Westford,USA, Feb. 28, 2024 (GLOBE NEWSWIRE) -- The global Specialty Silica market size is expected to reach USD 10.1 billion by 2030 and exhibit a CAGR of 5% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing demand for green and sustainable products in industries like tires and rubber, the growth of the cosmetics and personal care sector where specialty silica is used in skincare and beauty products, the expanding automotive industry's need for high-performance silica for fuel-efficient tires, the development of eco-friendly and energy-efficient construction materials that incorporate specialty silica, and the rise of the electronics and semiconductor industry where fine silica particles are utilized in manufacturing processes is fueling the market's growth.
According to SkyQuest's latest global research of the Specialty Silica market, rising demand for precipitated silica as a reinforcing filler in green tire production, the development of advanced applications in battery technology, where specialty silica is used to enhance the performance of lithium-ion batteries, the increasing use of fumed silica as a rheology modifier in paints, coatings, and adhesives to achieve desired flow and viscosity properties, the growth of the food and beverage industry where food-grade silica is used as an anti-caking agent and carrier, and the expansion of the pharmaceutical and healthcare sectors, leveraging specialty silica's role in drug delivery and excipient applications, are the trends that aid in the market's growth.
Browse in-depth TOC on "Specialty Silica Market"
- Pages - 157
- Tables - 69
- Figures -75
Specialty silica is a type of silica that has been processed to have specific properties, such as high purity, small particle size, or controlled surface chemistry. It is used in a wide variety of applications.
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Prominent Players in Specialty Silica Market
- Cabbot Corporation
- Evonik Industries
- Wacker Chemie AG
- Solvay S.A.
- Imerys
- PQ Corporation
- Momentive Performance Materials
- PPG Industries
- Dow Corning
- Air Products & Chemicals
- Huntsman Corporation
- Kemira
- BASF SE
- AkzoNobel
- Ashland Inc.
- Arkema S.A.
- Sibelco
- Quarzwerke
- J.M. Huber Corporation
- U.S. Silica
- Covia Corporation
- Nippon Silica Glass
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 6.38 Billion |
| 2030 Value Projection | 10.1 Billion |
| CAGR | 5% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Precipitated Silica Demand to Grow Substantially in the Forecast Period
Precipitated silica dominated the global online market as it is highly versatile and finds applications in various industries, including tires, personal care and cosmetics, food and beverage, rubber and plastics, paints, coatings, adhesives, construction materials, and more. This versatility makes it a preferred choice for many manufacturers.
Green Tires is the Leading Application Segment
In terms of application, Green Tires are the leading segment as the automotive industry has been focused on reducing fuel consumption and emissions, driving the demand for green and fuel-efficient tires. These tires incorporate precipitated silica as a reinforcing filler to enhance tire performance, including lower rolling resistance, improved traction, and better fuel economy.
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Asia-Pacific is the leading Market Due to Significant Industrial Production Capacity
Asia-Pacific is a global manufacturing hub, home to countries such as China, India, and Japan, with significant industrial production capacity. This region's extensive manufacturing operations generate substantial demand for specialty silica across various industries. The growth of the automotive and tire manufacturing sectors in Asia-Pacific, driven by a rising middle class and increased vehicle ownership, fuels the demand for specialty silica, particularly for green tire production.
A recent report thoroughly analyzes the major players operating within the Specialty Silica market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Specialty Silica.
Key Developments in Specialty Silica Market
- In January 2023, Solvay announced an investment at its Livorno, Italy, production to build the business's first unit of circular highly dispersible silica (HDS) produced using sodium silicate made from rice husk ash. Incorporating renewable energy throughout the facility will enable Solvay to cut CO2 emissions per tonne of silica by 50%. As a result, the Livorno location will surpass all other silica manufacturing sites in Europe in terms of CO2 footprint. Production of the new product is anticipated to begin by the end of 2024.
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Key Questions Answered in Specialty Silica Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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