LONDON--(BUSINESS WIRE)--The specialty silica market is likely to experience steady growth because of the increased penetration in emerging markets and growing applications of precipitated silica in the food industry. Rising at a CAGR of almost 8%, the market is estimated to have an incremental growth of USD 3.52 billion by 2024. Download Free Sample Report
A Technavio analyst says, "The global specialty silica market will be negatively impacted by the spread of COVID-19. The expansion of containment efforts is affecting business and economic activities worldwide. If the spread of the novel coronavirus is not controlled by June 2020, the market might see a significant downside compared to our base estimates."
Technavio’s recent analysis of the specialty silica market, includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities. The study segments the markets in APAC, North America, Europe, South America, and MEA, geographically. The APAC region is expected to have a market share of 53% and will provide significant growth opportunities for market players during the forecast period.
For further information on this analysis, please visit: https://www.technavio.com/report/specialty-silica-market-industry-analysis
Need to comply with stringent government regulations and high energy requirements translating to high production costs for precipitated silica are expected to hinder the growth of the market. However, the increasing demand for paints with functional benefits will have a positive impact on the specialty silica market during the forecast period.
Technavio’s analysis of the specialty silica market also includes:
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive specialty silica market growth during the next five years
- Precise estimation of the specialty silica market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the specialty silica market industry across APAC, North America, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape
- Comprehensive details of factors that will challenge the growth of specialty silica market
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