SpecialtySilica Market: Introduction
In terms ofvalue, the global specialty silicamarket is anticipated to expand at a CAGR of more than 6%from 2020 to 2030 and cross US$ 10 Bn by 2030.Asia Pacific dominated the global specialty silica market in terms of volume in2019. It is estimated to be the leading region of the global specialty silicamarket during the forecast period. The rubber industry is projected to offerlucrative opportunities for the specialty silica market in the nearfuture.
Specialty Silica Market: MajorDrivers and Restraints
Theincrease in usage of specialty silica in the manufacture of tires is expectedto drive the global specialty silica market during the forecast period.Specialty silica is being aggressively adopted by tire manufacturers as areinforcement filler. It offers higher reinforcing ability and improves fuelefficiency due to stringent environmental norms. The rise in the demand forgreen tires is anticipated to boost the global specialty silica market duringthe forecast period, as the tire application segment accounts for the majorityof consumption of specialty silica. Specialty silica products are versatile rawmaterials for cosmetics and personal care applications. They increase theviscosity of oils and emulsions, thus improving the stability and structure ofcreams, lipsticks, lotions, and make-up preparations.
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Specialtysilica products transform cosmetic oils into highly viscous gels. This producestransparent products with the pseudo plastic flow behavior. Specialty silicaproducts are used as thickening agents in toothpastes. This gives toothpastesthe rheological body for good filling during the manufacturing process. Therefore,increase in usage of specialty silica in cosmetic and personal care products isanticipated to drive the global specialty silica market during the forecastperiod. Specialty silica is employed in end-use industries such as paper &pulp and textile apart from rubber. Paper & pulp and textile industrieshave been expanding at a sluggish pace, since the past few years.Traditionally, along with polymers, colloidal silica has been employed in paperand pulp mills for drainage aid systems. However, the demand for colloidalsilica is projected to decline during the forecast period, due to the sluggishgrowth of the paper & pulp industry. This, in turn, is likely to marginallyrestrain the specialty silica market.
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Specialty Silica Market:Segmentation
Based onproduct, the precipitated silica segment held major share of the globalspecialty silica market in 2019. This trend is anticipated to continue duringthe forecast period. Precipitated silica is manufactured commercially byreacting sodium silicate with mineral acid. It is further precipitated underalkaline conditions. It is employed in many applications, including rubber,plastics, food processing, and pharmaceuticals. The rubber application segmentconstituted large share of more than 50% of the global specialtysilica market in 2019. This trend is estimated to continue during the forecastperiod. On the other hand, the chemical mechanical planarization (CMP) segmentis projected to expand at a rapid pace during the forecast period.
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Competition Landscape of SpecialtySilica Market
Keymanufacturers operating in the global specialty silica market include EvonikIndustries AG, Solvay S.A., PPG Industries, Inc., W. R. Grace & Co., CabotCorporation, Wacker Chemie AG, PQ Corporation, and Tokuyama Corporation.
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