Asia Pacific to dominate the Precipitated Silica Market during the forecast period
Asia Pacific will dominate the Precipitated Silica Market in the coming years. It is expected to reach a revenue of $1,432.74 million by 2023 at a CAGR of 4.88%. Asia Pacific has a favorable economic outlook due to the large economic developments in China and other developing countries. Increasing population and rapid industrialization are the reasons for this growth. Higher disposable income in growing nations contribute to growing levels of hygiene. This has benefited the sale of personal care products in the developing regions, where cream and paste based products are used commercially. The consumption of precipitated silica in China is high due to the increasing demand for personal care products in the region.
Selected Analysis done in the full Report:
Value chain analysis is a useful tool to analyze the activities that include design, production, marketing and distribution of a particular product. The market for precipitated silica is big, complex, and a key part of the manufacturing industry. In addition, it’s a changing business and one that adds significantly more than chemical packages and components to the value chain. It is also a business that is well positioned to add even greater value in the future. The major steps involved in contributing to the total value chain of the precipitated silica market are described below:
The value chain of precipitated silica mentioned in the slide above, analyzes the major steps involved in manufacturing the raw materials- sodium carbonate and sulphuric acid in this case, and then adding requisite additives in order to produce precipitated silica. The value chain starts with the procurement of these raw materials, and many other processes are followed further, eventually transforming them into precipitated silica. Most of the precipitated silica manufacturers initiate their integration into the value chain from purchasing raw materials.
All the manufacturers in the market place have their own in-house facilities used to convert raw materials into end products. This forms the main reason why many of the manufacturers in the market place have their own units of production for Precipitated Silica.
Value chain for precipitated silica has been established as an interdependent and complex network, comprising of raw material providers, environmental agencies, distributors, end users and material science research institutes.
The automobiles sector in 2016 earned a revenue of $648.4 million. It is expected to generate a revenue of $955.28 million by 2023 at a CAGR of 4.76%. In the automobile industry, precipitated silica is used to manufacture green tires. The rolling resistance of tires causes 20% of fuel consumption and it becomes necessary to reduce it. Precipitated silica can reduce the rolling resistance and improve traction on wet surfaces. It can improve the tear resistance of truck and heavy equipment tires and even enhance the adhesion of between metallic reinforcement and the rubber of radial tires. Industrial rubber which is in the conveyor and transmission belts is manufactured using precipitated silica. Apart from use in green tires, precipitated silica is also used in battery separator segments.
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Excerpts on Market Growth Factors:
With the growth of automobile industry, the demand for good quality tires is in huge demand. Tires which have precipitated Silica, are more durable with less resistance on the ground. This factor can improve the vehicle’s fuel economy and can reduce global warming by lowering the amount of gas expelled.
Growing demand in the construction industry will enhance the growth of paints and coatings. Precipitated Silica agents which are mixed with paint can improve its viscosity and can enhance scratch resistance.
Growing demand of the construction industry enhances the growth of paints and coatings. The viscosity of paints and their scratch resistance can be improved by mixing precipitated silica agents in them.
Precipitated Silica plays an important role in the food industry. It prevents caking problems in the food products. It can also improve storage stability, minimize dust generation, and has a good adsorbent quality.
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Key players of the Precipitated Silica Market:
Evonik industries, PPG industries, Solvay, and Huber are the leading players in the Precipitated Silica Market. Evonik industries has produced SIPERNAT which is a fine loose powder available in granular form for specific applications. It has also produced AEROSIL which is used in the cosmetics industry. PPG Industries manufactures FLO-GARD which is used by food and animal feed manufacturers. Solvay produces Tixosil, which is used for oral care, animal nutrition, and food applications. Huber deals with the field of water, waste water, and sludge treatment.
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