Specialty Silica Market Trends, Share, Size, Opportunities and Forecast 2022
Posted by Moin Patni on March 27th, 2019
Specialty Silica Market Overview:
Specialty Silica Market in USD 5.1 Bn and is expected to grow at the CAGR of 6.1% between which has started since 2018 and is expected to continue till 2022.
Specialty Silica is mainly used as an in tires for improving its capability of being used continuously and reducing emission of carbon. It’s also used in newly innovated green tires which helps automobile industry to improve vehicle’s performance through less consumption of fuel. Moreover, for production of green tires, specialty silica is used in the automobile industry which drives the market growth and is expected to continue doing this in future as well. Electronic industry has increased the usage of specialty silica as it is being used in manufacturing capacitors and circuits along with these it is also used to absorb moisture from electronic components; all these are driving the global specialty silica market.
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Specialty Silica Market Key Players:
Specialty Silica Market are: Evonik Industries, Akzo Nobel N.V., Cabot Corporation, Wacker Chemie AG, PPG Industries, Inc., Huber Engineered Materials, Solvay S.A., W. R. Grace & Co., Nalco Holding Company, Madhu Silica Private Limited and others.
Specialty Silica Market Segmentation:
Specialty Silica are predominantly utilized in various application such as paints & coatings, food & beverage, electronic components, agriculture, rubber, personal care & cosmetics, and others. Specialty Silica market is predicted to witness moderate growth on account of continuous growth of automotive sector and paints & coatings industry. Among product type segment, precipitated silica is expected to register strong growth in the near future due to their usage in cosmetics, oral care, rubber, food & beverage, and automotive tires. Furthermore, increasing construction activities along with rising consumption of paints & coatings is estimated to increase the demand for specialty silica.
Specialty Silica Market Regional Analysis:
Asia Pacific accounts for the largest share of global specialty silica market. Rapid industrializations, favourable government regulations and increase in consumer spending will significantly grow the specialty silica market in emerging economies such as China, India and Japan. Growing construction and infrastructure developments leading to increase use of paints & coatings which is key application of specialty silica market. Europe forecasted a significant growth owing to the robust growth of automobile industry in Germany and is expected to show a favourable growth in the coming years. Changing lifestyle of consumer and increase in government’s spending in food and healthcare has pushed the demand for specialty silica in UK and France.
North American market is predicted to witness steady growth on account of increasing demand from pharmaceutical sector. In North America, U.S. and Canada are among the major contributor in the regional market growth due to strong growth of food & beverage and cosmetic industry. Europe is estimated to witness steady growth due to increasing automotive production and sales in various countries such as Germany, Italy, and UK. The Middle Eastern & African market is estimated to register above average growth due to rising demand for personal care and cosmetic products specifically in Qatar, Turkey, the United Arab Emirates, Oman, and Saudi Arabia. Latin American countries such as Brazil, Argentina, and Mexico are predicted to register moderate growth on account of rising disposable income along with strong consumer base for automotive industry.
Specialty Silica Market Table of Content:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Specialty Silica Market
Specialty Silica Market Table of Content to be Content…….,
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About the AuthorMoin Patni
Joined: February 20th, 2018
Articles Posted: 412
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