Specialty Silica Market Forecast: Projected Growth And Opportunities In The Coming Years

 Specialty Silica Industry Overview

The global specialty silica market size was valued at USD 5.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.1% from 2022 to 2030. The growth of the market for specialty silica is attributed to the rising demand for rubber and paints and coatings across different industries such as construction and electric vehicles. A significant rise in the production of Electric Vehicles (EVs) is expected to provide a lucrative opportunity for the tire market, which is anticipated to positively influence specialty silica demand. In 2021, the global EV sales reached 6.6 million, which was more than double as compared in 2020.

The U.S. holds the largest share of the market for specialty silica in North America. The U.S. automotive industry has shown significant growth in the EVs segment. This has led to the rising demand for advanced and high-efficient rubber tires. Growing production of these vehicles in the country is expected to have a positive influence on specialty silica demand from the U.S. tire industry. For instance, in May 2021, Lion Electric announced that they are going to construct the largest medium and heavy-duty EV plant in the country. The company is expected to invest USD 70 million over a period of three years. The plant is anticipated to have a production capacity of 20,000 all-electric buses and trucks.

Gather more insights about the market drivers, restrains and growth of the Global Specialty Silica market

 

Furthermore, the U.S. government is focused to provide affordable homes to its residents, which is expected to propel the demand for paints and coating. For instance, in September 2021, the House Democrats passed the Build Back Better Act, which is expected to allocate a financial aid of USD 170 billion for affordable housing. The government is targeting to preserve or build over one million affordable homes. Increasing product demand from various application industries such as packaging, rubber, and paints and coating is expected to propel market growth over the coming years. For instance, in November 2021, Nouryon announced that they are planning to expand the capacity of their Levasil colloidal silica manufacturing plant in the U.S. The expansion is aimed to meet the increasing demand from the packaging and construction industry.


Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

  • Microencapsulation Market - The global microencapsulation market size is estimated at USD 11,896.2 million in 2022 and is anticipated to expand at a compounded annual growth rate (CAGR) of 10.3 % from 2023 to 2030. Increasing interest in microencapsulation technology for adequate protection of active drugs such as cisplatin, lidocaine, naltrexone, progesterone, insulin, proteins, peptides, and vaccines is expected to drive market growth.

 

  • Powder Fire Suppression Systems Market - The global powder fire suppression systems market size was estimated at USD 4.37 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 4.4% from 2023 to 2030. The rising importance of fire safety products and growing emphasis by the government and regulatory agencies to improve fire safety standards will drive the industry.

 

Specialty Silica Market Segmentation 

Grand View Research has segmented the global specialty silica market on the basis of product, application, and region:

Specialty Silica Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)

  • Precipitated silica
  • Fumed Silica
  • Fused Silica
  • Silica Gel
  • Colloidal Silica

Specialty Silica Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)

  • Rubber
  • Agrochemical
  • Oral Care
  • Food Industry
  • Desiccants
  • Paints & Coating
  • Others

Specialty Silica Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa


Key Companies profiled:

Some of the prominent players in the specialty silica market include:

  • Elkem
  • Evonik Industries AG
  • Madhu Silica Pvt. Ltd.
  • Nouryon
  • PPG Industries, Inc.
  • PQ Corporation
  • Sinosi Group Corporation
  • Tosoh Corporation
  • Wacker Chemie AG

 

Order a free sample PDF of the Specialty Silica Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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