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Specialty Silica Market is expected to increase at a CAGR of 6.9% during 2016 – 2026

01-29-2019 03:51 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Specialty Silica Market is expected to increase at a CAGR of 6.9%

According to a market report published by Future Market Insights on Global Specialty Silica market in its latest report titled ‘Specialty Silica Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment, 2016 – 2026’ The long-term outlook on the global Specialty Silica market remains a sound one, with market value of specialty silica expected to increase at a CAGR of 6.9% during the forecast period (2016 – 2026) embarking upon a market size around 10 Bn in 2026.

Speciality silica predominantly consists of silica (SiO2) and is produced in the coarse form of round pebbles and sawed or trimmed blocks or fine powder which is used as a key additive in formulation of several products and components fabricated in a wide range of end use industries such as automotive, electronics, inks, coatings, personal care products and others.

A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-577

The Specialty Silica market has been analysed on the basis of product type and application. Among the product type, the precipitated type of specialty silica has been found to contribute over 60% of the overall sales of specialty silica and is further expected to grow at a significant CAGR in terms of value over the forecast period by 2026. On the basis of application, currently the specialty silica mainly finds its use in fabrication of automotive tyres and other elastomeric products. Furthermore, the plastics segment is expected to be another high growth market for specialty silica during the forecast period, owing to its multitude of uses in product design enabled with superior performance characteristics.

In terms of the Specialty Silica market outlook and analysis by geographical regions, the Asia Pacific region has been identified as the leading segment in terms of current acquired specialty silica market value share and estimated growth in the future period which has been recorded above global average. The demand of specialty silica is considered to arise mainly from China contributing close to 60% of the global specialty silica market. North America, Japan and Europe are also considered to be the prominent regions of growth in the global specialty silica owing to established manufacturing base with automotive OEMs and ancillaries in particular. The other regions are expected to record moderate growth levels of respective markets of specialty silica in the forecast period.

The specialty silica market is susceptible to volatile pricing of raw materials which in turn has also influenced the specialty silica manufacturers to adopt alternative value chain, sales process as well as production technologies of specialty silica reducing production overhead costs, optimizing trade margins and enabling profitability. The specialty silica market has also been governed by regulations based on HSE (Health, Safety and Environment) norms so as to produce specific grades/ forms of specialty silica fully complying with mandatory guidelines.

To view TOC of this report is available upon request @ https://www.futuremarketinsights.com/askus/rep-gb-577

Specialty Silica Market Participants

Some of the market participants identified in the Specialty Silica market are Evonik AG, Akzo Nobel N.V., Cabot Corporation, Wacker Chemie, PPG Industries, Ecolab Inc., and Qindao Makall Group. The market participants of specialty silica market have envisioned two key strategies to fortify their footprint in the target specialty silica market by two methods: 1. Consolidation of market footprint and 2. Vertical/ Horizontal Integration to streamline their business operations in a more efficient manner. The former type has been achieved through setting business in untapped specialty silica market through collaborative tie-ups with regional enterprise or increasing product portfolio of specialty silica, increased spending in research and development, strengthening of sales and distribution network; whereas the latter type has involved mergers and acquisitions of small business units. For e.g. Evonik AG expanded its production capacities of specialty silica at its sites in Thailand and Japan during 2013 and 2014 respectively. In another key development, PPG Industries in 2015, announced a partnership with Goodyear Tire & Rubber company for supply of its Agilon specialty performance silica to produced enhanced tyres to increase fuel efficiency of vehicles.

About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

Contact Us
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Website: www.futuremarketinsights.com

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