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

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.