Specialty Silica Market: Introduction
In terms of value, the global specialty silica market is anticipated to expand at a CAGR of more than 6% from 2024 to 2030 and cross US$ 10 Bn by 2030. Asia Pacific dominated the global specialty silica market in terms of volume in 2019. It is estimated to be the leading region of the global specialty silica market during the forecast period. The rubber industry is projected to offer lucrative opportunities for the specialty silica market in the near future.
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Specialty Silica Market: Major Drivers and Restraints
The increase in usage of specialty silica in the manufacture of tires is expected to drive the global specialty silica market during the forecast period. Specialty silica is being aggressively adopted by tire manufacturers as a reinforcement filler. It offers higher reinforcing ability and improves fuel efficiency due to stringent environmental norms. The rise in the demand for green tires is anticipated to boost the global specialty silica market during the forecast period, as the tire application segment accounts for the majority of consumption of specialty silica. Specialty silica products are versatile raw materials for cosmetics and personal care applications. They increase the viscosity of oils and emulsions, thus improving the stability and structure of creams, lipsticks, lotions, and make-up preparations.
Specialty silica products transform cosmetic oils into highly viscous gels. This produces transparent products with the pseudo plastic flow behavior. Specialty silica products are used as thickening agents in toothpastes. This gives toothpastes the rheological body for good filling during the manufacturing process. Therefore, increase in usage of specialty silica in cosmetic and personal care products is anticipated to drive the global specialty silica market during the forecast period. Specialty silica is employed in end-use industries such as paper & pulp and textile apart from rubber. Paper & pulp and textile industries have been expanding at a sluggish pace, since the past few years. Traditionally, along with polymers, colloidal silica has been employed in paper and pulp mills for drainage aid systems. However, the demand for colloidal silica is projected to decline during the forecast period, due to the sluggish growth of the paper & pulp industry. This, in turn, is likely to marginally restrain the specialty silica market.
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Specialty Silica Market: Segmentation
Based on product, the precipitated silica segment held major share of the global specialty silica market in 2019. This trend is anticipated to continue during the forecast period. Precipitated silica is manufactured commercially by reacting sodium silicate with mineral acid. It is further precipitated under alkaline conditions. It is employed in many applications, including rubber, plastics, food processing, and pharmaceuticals. The rubber application segment constituted large share of more than 50% of the global specialty silica market in 2019. This trend is estimated to continue during the forecast period. On the other hand, the chemical mechanical planarization (CMP) segment is projected to expand at a rapid pace during the forecast period.
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Competition Landscape of Specialty Silica Market
Key manufacturers operating in the global specialty silica market include Evonik Industries AG, Solvay S.A., PPG Industries, Inc., W. R. Grace & Co., Cabot Corporation, Wacker Chemie AG, PQ Corporation, and Tokuyama Corporation.
