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

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.