Press release
Global Precipitated Silica Market Driven by Electronics, Automotive, and Cosmetics Sectors
Precipitated Silica Market
The expansion of the electronics sector, particularly in emerging economies, is driving the growth of the precipitated silica market. The Semiconductor Industry Association projected global semiconductor sales to reach $439 billion in 2020, a 6.5% increase from 2019, despite challenges like the COVID-19 pandemic. Precipitated silica's ability to provide strong insulation and thermal stability makes it an essential material in electronics manufacturing.
In addition to the electronics sector, the automotive industry is also a key driver. Precipitated silica is used in automotive applications such as tires, seals, and hoses due to its strength, durability, and ability to lower fuel consumption. The International Organization of Motor Vehicle Manufacturers (OICA) reported that global automotive production increased from 77.6 million units in 2020 to 80.1 million units in 2021. The growing adoption of green rubber tires is further boosting the demand for precipitated silica in automotive applications.
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The cosmetics and personal care industry is another crucial factor driving market growth. With the rising demand for high-quality beauty products, manufacturers are turning to precipitated silica for its ability to enhance texture, stability, and finish. This versatile material is used in skincare, haircare, and cosmetics, as it can absorb oil and improve product performance. According to L'Oréal's Annual Report, the beauty sector saw an 8.2% growth in 2021, following a decline in 2020. Additionally, Thailand's beauty and personal care market is expected to grow from $6.2 billion in 2018 to $8.0 billion in 2022, demonstrating the global growth trend in the sector.
Despite these positive drivers, the precipitated silica market faces challenges, primarily due to fluctuations in raw material prices. The cost of key ingredients such as sodium silicate and silica sand can vary significantly, creating uncertainty in manufacturing processes and affecting profit margins. Price volatility could lead to higher product costs, potentially causing demand to decrease as consumers look for cheaper alternatives. This could also impact long-term investments in production facilities and innovation, limiting the market's growth potential.
Precipitated Silica Market Segmentation
The Precipitated Silica market is categorized into three main grades: rubber grade, non-rubber grade, and food grade. The rubber grade segment dominated the market in 2023, as precipitated silica is widely used as a reinforcing filler in tires. With increasing pressure on car manufacturers to improve fuel economy and reduce vehicle emissions, the demand for green tires is expected to drive growth in this segment. Precipitated silica is also used in non-tire applications such as silicone rubber, footwear soles, and industrial rubber.
The food-grade silica segment is the fastest-growing area within the market. This growth is driven by the increasing demand for food additives and the need for anti-caking agents in powdered foods. Food-grade precipitated silica is valued for its ability to improve the texture, flowability, and functionality of powdered food products. As consumer preferences shift towards high-quality, safe food products, the demand for food-grade silica is expected to rise, making it a key area for market expansion.
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Precipitated Silica Top Companies and Competitive Landscape
The precipitated silica market is characterized by high level competition with significant players holding a concentrated market share. Such key players concentrate on innovation, quality, and sustainability as driven by the increasing demand in various applications like rubber, plastics, and personal care product.
The market is also driven by growth in the automobile and tire industry, where high-performance silica is needed to enhance the performance of the product. Apart from this, growing environment sustainability awareness incites eco-friendly production processes. Some of the major market players are Evonik Industries, PPG Industries, and Solvay S.A, amongst others, who are continuously broadening their offerings and improving their market position through strategic partnerships and acquisitions.
In July 2023, PQ Corporation developed silica production at its current site in Pasuruan, Indonesia. This leads to the expansion of the company's product portfolio.
Some of the key companies in the global Precipitated Silica Market include:
Evonik Industries AG
Oriental Silicas Corporation
Huber Engineered Materials
PPG Industries, Inc
MLA Group
Solvay S.A
Anmol Chemicals Group
Supersil Chemicals (1) Pvt. Ltd
Anten Chemical Co. Ltd.
PQ Corporation
W.R. Grace & Co
Madhu Silica Pvt. Ltd
QUECHEN
AMS Applied Material Solutions
Covia Holdings LLC.
Denka Company Limited
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Precipitated Silica Latest Industry Updates
In May 2021, Evonik Industries developed an active tire filler called Ultrasil 4000 GR that greatly enhances winter tire grip in snowy and slushy conditions.
In October 2021, PPG signed a strategic partnership with Oriental Silicas Corporation (OSC), a prominent manufacturer of silicas, sodium silicate, and factice products. As part of the arrangement, Taiwan-based OSC of Greater China will serve as a sales representative for various grades of PPG silica products used by tire producers in the Asia-Pacific area.
In January 2024, PPG stated today that it has hired Morgan Stanley & Co. LLC as a financial advisor to assist in the examination of strategic alternatives for its silica products business.
Precipitated Silica Market Segmentation Analysis
Grade Outlook (Revenue, USD Million; 2020-2033)
Rubber Grade
Non-rubber Grade
Food Grade
Application Outlook (Revenue, USD Million; 2020-2033)
Fishing Boats
Adhesives & Sealants
Coating & Inks,
Food
Others
End Use Industry Outlook (Revenue, USD Million; 2020-2033)
Personal Care & Cosmetics
Automotive
Agriculture
Electronics
Others
Regional Outlook (Revenue, USD Million; 2020-2033)
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Benelux
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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View Additional Related Reports:
Precipitated Silica Market Size @ https://www.emergenresearch.com/industry-report/precipitated-silica-market/market-size
Precipitated Silica Market Share @ https://www.emergenresearch.com/industry-report/precipitated-silica-market/market-share
Precipitated Silica Market Trends @ https://www.emergenresearch.com/industry-report/precipitated-silica-market/market-trends
Precipitated Silica Regional Market Demand @ https://www.emergenresearch.com/industry-report/precipitated-silica-market/regional-market-demand
Precipitated Silica Market Analysis @ https://www.emergenresearch.com/industry-report/precipitated-silica-market/market-analysis
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