The global specialty silica market is poised for robust growth, with a projected Compound Annual Growth Rate (CAGR) of approximately 4.8% within the forecast period of 2021 to 2031. This growth trajectory is underpinned by the increasing demand for specialty silica across diverse industries. Specialty silica encompasses several distinct types, including precipitated, fumed, fused, silica gel, and colloidal varieties.
Over recent years, there has been a steady upsurge in the demand for specialty silica from various sectors. This trend is set to persist in the coming years, driven by the expansive growth of end-use industries, particularly in the realms of rubber and plastics. As these industries continue to flourish, the demand for specialty silica is expected to remain strong, further propelling the market’s expansion.
Owing to growth of packaging, print & specialty coatings consumption specialty silica consumption has increased. Besides this, the demand from inks & coatings Industry also will buoy growth in upcoming years. Other notable end uses of specialty silica include plastics, food & beverages, electrical & electronics components & insulation, personal care product additive, agricultural & feed, consumer products and others.
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Key Takeaways of Specialty Silica Market Study
- The global specialty silica market is anticipated to expand at a CAGR of ~4.8% by during the forecast period of 2021-2031
- The U.S. is expected to account for nearly 80% sales in the North America market
- Growth in U.K. is expected to recover 2021 onwards. FMI projects it to exhibit 4.7% Y-o-Y growth in 2021, after going downhill in 2020
- Growth trends are expected to remain favorable in Germany and France too
- Within East Asia China will emerge as a key market, exhibiting high growth. CAGR exhibited by Japan and South Korea as well is expected to remain positive through the forecast period
“Demand from rubber industry will continue to fuelling the demand for specialty silica. Though the significant drop in automotive industry output production rate during the last two consecutive fiscals have impacted the consumption of tires; however, the market growth is expected to gain traction in upcoming years. Additionally product innovation involved in specialty coatings will spur the demand of specialty silica.” says a FMI analyst.
Demand for specialty silica is expected to grow at moderate rate owing to its increasing consumption in rubber application. Personal care is anticipated to witness highest growth amongst all other applications. East Asia is projected to hold prominent share followed by Europe and North America. China and Japan are the major target locations for supply of Specialty Silica for manufacturers. Specialty Silica market is fairly consolidated with small number of tier-1 players accounting for the major share.
Some of the leading companies operating in the market are:
- Solvay SA
- Huber Engineered Materials
- Madhu Silica Pvt. Ltd.
- Evonik Industries AG
- PPG Industries, Inc.
- Akzo Nobel NV
- Cabot Corporation
- Wacker Chemie AG
- Nalco Holding Company
- Qingdao Makall Group Inc.
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Specialty Silica Market by Category
By Product Type
- Precipitated
- Fumed
- Fused
- Silica Gel
- Colloidal
By Application
- Rubber
- Plastic
- Ink & Coatings
- Electrical & Electronics
- Agricultural & Feed
- Food & Beverages
- Personal Care
- Others
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments over the next 10-years.
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