DUBLIN--(BUSINESS WIRE)--The "Specialty Silica Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The market for Specialty Silica is anticipated to register a CAGR of 5.25% during the forecast period 2019-2024
Specialty Silica is produced in the form of round pebbles and sawed or trimmed blocks or fine powder which is further used as a key additive in the formulation of several products for various range of end-user industries including automotive, electronics, inks, coatings, and personal care, amongst others.
- The number of new tire plants and expansion projects has increased in various parts of the United States, with South Carolina getting a high share of investments, thereby augmenting the growth of the market.
- Growing preference of fumed silica over precipitated silica (internal substitution) is likely to hinder the market's growth.
- Growing emergence of green tires is projected to act as an opportunity for the market in future.
Key Market Trends
Increasing Demand from the Paints, Coatings & Inks Industry
- Precipitated silica and fumed silica are the majorly used specialty silica products in paints, coatings, and inks.
- Fumed silica act as a thixotroping agent in paints & coatings applications, in order to provide resistance against rust and corrosion. In powder coatings, fumed silica enhances the free-flow, anti-caking, and fluidization properties, hence allowing a balance between sag control, flow & leveling, and thixotropy. Whereas in liquid coatings, fumed silica offers rheology control and anti-settling properties.
- In paints, coatings, and inks industry, fumed silica is majorly used and holds the dominating position in the specialty silica market.
- Precipitated silica too is widely used in paints & coatings industry, as the flatting and matting agent properties of precipitated silica reduce the gloss of a variety of products, including coatings, paints, lacquers, varnishes and inks, while providing lower viscosity and better stir-in capability.
- Paints & coatings production is rising steadily in the global market, owing to its demand from the construction, automotive, and industrial coating applications. According to the analysis, the global paints & coatings industry is expected to reach more than 63 thousand kilo tons through 2023, owing to the burgeoning demand from the above mentioned industries.
- All the aforementioned factors, is expected to drive the global market during the forecast period.
Asia-Pacific Region to Dominate the Market
Asia-Pacific region accounted for the largest share of the global market with most of the demand comong from countries such as China and India. India is a growing economy, and holds great potential for future market opportunities. Despite demonetization and GST reforms affecting the national production volume, the impact of such reforms is slowly waning.
Moreover, the country's government has been taking initiatives to attract FDIs in the manufacturing sector, to make India a manufacturing hub. Indian roadways is the second-largest in the world. Owing to the increasing number of vehicles and traffic, the government is planning to further extend the roadways in the coming years. Growing investments in the infrastructure sector, and other strategic initiatives of the government, are expected to boost the paints & coatings demand in construction sector in the country.
The specialty silica market is fragmented. In terms of market share, the major players currently account for a small share of the market. Key players in the specialty silica market include W. R. Grace & Co., Cabot Corporation, 3M (Ceradyne Inc.), Denka Company Limited, Evonik Industries AG, Merck KGaA, and Wacker Chemie AG, among others.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Innovation and Expansion in the Tire Industry
4.1.2 Increasing Demand for Precipitated Silica from the Food Industry
4.1.3 Other Drivers
4.2.1 Growing Preference of Fumed Silica over Precipitated Silica (Internal Substitution)
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Forces Analysis
5 MARKET SEGMENTATION
5.1.1 Precipitated Silica
5.1.2 Silica Gel
5.1.3 Fumed Silica
5.1.4 Colloidal Silica
5.1.5 Fused Silica
5.2.2 Personal Care
5.2.3 Food & Feed
5.2.6 Plants, Coatings & Inks
5.2.7 Metal & Refractories
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M (Ceradyne Inc.)
6.4.2 Cabot Corporation
6.4.4 Denka Company Limited
6.4.5 Evonik Industries
6.4.6 Fuji Silysia Chemical
6.4.7 Fuso Chemical Co. Ltd
6.4.8 Glassven C.A
6.4.9 Imerys S.A.
6.4.10 Merck KGaA
6.4.12 W. R. Grace & Co.
6.4.13 Wacker Chemie AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Emergence of Green Tires
For more information about this report visit https://www.researchandmarkets.com/r/mquipu