Increasing usage of specialty silica in the automotive sector is expected to significantly contribute towards production sales of specialty silica. Apart from this, there is increasing usage of specialty silica in electronics industry for the purpose of CMP (chemical mechanical planarization) and for absorbing moisture from the electronic products has been fuelling the demand for specialty silica on a large scale. Also, there are some factors that are restraining the growth of global market for specialty silica. Demand for specialty silica is completely dependent on usage by the end-use industries, many of whom are observed to show a cyclical behavior. Under such situations, it becomes challenging for the global market to maintain its profit and revenue generation.
A recent report anticipates that the global market for specialty silica will expand at a steady 5.8% CAGR during the forecast period, 2016-2026. Companies namely Akzo Nobel NV, Qingdao Makall Group Inc., Solvay SA, Cabot Corporation, Evonik Industries AG, Nalco Holding Company and Huber Engineered Materials amongst others will witness a notable growth globally. Prominent companies are planning to focus on marketing strategies such as product innovations and increasing their product portfolio.
Akzo Nobel NV Makes Heavy Investments for Expanding Its Sweden’s Production Capacity
Specialty Chemicals business of Akzo Nobel NV has planned to invest over €4Mn for expanding its Sweden’s production capacity. This step is taken by the company for the benefit of their Levasil CC-branded product portfolio of patented surface improved colloidal silica. Key players and manufacturers must note that this expansion will help Akzo Nobel NV in catering to increasing customer demands, thereby strengthening their position in the global market for specialty silica.
Expanding the production capacity will benefit Akzo Nobel NV in improving the important functionalities of various products as well as manufacturing processes. Due to Levasil Colloidal Silica trademark, the company is witnessing revenue growth in their coatings industry since the recent past. Apart from this, expansion as Bohus facility is expected to significantly fuel the growth of colloidal silica business of Akzo Nobel NV. Recently, the company had made considerable investments in a new lab, thereby implementing an innovative process for the purpose of boosting the manufacturing capacity of the Levasil products. The company is looking forward to develop products that would assure highly clear sustainability benefits.
Cabot Corporation Developed an Innovative Fumed Silica Facility in Kentucky
Cabot Corporation recently announced about the development of its new outstanding fumed silica facility in Carrollton, Kentucky. Key players and manufacturers can plan to make investments in this new plant for developing innovative products and expanding their business on a larger basis as new plants offer new opportunities. This new plant is adjacent to the current Dow Corning monomer facility of silicone in Carrollton. Apart from this, the plant is also an extension of the long-term relationship of Cabot Corporation with Dow Corning. According to recent news by the company, this new plant is expected to start operating from 2020.
Cabot Corporation has developed the new facility by considering the demand for its superior performance fumed silica, improved supply as well as production efficiencies, thereby taking care of safety and environmental benefits of collocation along with the raw material production.
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