Specialty Silica Market to Expand at a CAGR of 6% during Forecast Period, notes TMR Study

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Sep 26, 2022, 21:30 ET

The global specialty silica market is expected to be driven by an increase in tire demand as a result of rising automobile sales globally
The CMP industry has been strengthened by the expansion of microelectronics industry, which has increased usage of CMP slurries. This factor is expected to raise demand for specialty silica.

WILMINGTON, Del., Sept. 27, 2022 /PRNewswire/ -- By 2030, the global specialty silica market is likely to cross value of US$ 10 Bn. The global specialty silica market is likely to progress at 6% CAGR during the forecast period, from 2020 to 2030. Specialty silica offers a lot of development possibilities for animal feed and crop protection applications, which are recent developments in specialty silica market. Silica leakage, on the other hand, is a problem for manufacturers and causes serious harm to their downstream wastewater equipment and systems. In order to make silica removal easier, silica producers can implement assess the suitable volume of chemical feeders, smart planning strategies, and consider sludge handling elements.

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The rubber industry has reduced its use of carbon black as filler owing to the advent of high dispersible silica (HDS). Improved tire traction, fuel efficiency, and wear resistance have all been facilitated by HDS development. The industry is estimated to be the largest revenue generator in specialty silica market during the forecast period.

Asia Pacific is anticipated to lead the global market for specialty silica during the forecast timeline. In India, 2019 saw a significant expansion of the specialty silica industry. In the coming years, the country is projected to display a profitable trend for the specialty silica market participants.

Key Findings of Market Report

The rubber industry is expected to lead the specialty silica market globally in the years to come. In the rubber business, specialty silica is generally utilized as a performance enhancer, softener, and filler for a variety of tyre, industrial, and footwear applications. In the rubber business, precipitated silica is a specialty silica that is frequently utilised, which is expected to drive future market demand for specialty silica.
Engineers are developing synthetic silica to increase the toughness and enhance the resilience of coatings and paints. Leading players in specialty silica market are doing away with the usage of traditional silica in coatings so that their products can provide a variety of wet reaction process conditions.
In 2019, the precipitated silica product category dominated the global specialty silica market. This pattern is anticipated to persist throughout the forecast period. The fumed silica category has also been growing rapidly over the past few years. It is anticipated that the fumed silica segment will grow significantly during the forecast timeline.

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Global Specialty Silica Market: Key Players

Some of the key market players are

W. R. Grace & Co.
Tokuyama Corporation
Evonik Industries AG
Wacker Chemie AG
PPG Industries, Inc.
PQ Corporation

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Global Specialty Silica Market: Segmentation

Product

Precipitated Silica
Fumed Silica
Hydrophilic Fumed Silica
Hydrophobic Fumed Silica
Fused Silica
Silica Gel
Colloidal Silica

Application

Rubber
Crop Protection
Paints & Coatings
Food & Beverages
Animal Feed
Plastics
Personal Care & Cosmetics
Adhesives & Sealants
Chemical Mechanical Planarization (CMP)
Composites

Regions Covered

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

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