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The Specialty Silica Market is influenced by many important things that affect its growth and movement. Knowing these things well is important for businesses doing work with special silica. They need to make smart choices and stay ahead in a market that keeps changing.
The automobile business is a big part of the special silica market. Silica is often used as a strengthening material in making tires.
It helps improve how well they stick to the road, use less fuel and perform better overall. The increase in need for tires that use less fuel and have good performance affects the special silica market a lot. The growing number of cars worldwide is causing a higher need for tires. Specialty silica helps make tires better in two ways - rolling resistance and wet hugging. This makes it very important for making tires. As more tires are produced, this is good news for the specialty silico market too.
The use of special green tire tech that focuses on both sustainability and lower impact on the environment is a major habit in markets for silica. Silica, used as a strengthening powder in tires helps make them use less gas while rolling. This makes cars more fuel-efficient and pleases those who care about the environment. As more people become aware of the environment, there is a growing attention on creating new renewable and bio-based sources for silica.
Companies that spend money on research and make special silica from green places like rice husks or bamboo will probably do better than others in the market. The building business uses a lot of special silica, especially for strong concrete. The need for strong and long-lasting building things, where silica is a main extra ingredient, impacts the market as worldwide construction activities grow. Specialized silica is used in electronics and electrical work. It is added to materials that cover things, gooey stuff, and sticky glue.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â Â 10.97% |
Specialty Silica Market Highlights:
Specialty Silica Market Overview
The specialty silica market is estimated to reach a valuation of USD 15.88 billion in the year 2030 at a CAGR of 10.97% during the forecast period 2024 to 2030.
Specialty silica is extensively utilized in the automobile sector for tyre manufacturing due to its ability to effectively decrease carbon emissions. It can be categorized into various types, including precipitated silica, fumes silica, fused silica, colloidal silica, and silica gel. The different types of specialty silica are utilized in a wide range of industries, including paints and coatings, electronic components, personal care, and cosmetic items. Furthermore, silica precipitate is utilized in the building and construction industry due to its exceptional tensile strength and resistance to abrasion. Moreover, specialty silica is additionally employed in the electronics sector for manufacturing circuit boards and capacitors. Apart from this, the ongoing trend of adopting electric vehicles and the significant rise in the manufacturing of electric vehicles creates a wide range of opportunities for the tyre industry which eventually influences the specialty silica market demand.
Specialty Silica Market Trend Insights
The increased usage of specialty silica in the tyre industry is aiding the market's growth.
Specialty silica is frequently employed in Liquid Silicone Rubber (LSR) and High-Temperature Vulcanized (HTV) rubber applications that necessitate exceptional mechanical strength and effective electrical insulation. It is highly utilized in industrial rubber goods to minimize hysteresis loss in conveyor belts or to serve as an active filler in coloured rubber particles or in items that require effective contact. Apart from this, specialty silica is primarily utilized in tyre manufacturing for its exceptional purity and minimal moisture absorption, as it possesses greater electrical characteristics compared to rubber goods.
Furthermore, the specialty silica market expansion is being propelled by advancements in tyre technology, specifically the use of silica as a reinforcement material. Moreover, the increasing need for high-performance paints and coatings that offer enhanced durability and weather resistance serves as an additional catalyst for market growth. Along with this, the growing need for personal care items, including toothpaste and cosmetics, is driving the expansion of the said market segment.
The exceptional reinforcing characteristics of specialty silica improve the mechanical properties and durability of tyres, such as their resistance to abrasion, punctures, and grip on both wet and dry terrain. The increasing need for high-quality tyres, driven by the expanding automotive sector, particularly in emerging economies, is a key factor contributing to the growth of the specialty silica market. The introduction of Specialty Silica in tyres has also been driven by strict restrictions on fuel efficiency and carbon emissions. With this, the increasing need for specialty silica in the tyre sector will persistently propel market expansion during the said forecast period.
Specialty Silica Market Segment Insights
The specialty silica market is segmented based on product and application.
Based on product type, the specialty silica market is further segmented into precipitated silica, fumed silica, fused silica and colloidal silica. Out of which the precipitated silica dominates the market share. Precipitated silica is a type of artificial, non-crystalline silica that is created by causing a silicate solution to undergo precipitation. It is accessible in several forms such as powder, granules, and beads, and is extensively utilized in the rubber, coatings, plastics, food & drinks, personal care, and pharmaceutical industries.
Based on application, the specialty silica market is further divided into rubber, agrochemicals, oral care, the food industry, and paints & coatings. Out of which, the rubber segmentation owes the major market share among other segments of the said market. Specialty silica is considered a crucial element in the rubber industry, due to its high modulus, high shear strength, and fatigue resistance. Its extensive application in fuel-efficient tyres is anticipated to contribute to the segment's expansion in the future years. Along with this, the paints and coatings segment is anticipated to experience the most rapid growth rate during the forecast period.
Specialty Silica Market Region Insights
The specialty silica market is primarily studied across four major regions, namely, North America, Europe, Asia-Pacific and the Rest of the World. Out of which, the Asia-Pacific region dominates the market share.
The rising automobile industry in the APAC region has led to an increase in the production of tyres which in turn has a positive impact on the expansion of the specialty silica market. With the presence of major emerging economies like India, China, and South Korea that are using specialty silica at a high market rate owing to developing infrastructure and the electronic industry, the market has seen a steep rise in the growth of the said market segment. Therefore, the APAC market witnesses the provision of bigger opportunities to manufacturers of specialty silica in these kinds of developing economies, as a part of the APAC region amongst other competitive regions across the globe.
Followed by the Asia-Pacific region, the North American region is estimated to exhibit the second-highest revenue share during the forecast period. The countries in the North American region are making substantial investments in the development of cost-effective housing, which is anticipated to drive the need for paints and coatings. Furthermore, specialty silica has a significant presence in the European market, with the need for products in the region being driven by several industries, including pharmaceuticals, automotive, FMCG, and high-end luxury products. The rules about the reduction of volatile organic compound (VOC) emissions in the paints and coatings industry are anticipated to drive the need for environmentally friendly specialty silica in the region during the forecast period.
Specialty Silica Market Key Players & Competitive Insights
The specialty silica market is an extremely competitive market dominated by major multinational corporations. As a result of increased product demand in numerous industries and regions, these businesses have increased their Research and development expenditures and prioritized the development of new products. Key competitors in the said industry employ crucial strategies viz partnerships, collaborations, mergers & acquisitions, etc. to expand their business on a note.
Specialty Silica Market Key Companies Insights
- 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
- Sinosi Group Corporation
- Tosoh Corporation
- Nouryon
- Madhu Silica Pvt Ltd
Recent Developments
October 2021 -
In October 2021, CPS Inc. announced that the company was expanding their business operations in the North American region.
September 2022 -
In September 2022, Evonik Industries signed a strategic collaboration deal with Porner Group & Phichit BioPower to provide more sustainable precipitated silica to tyre manufacturers.
October 2020 -
In October 2020, Evonik introduced two new silica-based products called ACEMATT 3400 & ACEMATT 3600, designed to be used for coating applications.
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