Specialty Silica Market to expand at a CAGR of 5.8% through 2016 - 2026
Speciality silica such as precipitated silica, fumed silica and colloidal silica are mainly used in various applications such as rubber, plastics, agriculture & feed, food & beverages, and oral care. In these applications, it serves different purposes; for instance, in tyres, it is used as a performance additive; in personal care products, it acts as a matting agent to avoid skin from appearing glossy after application of cosmetics; in food and beverages, it acts as a clarification agent for beer and helps remove impurities. In plastics, speciality silica is used during polymerisation process as an anti-blocking agent to prevent polymer layers from sticking to each other. Over the last couple of years, use of specialty silica in manufacturing green tyres has increased considerably, a trend that’s expected to fuel global demand during the forecast period.
Global specialty silica market is estimated to account for US$ 5.6 Bn in 2016, and expand at a CAGR of 5.8% in terms of value during the forecast period, 2016-2026. In volume terms, global demand for speciality silica is expected to stand at 3,188.1 KT (thousand tonnes) by the end of 2016.
Market Dynamics
Growth of the specialty silica market is mainly driven by increasing application of specialty silica in the automotive sector. Use of speciality silica as a performance additive in tyres leads to better rolling resistance and traction, making the vehicle more fuel efficient as compared to the conventional tyres. In the electronics industry, increasing use of specialty silica for chemical mechanical planarization (CMP) and to absorb moisture from electronic products is driving its demand globally.
Request For Sample@ http://www.futuremarketinsights.com/reports/sample/rep-gb-577
However, specialty silica market is highly dependent on its end-use industries, some of which shows cyclical behaviour. In such circumstances, to maintain continuity in revenue and profit generation is expected to be one of the major challenges for specialty silica industry leaders.
Global Specialty Silica Market Taxonomy
Global specialty silica market is segmented as the following:
By Product Type
By Application
By Region
By product type, the market is divided into precipitated silica, fumed silica, fused silica, colloidal silica and silica gel. In terms of value, precipitated silica segment is expected to dominate the market through the forecast period.
By application, global specialty silica market is segmented into rubber, plastics, ink and coatings, electrical and electronics, agriculture and feed, food and beverages, personal care and others. In terms of value, rubber application segment is estimated to account for more than half of the total market share of global speciality silica market by 2016, and is anticipated to remain dominant through the forecast period.
Regional Analysis
On the basis of regions, the global specialty silica market is segmented into seven key regions, namely, North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America and Middle East and Africa. In terms of market value, Asia Pacific excluding Japan is estimated to dominate the specialty silica market with more than one-third of the global market by 2016 and is expected to expand at a healthy CAGR of 7.0% during the forecast period.
Key Players
Key players reported in this study on the global specialty silica market are Solvay SA, Huber Engineered Materials, Madhu Silica Private Limited, Evonik AG, Akzo Nobel N.V., Nalco Holding Company (An Ecolab Company), PPG industries, inc., Cabot Corporation, Wacker Chemie AG and Qingdao Makall Group Inc.
Globally, companies are found to have been expanding their production capacities in order to meet the increasing demand of specialty silica for various applications. Also, introducing highly dispersible silica (for its application in fuel efficient tyres) in their product portfolio is a major trend observed among major industry players.