USD 6.38 Billion
Specialty Silica Market Size, Share, Growth Analysis, By Product(Precipitated Silica, Fumed Silica, Fused Silica, Silica Gel), By Application(Rubber, Agrochemicals, Oral Care, Food Industry), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15H2037 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
69
|Figures:
75
Specialty Silica Market Insights
Global specialty silica market size was valued at USD 6.38 Billion in 2022 and is poised to grow from USD 6.70 Billion in 2023 to USD 9.9 Billion in 2031, at a CAGR 5.0% during the forecast period (2024-2031).
The growing demand for rubber, paints, & coatings in industries such as construction and electric automobiles is propelling the specialty silica market forward. A large increase in EV production is likely to present a lucrative opportunity for the tire sector, significantly influencing specialty silica demand.
The United States controls the majority of the specialty silica market in North America. The electric vehicle (EV) market in the United States has grown significantly. As a result, there is a growing demand for innovative and energy-efficient rubber tires. Growing domestic manufacturing of these cars is likely to have a beneficial impact on specialty silica demand in the US tire sector. For example, Lion Electric stated in 2021 that it will build the country's largest medium and heavy-duty EV facility. The company plans to invest USD 70 million over the course of three years. The factory is expected to have a capacity of 20,000 all-electric buses & vehicles.
Furthermore, the United States government is focusing on providing affordable housing to its citizens, which is projected to drive demand for paints and coatings. For example, in 2021, the House Democratic enacted the Build Back Better Act, which is estimated to provide USD 170 billion in financial assistance for affordable housing. The government intends to preserve or construct over one million affordable dwellings. Growing product demand from sectors such as packaging, rubber, & paints & coatings is likely to drive market expansion in coming years. For instance, Nouryon said in 2021 that it intends to expand the capacity of its Levasil colloidal silica manufacturing factory in the United States. The expansion is intended to accommodate rising packaging and construction sector demand.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Precipitated Silica
Fastest Growth
Precipitated Silica
Growth Rate
al Specialty Silica Market size was valued at USD CAGR
Global Specialty Silica Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Specialty Silica Market Segmental Analysis
The global specialty silica market is segmented on the basis of product, application, and region. Based on product, the market is segmented into precipitated silica, fumed silica, fused silica, silica gel, colloidal silica. Based on application the market is segmented into rubber, agrochemicals, oral care, food industry, desiccants, paints & coatings, and others. Based on region the global specialty silica market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Product
The precipitated silica category had the highest revenue share of more than 34.0% in 2022. The product reinforces the fabric and increases abrasion & tear resistance. It is also widely used in PVC sheets, and it functions as a separating agent and improves pigment dispersion & tensile strength. In terms of revenue, fused silica is predicted to increase at a 7.6% annual pace over the forecast period. The material is utilized to make optical components like mirrors, UV and IR transmission optics, lenses, and metrology. It is also employed in semiconductor production due to its physical characteristics. The growing demand for semiconductors is likely to propel segment expansion throughout the forecast period.
The substance is frequently employed as a desiccant to manage environmental humidity and prevent rotting. Rising pharmaceutical and packaged food demand is likely to drive segment growth throughout the forecast period. In demand for silica gel grows significantly, prominent market participants are spending to increase capacity. W. R. Grace and Co., for example, stated in 2021 that it had finished the growth of its silica gel production plant in Kuantan, Malaysia. The plant is projected to meet expanding demand from a variety of industries, including biofuel, anti-blocking purification in plastic films in and bags, leather, matting furniture, in and coils.
Analysis by Application
The rubber category dominated the market for specialty silica, with a revenue share of more than 30.0%. Because of its high modulus, high tear strength, and fatigue endurance, specialty silica is a crucial reinforcing agent in the rubber industry. It is widely employed for fuel-efficient tires, which are expected to boost category growth in the next few years. Paints and coatings are another important application sector of the specialized silica market, and they are predicted to develop at the fastest rate over the forecast period. Specialty silica is a low-cost extender that is popular due to its chemical inertness, which allows for great heat resistance, chemical & acid resistance, and, finally, finally, it tends to increase paint viscosity.
