Press release
Specialty Silica Market | Growing at a CAGR of 6.1% to 2022
Specialty Silica Market
Evonik Industries, Akzo Nobel N.V., Cabot Corporation, Wacker Chemie AG, PPG Industries, Inc., Huber Engineered Materials, Solvay S.A., W. R. Grace & Co., Nalco Holding Company, Madhu Silica Private Limited among others are some of the prominent players at the forefront of competition in the Global Specialty Silica Market and are profiled in MRFR Analysis.
Specialty Silica Market – Overview
Specialty Silica are predominantly utilized in various application such as paints & coatings, food & beverage, electronic components, agriculture, rubber, personal care & cosmetics, and others. Specialty Silica Market is predicted to witness moderate growth on account of continuous growth of automotive sector and paints & coatings industry. Among product type segment, precipitated silica is expected to register strong growth in the near future due to their usage in cosmetics, oral care, rubber, food & beverage, and automotive tires. Furthermore, increasing construction activities along with rising consumption of paints & coatings is estimated to increase the demand for Specialty Silica.
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Geographically, Asia Pacific emerged as the largest market for specialty silica in 2016 and is expected to retain its dominance over the assessment years on account of rising demand from automotive, construction, and food & beverage sector specifically in China, India, Japan, Vietnam, Thailand, Taiwan, and South Korea. Furthermore, economic growth in this region along with rapid industrialization has enabled greater production and sales of passenger as well as commercial vehicles. Furthermore, increased investment by major operating players in their R&D activities and shifting of Specialty Silica production facilities as well as significantly growing end use industries in this region is expected to drive the specialty silica regional market growth. North American market is predicted to witness steady growth on account of increasing demand from pharmaceutical sector. In North America, U.S. and Canada are among the major contributor in the regional market growth due to strong growth of food & beverage and cosmetic industry. Europe is estimated to witness steady growth due to increasing automotive production and sales in various countries such as Germany, Italy, and UK. The Middle Eastern & African market is estimated to register above average growth due to rising demand for personal care and cosmetic products specifically in Qatar, Turkey, the United Arab Emirates, Oman, and Saudi Arabia. Latin American countries such as Brazil, Argentina, and Mexico is predicted to register moderate growth on account of rising disposable income along with strong consumer base for automotive industry.
Industry/ Innovation/ Related News:
December 2017- AkzoNobel announced to expand its modified colloidal silica production capacity at its Bohus facility close to Gothenburg. This plant expansion is expected to complete by late 2018 and will cost around USD 5 Million. This expansion will help company to meet the increasing demand for colloidal silica and will strengthen company’s leadership position in the market.
August 2017- Evonik Industries AG announced to expand its fumed silica manufacturing capacity at its Antwerp, Belgium based plant. The plant is predicted to become operational in the mid of 2019. With this capacity expansion, the company supported the market growth for fumed silica across Europe and other prominent export markets, and at the same time the company will boost its integrated European silica-silane production.
December 2016- Evonik Industries AG acquired the silica business of J.M.Huber, a U.S. based company for USD 630 Million. With this acquisition, the company will strengthen its growth segment resource efficiency. This acquisition will help company to expand its position in Asia and North America in this profitable and resilient business.
October 2016- PPG Industries announced to expand its precipitated silica manufacturing capacity at its Delfzijl, the Netherlands based plant. This expansion will add capacity of more than 15,000 tons per annum of advanced precipitated silica products. With this strategic move, the company will able to meet the growing demand for AGILON performance silica products, which includes fulfilling multiyear global supply agreements with key manufacturers.
October 2015- Evonik Industries AG expand its specialty silica production unit in Ako, Japan. Company will manufacture its SIPERNAT® and CARPLEX® lines of Specialty Silica at this manufacturing facility. The construction of this plant is expected to be finished by the end of 2017. This expansion will help company to offer exceptionally high quality silica that is utilized by numerous end use industries such as Food, Cosmetics, and Pharmaceutical.
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Competitive Landscape
The Specialty Silica Market Report Analyses the degree of competition among the major players as well as industry growth and market scenario. The Global Specialty Silica Market includes various players operating in the market which comprised of large scale and medium size producers. The important market players operating in the Global Specialty Silica Industry is focusing towards growth association specifically by Asia Pacific as medium scale and small scale producers are from this region specifically from China, South Korea, India, Indonesia, Thailand, Taiwan, Malaysia, and Japan. In addition, the key operating players are focusing on extending their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Some of the companies are expanding their production capacity of specialty silica to meet the increasing demand for specialty silica.
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