care
Agrochemicals
Others

Precipitated Silica Market, by Region

North America

U.S.
Rest of North America

Europe

Germany
U.K.
France
Spain
Italy
Rest of Europe

Asia Pacific

China
Japan
ASEAN
Rest of Asia Pacific

Latin America

Brazil
Rest of Latin America

Middle East & Africa

GCC Countries
South Africa
Rest of Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the global Chemicals and Materials Industry,

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