An additional significant category for specialized silica is agrochemicals. The substance is widely used in agrochemicals for crop protection, seed treatment, & fertilizer manufacturing. Increasing crop output is also driving the manufacture of agrochemicals, which benefits market growth. In terms of revenue, the desiccants applications segment is expected to increase at a CAGR of 7.0% over the forecast period. Desiccants are utilized in a wide range of sectors, including leather, bags, drugs, food & drinks, chemicals, and electronics. Growth in those sectors is expected to boost segment growth during the forecast period.
Global Specialty Silica Market By Product
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Specialty Silica Market Regional Insights
Asia Pacific dominated the specialty silica market, accounting for more than 40% of total revenue in 2022. Growing economic development in the region's emerging countries is expected to play a significant influence in increasing tire production. Furthermore, the coating sector is likely to rise as the region's construction activity increases. Product demand is causing market leaders to expand their manufacturing facilities. For instance, the Evonik Wynca (Zhenjiang) Silica Materials commenced operations in 2021, generating Evonik's first synthesized silica factory 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 2022. 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. The European market for specialized silica is significant. Pharmaceuticals, autos, FMCG, & high-end luxury products are boosting product demand in the region. Regulations governing VOC emission reductions in the coatings & paints sector are expected to stimulate regional demand for eco-friendly specialty silica in the coming years.
Global Specialty Silica Market By Region
- Largest
- Fastest
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Specialty Silica Market Dynamics
Specialty Silica Market Drivers
Increasing Demand from End-use Industries
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Specialty silica finds applications across several industries, including automotive, electronics, construction, healthcare, and personal care. The growing demand for specialty silica in these industries, driven by factors such as rising urbanization, technological advancements, and changing consumer preferences, is a major driver for market growth.
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Chemical mechanical planarization (CMP) is a polishing technique used to get rid of undesirable conductive and dielectric materials on semiconductors and microelectronic parts. Abrasive particles used extensively in CMP slurries include fumed and colloidal silica. Because of its high purity and straightforward manufacturing, flame-pyrolyzed fumed silica is utilized extensively. By carefully removing big particles, fused silica stabilizes CMP slurries. The need for CMP slurries has increased due to the CMP industry's expansion as well as the growth of the microelectronics sector. The need for speciality silica has increased as a result.
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In the manufacture of tyres, speciality silica is frequently used as a strengthening filler. It improves the traction, sturdiness, and general performance of tyres. Specialty silica is becoming more and more necessary as the global automobile industry expands and high-performance tyres become more and more popular. The need for specialty silica in the tyre manufacturing industry has increased as a result of factors including urbanisation, a growth in the number of vehicles on the road, and a focus on fuel efficiency.
Restraints
High Production Costs
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Specialty silica production involves complex processes and requires high capital investments. The costs associated with raw materials, energy, and specialized equipment are significant. These high production costs can act as a restraint on the market growth, limiting the affordability and accessibility of specialty silica products.
Complex manufacturing techniques
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This increase production costs, require specialized workers and expensive equipment, and have lengthy durations. They also require strict quality control, increasing the risk of errors and discrepancies. Dependence on specialist knowledge and technology can limit market growth and innovation, hindering the competitiveness and expansion of the specialty silica market.
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Specialty Silica Market Competitive Landscape
The market for specialty silica is extremely competitive, with major multinational corporations dominating the industry. Rising product demand in many regions and industries has prompted these organizations to enhance R&D investments and concentrate on developing novel products.
Specialty Silica Market Top Player’s Company Profiles
- Evonik Industries AG
- Cabot Corporation
- W.R. Grace & Co.
- PPG Industries, Inc.
- Solvay S.A.
- Huber Engineered Materials
- Imerys SA
- Tokuyama Corporation
- Madhu Silica Pvt. Ltd.
