3 Key Insights on the US$ 9 Bn Opportunity in Global Specialty Silica Market: Ken Research

Driven By the Wide Applications of Specialty Silica in Automotive, Paints & Coatings, And Many Other Industries, The Global Specialty Silica Market Is Forecasted to Cross US$ 9 Bn By 2028 says Ken Research Study.

Specialty silica is manufactured in the form of round pebbles or fine powders and is further used as key additives in the formulation of several products for various end-use industries such as automotive, electronics, inks, coatings, and personal care products. Silica is a compound of silicon and oxygen (SiO2), two of the most common elements in the earth's crust. Silicon dioxide occurs naturally as agate, sand, quartz, cristobalite, and flint. It is one of the major constituents of dental porcelain, and in granular form serves as a dental abrasive and polishing agent.

"Ken Research shares 3 key insights on this high-opportunity market from its latest research study"

1. Increasing Usage of Amorphous Specialty Silica in Personal Care and Cosmetics Sectors Provides an Opportunity for the Market Growth

According to Ken Research Analysis, the Global Specialty Silica Market was valued at ~US$ 4 billion in 2017. It is estimated to be ~US$ 6 billion in 2022 and is forecasted to reach a market size of ~US$ 9 billion by 2028, growing at a CAGR of ~7% from 2022 to 2028.

Silica is the most commonly used ingredient in cosmetics and skin care products because it improves the feel and texture of formulations. It has many functions, such as acting as a bulking agent, absorbing agent, anti-caking agent, and as abrasive which makes it one of the most commonly used ingredients in products such as lotions, sunscreens, and makeups.

For skin care products, its abrasive properties allow it to act as an exfoliant in products such as body wash and face wash. In addition, the spherical silica particles allow the product to spread easily and evenly. For cosmetics, silica has absorptive properties and helps the product absorb excess oil and sweat from the skin. It improves the texture of the product and increases its volume.

Furthermore, after the 2015 ban on plastic microbeads in cosmetics, many manufacturers turned to amorphous silica. Amorphous silica gel is an excellent skincare ingredient with spherical particles that spread smoothly and absorb sweat and sebum.

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2. Rising Demand for Specialty Silica in Automotive and Construction Industries Fuelling the Market Worldwide 

In the field of automotive parts and materials, there is an increasing demand for products such as special silica with excellent functionality and environmental performance. Growth in the automotive industry in many countries is expected to stimulate demand for tires and boost the silica market. Furthermore, the increasing use of the product in the production of environmentally friendly tires is supported by various benefits such as increased shelf life and fuel efficiency will propel the demand in various other industries.

The number of new tire plants and expansion projects is increasing in various regions of the USA, with South Carolina receiving the highest share of the investment, thereby boosting the growth of the market. Specialty silicas are mainly used in tire manufacturing due to their very high purity and low moisture absorption.

High-purity silicon dioxide can be converted into silicon, which is being tested in the electric vehicle industry to replace or increase carbon in battery anodes to dramatically extend charge intervals. As the automotive industry is one of the most important end-use industries for specialty silica, the increasing adoption of electric vehicles is impacting the overall market growth.

The graph below represents the worldwide share of electric vehicles by countries in 2020:

3. The Easy Availability of Materials that can be used as Substitutes for Silica is the Major Challenge Faced by the Specialty Silica Market

The expensive nature of fused silica and the availability of substitutes such as oxides of magnesium (magnesia), aluminium (alumina), and calcium (lime) are estimated to adversely affect the global specialty silica market. Furthermore, the accessibility of inexpensive substitutes for silica gel, such as clay and bentonite hamper the demand for specialty silica.

The table below represents the list of substitutes that can be used in place of specialty silica in various end-use industries:

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Key Topics Covered in the Report

Snapshot of Global Specialty Silica Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Specialty Silica Market
Historic Growth of Overall Global Specialty Silica Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of Global Specialty Silica Industry
Overview, Product Offerings, Strengths, & Weaknesses of Key Competitors
Covid-19 Impact on the Overall Global Specialty Silica Market
Future Market Forecast and Growth Rates of the Total Global Specialty Silica Market and Segments
Analysis of Global Specialty Silica Market
Major Production/Supply and Consumption/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region

Notable Key Players Mentioned in the Report

Cabot Corporation
Akzo Nobel N.V.
Evonik Industries
Huber Engineered Materials
Solvay
PQ Corporation
Madhu Silica Pvt. Ltd.
Wacker Chemie AG
PPG Industries, Inc.
W. R. Grace & Co.

Notable Emerging Companies Mentioned in the Report

AeroShield
WaferPro
Ultra HPQ
Ashtamers Pvt.Ltd.
Qingdao Hengze Silica Gel Products Co.,Ltd

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Specialty Silica Manufacturers
Specialty Silica Suppliers
Precipitated Silica Suppliers
Fumed Silica Suppliers
Fused Silica Suppliers
Silica Gel Suppliers
Colloidal Silica Suppliers
Specialty Silica Distributors
Emerging and Startup Companies in Specialty Silica
Different Types of Specialty Silica Research Labs
Government Ministries and Departments of Minerals
Government Departments of Electronics
Ministries and Departments of Paint & Coatings
Importers and Distributors of Specialty Silica

Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022E-2028F

For More Information on the Research Report, refer to below links: -

https://www.kenresearch.com/business-research/global-specialty-silica-market-outlook-2028/

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.