What's driving the Precipitated silica market growth?

Precipitated silica market will be driven by rapidly growing automotive industry in Asia Pacific. Product is extensively used in tire manufacturing to reduce the fuel consumption and increase tire grip. It is combined with tire rubber to improve the tire grip and decrease its rolling resistance. This decreased rolling resistance helps to improve fuel efficiency. According to the OICA, global automotive production in 2014 was 89.7 million units and reached to 95.6 million units in 2018. This healthy growth in automotive production will propel the precipitated silica demand over the forecast timespan, 2019-2025.

Growing commercial farming across the globe is likely to fuel the precipitated silica market growth during the forecast period. Product usage as a free flow agent in agrochemicals is growing with a rapid CAGR from past few years due to its improved chemical stability and absorption ability. Agrochemicals are highly used in commercial farming to increase the production and profitability. Global population is expected to reach 9.7 billion by 2050 and to feed this burgeoning population commercial farming will play vital role. Increasing large-scale farming and usage of genetically modified (GM) crop will fuel the agrochemical usage in agriculture, which in turn will drive the precipitated silica market over the forecast period.

Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/3607

Precipitated silica is used highly in application segments such as rubber, agrochemical, oral care, food, etc. Growing awareness regarding healthy lifestyle, hygiene and wellness will propel the oral care market growth during the forecast timespan. Precipitated silica is used to manufacture toothpaste due to its properties such as protection from general cavities, reductions in tooth sensitivity, enhanced whitening, plaque and gingivitis.

According to the World Health Organization (WHO), in 2016 oral diseases affected almost half of worlds population (3.58 billion) due to which WHO is running the public campaign and assisting member countries to increase the oral health awareness among the masses. This increasing awareness regarding oral care is projected to help the precipitated silica market to grow further in coming years. Other application segments of precipitated silica include, paints & coatings, plastic, defoamers, etc.

In paints & coating it is used as a thickening & high-performance flatting agent and anti-corrosion pigments to improve the sustainability, performance and workability of paints & coating. Growing construction industry in Asia Pacific will drive the paints & coatings market over the forecast period.

Get More Details @ https://www.gminsights.com/inquiry-before-buying/3607

Asia Pacific precipitated silica market was the largest in 2018 and likely to remain the largest over the forecast timespan. This can be attributed to the high growth in the end-use industries in the region. For instance, according to the OICA reports, automobile production in India in 2014 was 3.8 million units, which increased to 5.1 million units at the end of 2018.

This trend can be experienced all over the region owing to the increasing population and disposable income in Asia Pacific. In addition, increasing population, improving lifestyle and disposable income are also driving the food and agriculture industry growth in the region. North America was another major region in precipitated silica market in 2018 and is anticipated to grow with a healthy CAGR during the forecast period. Healthy lifestyle and large commercial and organized agriculture industry were the major attributes behind it.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/3607

Many multinational conglomerates are operating in the precipitated silica market. Some prominent players working in the industry includes, PPG Industries, Evonik Industries, W.R. Grace & Co., Solvay SA, Huber Engineered Materials, Tosoh Silica Corporation, PQ Corporation and Madhu Silica Pvt. Ltd. Many multinational companies operating in the industry are increasing their production capacity to meet the growing precipitated silica demand and achieve the cost effectiveness. For instance, in June 2018, Evonik Industries announced that it will increase its precipitated silica production capacity in Turkey by 40 kilo tons to meet the increasing product demand from tire industry. Evonik and the EGE KIMYA operates in a joint venture in Turkey and this new production plant is expected to be operational by 2020.

Contact Us
Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.a
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.