LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global precipitated silica market to grow at a CAGR of over 6% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global precipitated silica market for 2017-2021. The report also lists end-user industries such as an automobile, cosmetics, electronics, and agriculture to arrive at the size of the market.
According to Chandrakumar Badala Jaganathan, a lead analyst at Technavio for specialty chemicals research, “The growing application of precipitated silica in the cosmetics, and food and beverage industries is supporting the growth of the market, which will be further strengthened by the growing economies of Brazil and APAC.”
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Technavio chemicals and materials analysts highlight the following three market drivers that are contributing to the growth of the global precipitated silica market:
- Increasing demand for energy-efficient tires in the automotive industry
- Food and feed products driving precipitated silica market
- Increasing applications in adhesives and sealants
Increasing demand for energy-efficient tires in the automotive industry
The flourishing automotive industry is the largest end-user industry for the precipitated silica market. In the automotive industry, precipitated silica is predominantly used in various applications such as automotive tire production, coating and paint applications, adhesive and sealant applications.
Precipitated silica-made tires are generally called green tires due to their high fuel efficiency. Shifting customer preferences has led to the growth of automobiles with a significant focus on environment and safety concerns. The automotive industry has introduced several such automobile models, which include fuel-efficient, lightweight, and low-emission vehicles.
Food and feed products driving precipitated silica market
Precipitated silica is predominantly used in food and feed products as a carrier and free flowing agent. Precipitated silica is used to maintain the free flow of powders and prevent clumping. Precipitated silica absorbs the excess moisture from food and feed products and helps them appear fresh.
“Increase in the global population and growth of the economy has led to an increase in the production and consumption of food and feed products, which, in turn, has improved the sales of precipitated silica products in the market,” says Chandrakumar.
Increasing applications in adhesives and sealants
Adhesives and sealants are one of the major application segments of the precipitated silica market. Precipitated silica products are used as a thickening, stabilizing, and reinforcing agent in adhesive and sealant applications. The evenly distributed silica particles in liquid adhesives increase the hardening speed and enhance the bond strength between solid surfaces.
Precipitated silica-based adhesives and sealants are used in the chemical and pesticide industry and are used in the conversion of liquid chemicals to powder form. The growth of the global adhesives and sealants market in recent years is driving the growth of the global precipitated silica market.
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- Global Specialty Silica Market 2017-2021
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