Increasing demand for making cars and tires has caused the market for precipitated silica to grow very quickly over the past few years. Tires use less gas and last longer because they use precipitated silica a lot as a stiffening agent. These companies getting bigger is a big reason why the market is growing. Thanks to growing environmental awareness and government programs that urge people to act in environmentally friendly ways, "green tires" have become the new standard on the market. Green tires need precipitated silica instead of regular carbon black because it lowers greenhouse gas emissions and improves fuel economy.
Sustainability in the environment is a big issue that affects the precipitated silica market. Businesses are spending money on research and development to make long-lasting precipitated silica mixtures because people are becoming more interested in buying eco-friendly products.
New developments in manufacturing technology keep making the process of making precipitated silica more efficient and cost-effective. Process engineering improvements help businesses make their products better, use less energy, and get the most out of their resources, which changes the way the market works.
Food and personal care products, as well as industry, use precipitated silica. Multiple uses in personal care goods and as a flow aid and anti-caking agent in food preparation help to spread out the market's demand.
The strict rules that govern the use of silica in many different situations have an effect on the market for solidified silica. Market players have to follow rules about how to make sure their products are safe, of good quality, and don't hurt the earth. By following these rules, you can get into the market and earn customers' trust.
Raw material costs, especially those that come from silica sources, affect the market for crystallized silica. When you change the price of something, it can affect how much it costs to make and sell. Companies that make things have to deal with changes in the costs of raw materials so that they can stay in business.
The global and regional economies have an effect on the market for crystalline silica. Growing economies can lead to more building projects, which raises the demand for products made from silica. On the other hand, when the economy is bad, demand from end-use areas may drop, which can change how the market works.
The Precipitated Silica Market is changing because of mergers, purchases, and the coming together of different industries into one. Companies can broaden their product lines, boost production, and gain a competitive edge through strategic partnerships and purchases.
It's not just changes in demand and supply that affect the Precipitated Silica Market. New market factors also play a role. Market players need to know about the different wants and needs of places in order to tailor their plans and take advantage of growth possibilities.
Report Attribute/Metric | Details |
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Growth Rate | Â 2.9% |
Precipitated Silica Market is estimated to be valued at USD 4.5 billion in 2030 and is expected to grow at a CAGR of 2.9% during the forecast period.
Precipitated silica is a form of synthetic amorphous silicon dioxide (specialty silicas) and is derived from quartz sand and crystalline form of silicon dioxide. Precipitated silica is inert, non-toxic, and chemically balanced synthetic amorphous material suited for diverse applications. Furthermore, the properties of the precipitated silica can be manipulated during the manufacturing process to cater to a wide range of performance for diverse end-use industry verticals.
Among various end-use industries, rubber industry accounted for the largest market share for precipitated silica; this trend is expected to follow throughout the forecast period. Precipitated silica optimizes the processing characteristics of rubber, such as faster cure rates, easier mixing, better flow, or more flexible extrusion, along with enhancing the heat and abrasion resistance, and increased tensile strength. Hence precipitated silica is a key ingredient of rubber production. Thus the growth in demand for rubber industry with has a direct impact on the precipitated silica market. Within the rubber industry, tire application is dominating the global demand for rubber. This rapid growth of automotive production and sales is expected to drive the growth of the global participated silica market during the forecast period. In the adhesives & sealants industry, precipitated silica is used to enhance bond strength and as a thickening agent. Hence, the surge in demand for adhesives and sealants across an array of end-use industries is expected to drive the demand for precipitated silica in the latter. Personal care & cosmetics industry is projected to be the fastest growing end-use industry in the global participated silica market. The growth of personal care and cosmetics segment can be attributed to rising disposable income, changing the demographic trend, increasing middle-class population, and rapid urbanization.
Furthermore, increasing demand for paints & coatings and rubber from the construction and automotive industry is expected to drive the demand for precipitated silica as a raw material during the forecast period.
Although the demand for precipitated silica is expected to increase significantly with the steady growth of the end-use industry, the market is expected to face a serious roadblock owing to environmental hazards associated with the production of precipitated silica.
Asia-Pacific led by China is projected to dominate the global precipitated silica market during the forecast period, huge investment in construction and infrastructural development, rapid industrialization, and growing automotive industry are projected to be the key driving factor for the growth on the region. Moreover, China is the largest producer of automobiles across the globe with about 30% market share in the world. This makes China a significant market for precipitated silica. India is expected to be the fastest growing market for precipitated silica owing to the growing demand for personal care products such as soap, shampoo, and oral care products and rapidly growing automotive industry. North America is expected to be the second largest market for precipitated silica market. The region is projected to experience moderate growth during the forecast period. The growth in the region is supported by a recovery in the construction industry in the US, growing automotive production in the region. The European market is projected to witness steady growth during the forecast period primarily owing to rising construction activities in the non-residential construction in the Eastern European region. Latin America and the Middle East & Africa regions are expected to expand at a moderate CAGR during the forecast period.
The global precipitated silica market has been segmented based on grade, application, end-use industry, and region. On the basis of grade, the global precipitated silica market has been categorized as rubber grade, food grade, and non-rubber grade. By application, the global precipitated silica market has been divided into additives, free-flow and carrying agents, thickening agents, anti-caking agents, battery separators, and others. By end-use industry, the global precipitated silica market has been divided into the rubber industry, food & feed, paints & coatings, adhesives & sealants, personal care & cosmetics, and others.
The global precipitated silica market, by region, has been segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Some of the key players operating in the global precipitated silica market are PPG Industries, Inc. (the US), Industrias QuÃmicas del Ebro, SA ( Spain), Evonik Industries AG (Germany), Tata Chemicals Ltd (India), AntenChem Co., Ltd, Solvay SA (Belgium), PQ Corporation (US), W.R. Grace & Co. (US), Oriental Silica Corporation (Taiwan), Tosoh Silica Corporation (Japan), Huber Engineered Materials (US), Supersil Chemicals (I) Pvt. Ltd (India), Madhu Silica Pvt. Ltd (India), Gujarat Multi Gas Base Chemicals Pvt. Ltd (India), and Wacker Chemie AG (Germany)
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