Fresh Food Packaging Market Size, Share, Growth Analysis, By Packaging Type(Rigid and Flexible), By Material(Plastic, Paper & Paper Board, Bagasse, Polylactic Acid), By Application(Eggs, Meat and Seafood, Fruits and Vegetables, Dairy Products), By Region - Industry Forecast 2024-2031

Asia Pacific dominated the specialty silica market, accounting for more than 40% of total revenue. Growing economic development in the region's emerging countries is expected to play a significant influence in increasing tire production. Furthermore, the coatings sector is expected to expand as a result of growing construction activity in the region. Product demand is driving leading market players to increase their manufacturing facilities. For example, Evonik Wynca (Zhenjiang) Silicon Material began operations in 2021, making it Evonik's first fumed silica facility in China. Evonik intends to position itself by establishing a worldwide supply chain for its Chinese and Asian customers.

North America had the second-largest share in 2021. The countries in the area are investing in the building of affordable housing, which is likely to drive demand for coatings and paints. For example, in April 2022, the Canadian government dedicated USD 10 billion to the total housing programme for the next five years. Europe is an important market for specialty silica. Pharmaceuticals, autos, FMCG, & high-end luxury products are boosting product demand in the region. Regulations governing VOC reductions in emissions in the coatings and paints sector are projected to drive demand for eco-friendly specialty silica in the region in the coming years.