Specialty Silica Market Set to Surge Significantly During 2019-2029
Future Market Insights has announced the addition of the “Specialty Silica Market: The Shift to Greener Alternatives is Underway: Global Industry Analysis, 2014 – 2018 and Opportunity Assessment, 2019 – 2029″ report to their offering.
Dubai, United Arab Emirates – February 22, 2021 /MarketersMedia/ —
A recent market research report by Future Market Insights on the global specialty silica market contains global industry analysis for 2014 – 2018 and opportunity assessment for 2019 – 2029. The specialty silica market report offers critical insights for the forecast period of 2019 – 2029. According to the report, the global specialty silica market is expected to witness noteworthy growth over the forecast period, primarily driven by the growth in the rubber industry, majorly for footwear and tire application across geographies, especially in the APEJ region.
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The global specialty silica market was pegged at ~US$ 6.1 Bn in 2018 and is estimated to increase at a CAGR of ~5% in the projected period of 2019-2029.
Growing Scope for Specialty Silica Usage in Oral Care Applications
Over the last decade, companies such as Solvay SA, Huber Engineered Materials, Madhu Silica Pvt. Ltd., Evonik Industries etc., have developed different grades of specialty silica with varied abrasiveness and good thickening & whitening properties. Newly developed grades of dental specialty silica, which provide very high cleaning to abrasion ratio, are widely being accepted among consumers and their increasing consumption is expected to drive the global market growth at a high CAGR over the forecast period.
Growing Demand for Specialty Silica in the APEJ Region
The global specialty silica market is divided on the basis of product, application, and regions such as North America, Latin America, Eastern Europe, Western Europe, Japan, Asia Pacific excluding Japan (APEJ), and the Middle East & Africa (MEA).
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The growth in the rubber industry, majorly for footwear and tire applications, is anticipated to be the major driver for specialty market growth in the APEJ region. China is expected to contribute more than half of the total incremental opportunity in the APEJ specialty silica market.
However, specialty silica is not a standalone finished product, instead it is a consumable product that finds application across various end-use industries. Some of the end-use industries such as automobile industry, represent cyclical behavior in terms of demand, which in turn, might affect the demand for specialty silica. As a result of derived demand from end-use industries, growth and profitability of specialty silica market depends on growth and profitability of end-user industries. This, in turn, could become a major challenge for market players operating in the global market.
Major companies in the world produce specialty silica products using conventional methods, i.e., reaction of an alkaline silicate solution with mineral acid for precipitated silica, or by burning silicon tetrachloride in a flame of hydrogen & oxygen. These production plants are capital intensive in nature and also require more energy for production. SioTex Corporation, a U.S. based firm, developed a greener alternative for production of fumed silica, in which it used rice hulls as the raw material. This production process uses less energy as compared to the conventional process, with no involvement of toxic reactants. Silica produced from such processes has the potential to replace the traditionally-produced silica, thus, becoming a significant challenge for various existing manufacturers across the globe.
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Global Specialty Silica Market: Vendor Insights
Some of the prominent players in the global specialty silica market are Evonik Industries AG, Huber Engineered Materials, PPG Industries, Inc., Solvay SA, Madhu Silica Pvt. Ltd. (MSPL), Akzo Nobel NV, Nalco Holding Company, Cabot Corporation, Qingdao Makall Group Inc., and Wacker Chemie AG. Companies are majorly focused on developing new and advanced product grades, specifically for applications wherein they already have a strong hold in the global market. For instance, Huber is expanding its product portfolio for silica products, for application in the oral care and paper industries.
About Chemicals & Materials division of FMI
The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
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Website: https://www.futuremarketinsights.com/reports/specialty-silica-market
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