Wiseguyreports.Com Adds “Specialty Silicas – Global Market Growth, Opportunities, Analysis Of Top Key Players And Forecast To 2025” To Its Research Database.
Specialty silicas are chemical compounds that are made predominantly from silica or silicon dioxide (SiO2). The global specialty silica Market size was valued at $5.61 billion in 2018 and is expected to expand at a CAGR of 9.4% by 2025. Increasing global concern over environmental sustainability coupled with labeling regulations by the government in different part of the world is the major driver of this industry. Specialty silica is produced in the structure of spherical pebbles, sawed or trimmed blocks, or fine powder and used as an additive in a number of products for end-user industries.
It is used as non-reactive filler because of its high absorption potential and large surface area. It is also used in adhesives as a thickening and strengthening agent. Specialty silica is commonly used in conveyor manufacturing as well as transmission belts where abrasion resistance, high tensile strength and tear resistance are enhanced.
Top Key Vendors:
Akzo Nobel, Cabot, Ecolab, Evonik Industries, Gujarat Multi Gas Base Chemicals Private, Imerys, Oriental Silicas, Solvay, Zhuzhou Xinglong Chemical Industry
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Market segmentation is based on product and application. Product segment is divided into precipitated silica, silica sol, silica gel, fused silica, colloidal silica and fumed silica. The precipitated silica led the global specialty silica industry in 2017 due to its widespread use in the tire, coatings, refractories and abrasives industries. Because of its wide range of use in compressed air systems, humidity control, syringes, drug test kits, food additives, water filtration, chromatography, and humidity indicators, silica gel is expected to progress at an accelerated rate by 2025. In paints, coatings, and inks industry, fumed silica is majorly used and holds the dominant position in the specialty silicas market.
Application is segmented into rubber, plastics, chemicals, coatings, food and healthcare, abrasives and refractories. Rubber held the largest market share in 2018. Non-tire segment rubber application is expected to rise at a moderate pace in the near future. Applications that are not exhausted include synthetic rubber, shoe soles and industrial rubber. Food and healthcare segment also accounted for a large market share due to the application of specialty silicas as a preservative.
Asia-Pacific area accounted for the biggest share of the world market with most of the demand coming from China and India. Owing to the presence of well-developed tire and automobile industry, the North America region held a sizeable share of the global specialty silicas market in 2017. The European guidelines regarding the reduction of Volatile Organic Compounds (VOC) emissions in paints and coatings enterprise is predicted to propel the demand for eco-friendly specialty silicas. Central and South America are anticipated to witness excessive growth. The developing automobile industry in Argentina, Chile, and Brazil, is envisioned to impact market growth.
Latest industry news:
The quantity of new tire plants and expansion initiatives has multiplied in several areas of the United States, with South Carolina getting a major share of the investments, augmenting the increase of the market. In order to capitalize on the growing demand for HDS from the tire industry, all primary agencies across the globe are creating and introducing new grades of dispersible silica.
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Source: EIN Presswire