LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global specialty silica market is expected to grow at a CAGR of more than 6% during the forecast period.
This research report titled ‘Global Specialty Silica Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The automotive industry is witnessing increasing sales of passenger and commercial vehicles worldwide. This increase is creating a high demand for tires, which is anticipated to drive the specialty silica market through the forecast period. APAC creates the maximum demand for specialty silica, with many automotive vendors setting up their manufacturing bases in developing countries like China and India.
Other important drivers of this market are the growing applications of precipitated silica in the food industry and increasing demand for paints with functional benefits. These factors are expected to push the global silica gel market to a value of USD 4690.3 million by 2021, with more than 45% of the incremental growth originating from APAC.
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Based on application, the report categorizes the global specialty silica market into the following segments:
- Personal care
- Food, feed, and agriculture
- Ink, paints, and coatings
The top three revenue-generating application segments in the global specialty silica market are discussed below:
The rubber segment is the biggest application segment of specialty silica, occupying 38.63% of the global market. This segment is forecast to showcase a CAGR of over 7% through the forecast period, expected to be valued at 1,887.3 million by 2021. Silica is mainly used in this segment in the manufacture of various rubber products like tires, industrial rubber, silicone rubber, rice rollers, conveyor belts, battery separators, and footwear.
“The most important use of specialty silica is in tires, where it improves rolling resistance and traction. This greatly enhances the fuel economy of vehicles and makes for a smooth overall vehicle performance. Another segment that creates high demand for specialty silica is from the expanding electronics industry, where it is mainly to absorb moisture from electronic products. These two factors will have a positive impact on the growth of this market,” says Ajay Adikari, one of the lead analysts at Technavio for metals and minerals research.
Specialty silica finds several applications in the personal care industry in products like toothpaste, antiperspirants, and lipsticks. Specialty silica helps convert cosmetic oils to highly viscous and transparent gels and enhances cleaning and whitening performance in dentifrice products, which makes it useful in this industry. Specialty silica also finds utility in hair care products like hair bleaching agents, hair dyes, and hair conditioners, where they are used to prevent caking, enhance moistening capacity, and increase durability.
“Other utility segments include nail polishes, face and eye make-up products, face powder, mascara, eye shadows and pencils. The global personal care market is growing with consumers placing greater emphasis on personal grooming across regions, leading to increasing demand for skin, hair, and oral care products. This factor will, in turn, drive the market for specialty silica in the coming years,” says Ajay.
Food, feed, and agriculture
In 2016, the global specialty silica market in food, feed, and agriculture applications was valued at USD 552.3 million and is expected to reach USD 728.1 million by 2021, growing at a CAGR of 5.68%. Expanding population, need for natural and sustainable energy, and changing lifestyles are driving the market for food, feed, and agricultural products.
In the food industry, specialty silica in used in the prevention of caking, reduction in dusting, removal of lumps, and better absorption of liquids. In the animal feed segment, it finds utility because of its anti-caking and free-flow properties, which make it suitable for coating the powder surface for reduction of inter-particle interactions and absorbing moisture for the prevention of bridging between particles. In the agricultural sector, specialty silica is mainly used for the development of powder, solid, and liquid formulations as suspensions or emulsions for better crop protection, seed treatment, and plant growth. These factors create a high demand for specialty silica, which is driving the market growth.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Evonik Industries
- J.M. Huber
- PPG Industries
- W.R. Grace
Browse Related Reports:
- Global Forging Market 2017-2021
- Global Silica Gel Market 2015-2019
- Global Silica Minerals Mining Market 2016-2020
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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