Specialty Silica Market is Expected to Continue in Next Few Years Due to Expansion of End-Use Industries

Market Overview:

As per the research analysis report on the Specialty Silica Market, the global market has achieved a value of USD 5.1 billion in the year 2016. It is expected to grow at a CAGR of 6.1% in the forecast period of 2016 to 2030.

Precipitated silica, fused silica, fumed silica, silica gel, and colloidal silica are five essential forms of silica that are widely utilised in end-user sectors such as paints & coatings, rubber, electronic components, agriculture,  electronic components, personal care & cosmetics, and others. Because of its vast applicability, the vehicle industry will always be the leading application segment for the speciality silica market, thanks to tyre production and attempts to reduce carbon emissions. Furthermore, because of rising concerns about fossil fuel depletion and severe emission regulations, the automotive industry is turning to green tyres, which will benefit the speciality silica market. The speciality silica market will grow in the future due to rising demand for anti-caking, UV protection, and dispersive qualities in personal care and cosmetics products. Speciality silica is widely utilised in the rubber industry due to qualities such as high tensile strength and abrasion resistance, which is likely to increase demand in the forecasted period.

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During the projected period,  issues such as the high cost of colloidal silica and the availability of low-cost replacements would constrain the Specialty, Silica Market. Concerns about the low supply and depletion of fossil fuels have increased ten folds. This would likely offer the global market significant growth opportunities to focus on over the projection period.

Market Segmentation:

The global Specialty Silica Market is segmented on the basis of type, function, and others. On the basis of the type of market, Specialty Silica Market is segmented into advanced ceramic materials, electronic chemicals, construction chemicals, mining chemicals, food additives, construction chemicals, oilfields chemicals, plastic additives, pesticides, and others. According to the segment of function, the market is further classified into antioxidants, catalysts, speciality coatings, biocides, speciality pigments, enzymes, and others. 

Regional Analysis:

The regional segmentation of the global Specialty Silica Market is classified as North America, Asia-Pacific, Europe, Africa, the Middle East, South and Central America, and others. The speciality silica industry is dominated by the APAC region. The growing vehicle sector has resulted in an increase in tyre production, which has a beneficial impact on speciality silica market share expansion.

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Industrial News:

• In October 2021, U.S. Silica Holdings, Inc., a diversified global performance materials company, which is one of the major producers of high-value minerals and speciality products, a prominent key player in the speciality silica market had, announced that the company would commence a strategic review of it’s industrial and speciality products segment. A range of outcomes is being studied, including the sale or separation of the ISP component.
• In October 2021, CPS Inc. announced that the company had decided to concentrate its future manufacturing efforts on the North American patterned solar glass industry. This decision was made after a thorough assessment of several end markets for glass manufacture. Its features of low-iron silica sand deposit and high purity level make it an ideal deal for solar glass manufacturing.

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