Precipited Silica Market Size Global Industry Trends, Growth, Share, and Forecas
Posted by Rishab Gupta on December 13th, 2019
Precipited Silica Market Overview
Precipitated Silica market is predicted to witness strong growth on account of its profound usage in rubber, pharmaceutical, oral health care, food & beverages, and others. Increasing use of these product in rubber application owing to excellent properties such as superior tensile strength and abrasion resistance is estimated to propel the demand over the forecast period. It is generally used in the production of toothpaste wherein it act as whitening and cleaning agent.
Key Players of Precipited Silica Market:
Evonik Industries AG, Solvay S.A, Tosoh Silica Corporation, PPG industries, Zheng Yuan Chemical, Oriental Silicas Corporation, W.R. Grace & Co, Huber Engineered Materials, Anten Chemical, Madhu Silicate among others are some of the prominent players at the forefront of competition in the Global Precipitated Silica Market and are profiled in MRFR Analysis.
It is used as abrasive cleaners and thickeners due to maximum fluoride compatibility. Growth of global Precipitated Silica market is predominantly driven by automotive industry. Furthermore, rubber industry is predicted to witness significant growth due to numerous factors such as increasing population, growing per capita disposable income, and changing consumer trends. Rubber application segment accounted for the largest market share due to wide utilization in automotive & transportation industry. Moreover, rising application scope in production of conveyor belts, transmission belts, silicon tubes, and PVS sheets have positive influence on market growth.
Industry/ Innovation/ Related News:
June 2017- The European Commission approved acquisition of Huber Silica by Evonik Industries. With this acquisition Evonik Industries will expand its presence in Europe and the Middle East and Africa.
March 2017- PPG Industries made an agreement with KRAHN CHEMIE for the distribution of precipitated silica products in Poland. With this agreement, the company strengthen its position in the distribution network in Poland.
February 2017- AksharChem India Ltd announced to invest INR 65 Crores to expand its portfolio of inorganic product such as precipitated silica. With this expansion company will be able to supply more to end use industries such as Rubber, Tyre, and Food.
May 2017- Tata Chemicals acquired precipitated silica operation from Unnati inorganics Private Limited. The company take over the operation at existing production site in Dahej which will manufacture highly dispersible silica (HDS). This acquisition represent a value addition to company’s specialty chemical business.
August 2016- Huber Engineered Material announced to expand its commercial manufacturing capacity of precipitated spherical silica at its Finland, manufacturing facility. This expansion will help the company in the business growth of the silica and silicates across the globe.
January 2016- PPG Industries increased precipitated silica manufacturing capacity at its Louisiana, production plant by more than 10,000 tons per annum. With this expansion, the company will be able to meet the growing demand for their products among the major strategic customers and target segments in U.S.
December 2016- Evonik Industries announced to build USD 120 Million Silica plant near Charleston South Carolina to supply to tire manufacturing unit. With this expansion company’s strategy is to strengthen its position as a global partner for automotive supplier industry.
The Precipitated Silica report analyses the degree of competition among the key manufacturers as well as industry growth and market scenario. The global Precipitated Silica market consist of various players operating in the market including large scale and medium size producers. The key market players operating in the global precipitated silica are competing amongst each other in terms of product differentiation. Competition in the market is predicted to stay moderate in the upcoming years on account of revision of emission norms. Moreover, the company is focusing on enhancing their product portfolio by strategic acquisition and mergers, joint ventures, and exclusive agreements. Some of the companies are expanding their production capacity to raise the circulation of products.
Geographically, Asia Pacific emerged as the leading market for precipitated silica followed by North America and Europe in 2016.The Asia Pacific region accounted for largest market share and is predicted to register highest CAGR due to continuous growth of automotive, food & beverages, and pharmaceutical, industry specifically in China, India, Japan, Malaysia, and South Korea. Moreover, In Asia Pacific end use industrial growth is surge in various countries such as India, Vietnam, South Korea, Japan, China, Thailand, and Malaysia which is likely to drive market growth.
Furthermore, increasing investment by major companies and shifting of precipitated silica manufacturing facilities as well as end use industries expansion in this region is estimated to drive the precipitated silica regional market growth.
North American market is predicted to witness steady growth on account of expansion of oral health care and pharmaceutical sector. Europe is expected to witness substantial growth owing to the significant growth of automotive industry. Furthermore, high adoption rate along with increasing awareness regarding the benefits associated with this product is predicted to fuel the market growth.
Complete Report Summary is Available @ https://www.marketresearchfuture.com/upcoming-reports/precipitated-silica-market-2000
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About the AuthorRishab Gupta
Joined: November 25th, 2019
Articles Posted: 303
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