According to the report “Precipitated Silica Market: By End Use Industry (Automobiles, Personal Care, Electronics, Agriculture, Food, Adhesives & Sealants and Others) & By Geography - Forecast (2016 - 2021)” published by IndustryARC, estimates the market to reach $2.46 Billion by 2021.
Browse 26 Market Tables, 149 Figures spread through 123 slides and an in-depth TOC on “Precipitated Silica Market (2016 - 2021)”
Being used as industrial non-reactive filler, precipitated silica possesses large surface area with high adsorption capacity and high hardness quotient. Apart from being used as wear resistant filler in tire industry, it is also used in various industrial applications such as manufacturing of paints & dyes, rubberized footprints, plastics products and many more. The physical properties of precipitate silica are molded accordingly catering to the various needs of end user industry. The market for precipitated silica is fairly consolidated with top five players occupying a significant market share. Increasing urbanization, growing disposable income and thus growing consumption of personal care products in countries such as China, India, U.S., Germany along with many others helped in the growth of the market of precipitate silica which is used as absorbents and thickening agents in cosmetics industry. High growth in electronics industry indirectly turns out to be a major growth factor for precipitated silica market.
The global production of precipitated silica is growing rapidly which is backed upon with incentives from government and different support policies. The global market for precipitated silica, in terms of volume, will see a highest CAGR of 6.39% in food and beverages sector. The market being less capital intensive and technologically simple provides a fair chance to new entrants in this global market.
Although precipitated silica does not have any immediate health effects on humans, environmental regulations and norms affect the demand as prolonged and frequent use can cause some health problems. This leads to precise and strict guidelines against production companies regarding usage and handling which are posing to be the constraints in this market.
Asia-Pacific region is the highest revenue generator of precipitated silica market followed by Europe and Americas. Food and beverages sector tend to have the highest CAGR of 5.94% in Asia-Pacific region owing to high demand of packed foods and increase in population.
The Prominent Players in this Market Include:
- Evonik Industries
- Solvay SA
- PPG Industries
- Huber Engineered Materials
These companies through its broad range of products, product expansion and innovation have been successful in catering to a variety of customers, consequently maintaining their hold over the market. Manufacturers of precipitated silica must follow the regulations and specifications laid by the regulatory bodies such as Food and Drug Administration (FDA), European Union (EU) and many more. The top two market players hold a little less than 30% of the market share. Moreover the market has many small scale players who embarked into the market for their low cost supply. Amongst recent developments, Evonik Industries will invest around $120 million for setting up a new production plant of precipitated silica in U.S. catering to the need of energy efficient tires in North America.
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