- Akzo Nobel N.V.
- Nalco Holding Company
- PQ Corporation
- Wacker Chemie AG
- Oriental Silicas Corporation
- Anten Chemical Co., Ltd.
- Tosoh Corporation
- Fuso Chemical Co., Ltd.
- Kadvani Chemicals Pvt. Ltd.
- J.M. Huber Corporation
- Cabot Microelectronics Corporation
Specialty Silica Market Recent Developments
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In September 2023, Ecovyst Inc., a leading integrated and innovative provider of specialty catalysts and services, announced plans to expand silica catalyst production capability at its manufacturing facility in Kansas City, KS.
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In June 2023, Univar Solutions Inc., a leading global solutions provider to users of specialty ingredients and chemicals, announced that the Company has reached an agreement with W. R. Grace & Co. ("Grace") to distribute Grace's SYLOID® FP silica for pharmaceutical and nutraceutical markets in the majority of European countries.
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In June 2023, Solvay announced the new names of the future independent publicly traded companies that will result from its planned separation into two industry leaders: SOLVAY and SYENSQO. The new names will be effective upon completion of the planned separation of Solvay, which is on track to be completed in December 2023, following the satisfaction of customary conditions.
Specialty Silica Key Market Trends
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Growing Demand from Automotive Sector: The automotive industry is a significant consumer of specialty silica, particularly in tire manufacturing. Specialty silica is used as a reinforcing filler in tires, improving their performance, durability, and fuel efficiency. With the increasing demand for high-performance tires and the growth of the automotive industry, the specialty silica market is witnessing a rise in demand from this sector.
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Increasing Focus on Eco-friendly and Sustainable Products: There is a growing emphasis on sustainability and environmental consciousness across industries. Specialty silica offers eco-friendly solutions, replacing conventional materials with lower environmental impact. Manufacturers are increasingly using specialty silica as an alternative to reduce carbon footprints and comply with environmental regulations, driving the market growth.
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Rising Demand for Personal Care and Cosmetics Products: Specialty silica finds applications in the personal care and cosmetics industry, where it is used as an absorbent, thickener, and anti-caking agent in various products. With the growing consumer awareness regarding personal care and grooming, there is a rising demand for specialty silica in this sector. The trend towards natural and organic products also fuels the demand for specialty silica as a safe and sustainable ingredient.
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Advancements in Nanotechnology: Nanotechnology has opened up new opportunities for specialty silica applications. By manipulating the structure and properties of specialty silica at the nanoscale, it is possible to enhance its functionalities and tailor it for specific applications. Nanoscale specialty silica finds applications in electronics, healthcare, coatings, and other industries, driving market growth.
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Increasing Focus on Research and Development: Market players are investing in research and development activities to innovate and develop advanced specialty silica products. The focus is on improving performance, developing specialized grades for specific applications, and enhancing the efficiency of manufacturing processes. The continuous R&D efforts contribute to expanding the application areas and driving the growth of the specialty silica market.
Specialty Silica Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global specialty silica market analysis, the growing demand for rubber, paints, & coatings in industries such as construction and electric automobiles is propelling the specialty silica market forward. A large increase in EV production is likely to present a lucrative opportunity for the tire sector, significantly influencing specialty silica demand. Specialty silica finds applications in the personal care and cosmetics industry, where it is used as an absorbent, thickener, and anti-caking agent in various products. With the growing consumer awareness regarding personal care and grooming, there is a rising demand for specialty silica in this sector. The trend towards natural and organic products also fuels the demand for specialty silica as a safe and sustainable ingredient.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 6.38 Billion |
| Growth Rate | al specialty silica market size was valued at USD 6.38 Billion in 2022 and is poised to grow from USD 6.70 Billion in 2023 to USD 9.9 Billion in 2031, at a CAGR 5.0% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Specialty Silica Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Specialty Silica Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Specialty Silica Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Specialty Silica Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Specialty Silica Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Specialty Silica Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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