PrecipitatedSilica Market: Introduction
The global precipitatedsilica market was valued at US$ 3.5 Bn in 2018 andis anticipated to expand at a CAGR of ~4% during theforecast period. Among applications, the rubber segment held a major share ofthe global precipitated silica market in 2018. Increasein the demand for energy-efficient tires in the global automobile sector isanticipated to propel the segment during the forecast period. Energy-efficienttires filled with precipitated silica enable less fuel consumption with swiftvehicle movement. The precipitated silica market in Europe is likely to expandat a rapid pace during the forecast period, owing to increase in expenditure onthe construction of precipitated manufacturing facilities in the region.
Key Drivers of Precipitated SilicaMarket
Over thelast decade, energy-efficient tires have witnessed rise in the demand, as theyoffer low rolling resistance, reduce CO2 emissions, and decrease fuelconsumption; thereby controlling the pollution. Increase in the demand forpassenger car vehicles largely in developing nations is a major factorpropelling the demand for energy-efficient tires. The global automotiveproduction has increased by 15% since 2010.Focus on reduction of vehicle weight has been a key trend in the automotiveindustry so as to reduce CO2 emissions. Precipitatedsilica is being increasingly adopted by tire manufacturers as a reinforcement filler,owing to legislations on tire labelling and stringent regulations regardingenvironment protection. Precipitated silica offers high reinforcing ability andenhances fuel efficiency. On the other hand, carbon black has higher rollingresistance, which results in higher consumption of fuel. Thus, precipitatedsilica is used as a substitute for carbon black in the global tire industry toa certain extent. Thus, rise in the demand for energy-efficient tires isexpected to boost the global precipitated silica market in the near future.
Request Sample
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3126
Asia Pacific Leads PrecipitatedSilica Market
AsiaPacific dominated the global precipitated silica market in 2018.Dominance of Asia Pacific can be ascribed to increase in the demand forpassenger car vehicles in the region. By the end of the forecast period, AsiaPacific is projected to account for 34.17% shareof the global market, in terms of revenue. China has become a major consumerand manufacturer of precipitated silica in this region, due to large productionof tires in the country. The precipitated silica market in Europe is expectedto witness rapid growth during the forecast period, owing to introduction ofregulations on tire labelling. Furthermore, increase in the spending onconstruction and capacity expansion of precipitated silica facilities with theintroduction of several initiatives by regulators to minimize carbon pollution,save fuel costs, and reduce the number of tire-related crashes are other fewkey factors anticipated to propel the market during the forecast period.
More Trending Reports
Major Developments in PrecipitatedSilica Market
In October2018, Evonik Industries AG opened a precipitated silica plantat a cost of US$ 120 Mn toserve the tire industry in South Carolina, the U.S. The move is intended toexpand the company’s footprint in the North America market. In April2018, Tata Chemicals Limited signed an agreement withAllied Silica Limited to acquire the latter’s precipitated silica business unitfor US$16.83 Mn. The business transfer agreement with includes acquisitionof the latter’s existing manufacturing site in Tamil Nadu (India), whichproduces highly dispersible silica (HDS). This acquisition would lead tobuilding of technologically enabled, differentiated businesses of TataChemicals Limited.
In January2017, Evonik Industries AG acquired the specialty additivesbusiness division of Air Products, Inc., a U.S.-based company, for US$3.8 Bn to expand its business in Asia and Americas.
Request Covid19 analysis on thismarket
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=3126
Competition Landscape ofPrecipitated Silica Market
The globalprecipitated silica market is dominated by large players operating across theworld. Prominent players operating in the global precipitated silica market are Oryzasil Silicas Naturais, Madhu Silica Pvt. Ltd, Agile Nobel, Inc., TataChemicals Ltd., Oriental Silicas Corporation, Brisil, Solvay S.A., PPGIndustries, W. R. Grace & Co., and Evonik Industries AG.
Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=3126<ype=S
About Us
TransparencyMarket Research is a next-generation market intelligence provider, offeringfact-based solutions to business leaders, consultants, and strategyprofessionals.
Our reportsare single-point solutions for businesses to grow, evolve, and mature. Ourreal-time data collection methods along with ability to track more than onemillion high growth niche products are aligned with your aims. The detailed andproprietary statistical models used by our analysts offer insights for makingright decision in the shortest span of time. For organizations that requirespecific but comprehensive information we offer customized solutions throughadhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problemsolving methodologies and leveraging existing data repositories.
TMR believesthat unison of solutions for clients-specific problems with right methodologyof research is the key to help enterprises reach right decision.
US OfficeContact
90 StateStreet, Suit e 700
Albany, NY12207
Tel:+1-518-618-1030
USA - CanadaToll Free: 866-552-3453
Email:sales@transparencymarketresearch.com
