Precipitated Silica Market to Touch ~US$ 5 Bn by 2027, Application Paves Way to Green Tires in Automotive: TMR

ALBANY, N.Y., July 21, 2020 /PRNewswire/ -- Precipitated silica in various forms are extensively utilized as an additive in personal care, rubber, food and feed, agrochemicals and paints and coatings. Strides in the production of eco-friendly and better-performing tires for automotive industry has spurred prospect of precipitated silica market, and drive it clock CAGR of ~4% during 2019 – 2027.

Analysts at TMR opine that market players should lean on product diversification and strengthen their production operations in order to gain a competitive edge in the overall precipitated silica market. In upcoming years, this will also help them to overcome the shocks of COVID-19 pandemic.

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Key Findings of Precipitated Silica Market Report

• Of all the applications, personal care industry offers robust impetus to revenue generation in precipitated silica market globally
• Rubber industry has seen extensive uptake in precipitated silica market; the segment also accounted for the leading share in 2018
• Europe to offer promising share of market revenues each year during assessment period
• Asia Pacific with 34.17% revenue share in 2018 is the leading regional market; its status quo is unlikely to change till 2027; China is major consumer and producer of precipitated silica

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Precipitated Silica Market: Key Driving Factors and Promising Avenues

• Precipitated silica has replaced carbon black in numerous applications, such as in rubber industry. New array of products in the precipitated silica market enable rubber manufacturers to develop tires with a good balance of tire tread properties, which helps bring down the number of tire-related crashes.
• Rapidly growing utilization of precipitated silica additives in making range of cosmetics and personal care industries is also bolstering prospects in the precipitated silica market.
• Rise in automotive production in recent years has spurred demand for precipitated silica.
• Green tires has expanded the horizon of utilization of precipitated silica in reducing the carbon footprint of automotive sector.
• Players are looking utilize abundant agriculture wastes as one of the feedstocks. A case in point is the promising potential of rice husks in making sustainable precipitated silica.

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Precipitated Silica Market: Competitive Assessment

Stakeholders in precipitated silica market have been leaning on realigning their strategies to maintain their bottomline in the wake of COVID-19 lockdown disruptions in several countries. Chemical producers have ramped up their investments in new production plants in developing countries. Moreover, top players in the precipitated silica market have committed huge funds on research and development activities.

Various players in key regional markets are focusing in unveiling novel precipitated silica additives for end-use industries. They are also forming partnerships with coating manufacturers to leverage the synergy in meeting the needs of construction, aerospace, automotive, and energy industries.

Analyze Precipitated Silica Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Precipitated Silica Market: Regional Assessment

Of the various regions, Asia Pacific was a dominant market in 2018. China accounted for a major share of revenues to the regional market, since it has been a prominent global producer as well as consumer of precipitated silica.

Meanwhile, North America has been remarkable lucrative region over the past few years. Rapidly rising demand in personal care industry underpins the rising revenue potential of the regional market. Further, the growing demand for green tires has kept the demand for precipitated silica attractive.

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The Precipitated Silica Market can be segmented as follows:

Precipitated Silica Market, by Application

• Rubber
• Personal Care
• Agrochemicals
• Others

Precipitated Silica Market, by Region

• North America
• U.S.
• Rest of North America
• Europe
• Germany
• U.K.
• France
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• ASEAN
• Rest of Asia Pacific
• Latin America
• Brazil
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the global Chemicals and Materials Industry,

Nanosilica Market - The global nanosilica market is primarily driven by increasing use of nanosilica in paints and coatings and construction applications. The demand for nanocoatings in aviation, automobile, and medical applications is estimated to increase in the near future. This, in turn, is projected to fuel the demand for nanosilica during the forecast period. The application of nanomaterials in concrete helps enhance the properties of concrete. Nanosilica, owing to its small particle size, can positively affect properties of concrete by changing its microstructure.

Pozzolan Market - Growth of the global construction industry is estimated to boost the global pozzolan market during the forecast period. According to the World Economic Forum, the global construction industry employs more than 100 million people worldwide and accounts for 6% of the global GDP. The global construction industry is estimated to expand at a CAGR of 4.2%, in terms of value, between 2018 and 2023.

Specialty Silica Market - The global specialty silica market is projected to grow at a CAGR of more than 6% between 2019 and 2027. Specialty silicas are majorly used in tire applications to partially reduce the use of carbon black. Hence, growth in automotive industry is likely to drive specialty silica market during the forecast period.

Lithium Silicate Market - Rise in demand for lithium silicate for use in concrete applications and increase in usage of these chemicals in ceramic applications are expected to drive the global lithium silicate market in the next few years. This is prompting companies to increase the production of lithium silicate. Additionally, easy availability of raw materials required to manufacture lithium silicate is anticipated to boost the global lithium silicate market during the forecast period.

Active Calcium Silicate Market - The major growth driver for the global active calcium silicate market is the recent recovery in the construction industry after the economic recession. Increasing spending on the residential and commercial construction projects have positively influenced the global active calcium silicate market. The increasing demand for the passive fire protection and acoustic insulation are expected to spur the application of active calcium silicate in the future.

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