New Jersey Headlines

Specialty Silica Market Growing Application Scope of Silica in Food & Healthcare By 2025 | Grand View Research Inc.

 Breaking News
  • No posts were found

Specialty Silica Market Growing Application Scope of Silica in Food & Healthcare By 2025 | Grand View Research Inc.

May 21
13:40 2019
Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,Rising demand from rubber and coatings industry is the major factor driving the growth. Rubber products, especially automotive tires, is the most significant application of the product. Therefore, the dynamics of automotive market play a key role in driving the demand for silica market.

According to a report, “Specialty Silica Market Size, Share & Trends Analysis Report By Product (Precipitated, Silica Gel, Colloidal, Fumed), By Application (Rubber, Paints & Coatings, Food), And Segment Forecasts, 2019 – 2025″, published by Grand View Research, Inc.,The global specialty silica market size is anticipated to reach USD 11.43 billion by 2025,It is anticipated to register a CAGR of 9.4% during the forecast period. Rising demand from rubber, food, healthcare, and coatings industries is the significant factor influencing the market growth.

Precipitated silica and carbon black are the major ingredients used as reinforcing filler in tires to improve adhesion and to enhance tire tread wear resistance. Currently, precipitated silica is used in conjunction with carbon black as a reinforcing filler for tires. However, the trend is shifting towards the complete replacement of carbon black by precipitated silica, owing to the eco-friendly nature and superior performance delivered by the latter.

Key Takeaways from the report:

Rubber led the market in 2018 with a revenue share of 29.2% owing to extensive utilization of precipitated silica in reinforcement of rubbers

In terms of volume, precipitated silica acquired the highest market share of around 66.3% in 2018, owing to its wide application scope in rubber, food and healthcare, plastic, abrasive, and coatings

In terms of revenue, coatings application is estimated to witness the fastest CAGR of 11.2% as a result of expanding construction sector in Asia Pacific

Asia Pacific was the largest regional market with a revenue share of 40.0% in 2018 owing to rapid production of tires and construction activity in the region

Evonik Industries, Cabot Corporation, Akzo Nobel N.V., PPG Industries, and Solvay SA are among the top manufacturers in the specialty silica market. Price modification owing to volatility in raw material prices and capacity expansion on account of rising demand and are the key strategies adopted by the top players.

China specialty silica market

Specialty silica is widely employed in the manufacturing of green tires. Silica-filled tires are widely used as they aid in decreasing rolling resistance of an automotive which results in improved mileage and better handling. Rising demand for green tires, particularly from Asia Pacific, North America, and Europe is expected to have a positive impact on the market over the next seven years.

The product is used as non-reactive filler on account of its high absorption capacity and large surface area. It is used as thickening and reinforcing agent in adhesives. It has profound usage in conveyor as well transmission belts, wherein it provides abrasion resistance, high tensile strength, and improves tear resistance. Specialty silica is also utilized to eliminate caking tendency and to improve powder flowability, stability during storage, and the productivity of agrochemical products. It also finds application in food industry as a flavor carrier. This, in turn, is projected to drive the growth in near future.

The market is expected to foresee highest penetration in the coatings industry. Fumed silica is primarily utilized in paints and coatings as an anti-settling and a thixotroping agent to control rheological characteristics and to help resist rust and corrosion. Products like fumed silica must be added in concentrations between 0.5% and 2% for coatings application.

The competitive landscape of the specialty silica market reflects a number of companies currently engaging in capacity extensions to enhance their market position. For instance, in October 2018, Evonik started a precipitated silica plant in South Carolina to meet the increasing demand from tire industry in North America.

Global specialty silica market

Application Insights

Rubber held the largest market share of 29.2% in terms of revenue in 2018. The global rubber industry has witnessed high growth over the past decade and the trend is expected to continue over the forecast period owing to the increasing level of consumer satisfaction in terms of the improved gas mileage.

Paints and coatings is anticipated to be the fastest growing application with a CAGR of 11.2 % over the forecast period. Fumed silica in primarily used in coatings as thixotroping and an antisetlling agent to prevent rust and corrosion. Widespread urbanization, massive infrastructure developments, and rising population coupled with increasing disposable income are the significant factors driving growth of coatings industry.

Ask Our Industry Expert for more details on report – www.grandviewresearch.com/inquiry/2817/ibb

Regional Insights

Asia pacific held the dominant market share of 40.0% in terms of revenue in 2018. Furthermore, it is estimated to be the fastest growing regional market over the forecast period. China, Japan, and India are the key countries driving the regional growth. Rubber application led the Asia Pacific market owing to rising demand from tire manufacturers. Aggressive expansion from tire manufacturers, is predicted to positively affect the regional growth.

North America was the second largest contributor with a market share of 23.8% in 2018. Growing demand for vehicles is expected to propel the production of tires, which, in turn, is likely to propel the product demand in the region.

The European regulations regarding the lowering of Volatile Organic Compounds (VOC) emissions in paints and coatings industry are expected to propel the demand for eco-friendly specialty silica over the forecast period.

Central and South America is anticipated to witness high growth over the forecast period. The growing automobile industry particularly in Argentina, Chile, and Brazil, is predicted to have a positive impact on the growth in the forthcoming years while increasing recovery of construction sector is expected to boost demand for coatings and thereby influence the regional product demand.

Grand View Research has segmented the global specialty silica market on the basis of product, application, and region:

Specialty Silica Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

Precipitated

Silica gel

Fused

Colloidal

Fumed

Specialty Silica Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

Rubber

Agrochemicals

Oral Care

Food

Dessicants

Paints & Coatings

Others

Specialty Silica Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

North America

U.S

Europe

U.K.

Germany

Asia Pacific

China

India

Central & South America

Brazil

Middle East & Africa

Browse Latest Research Insight:

  • Kombucha: A Living Health Drink Kombucha is a fermented, lightly sweetened black or green tea drink majorly used as a functional beverage due to its exceptional health benefits. Kombucha was initially home brewed, however, in the 1990’s kombucha was made commercially available in local health stores and supermarkets. 
  • Growing Demand For Cosmetics To Drive Lanolin Demand – Lanolin is a key ingredient used for treating dry skin, reducing scaling, abrasions, and itching. Growing pharmaceutical and healthcare industries specifically in the BRIC nations coupled with the need for improved skin treatment is anticipated to drive market growth.

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunity.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: www.grandviewresearch.com/industry-analysis/aquaculture-market

Categories