Based on the market research conducted by FMI, the global silica for S-SBR market is projected to record a CAGR of 7.3% from 2023 to 2033. In 2023, the market is expected to be valued US$ 861.8 million. By 2033, the valuation is estimated to hit $1.8 billion.
Manufacturers of footwear use silica for S-SBR to maintain the durability of the footwear. The usage of silica is believed to impart anti-skid qualities to the footwear. This could increase silica demand in the S-SBR business.
The automotive sector has expanded dramatically. The introduction of hybrid vehicles is projected to promote market growth. To prevent rust on spare components, the industry has been using silica for S-SBR. Silica is used in automotive tires to boost their durability. The green tire, which has enormous commercial potential, is primarily composed of silica. Manufacturers from a range of industries are looking for carbon black substitutes. Carbon black use causes lung disease as well as ear, throat, and nose irritation. Silica for S-SBR is a good solution because it is non-hazardous to the environment. During the forecasted term, this could improve silica sales for S-SBR.
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Silica is extremely important in the electrical industry. The ability of the product to operate as both a conductor and an insulator has contributed to its appeal.
Thus, the FMI analysts are of the view that ‘The surging footwear market, automobile market, eco-friendly nature, and lots of other factors are expected to surge the silica for S-SBR market growth during the forecast period.’
Key Takeaways:
- The market is expected to record a CAGR of 7.3% from 2023 to 2033.
- In 2023, the market value is projected to be US$ 861.8 million.
- By 2033, the valuation is anticipated to cross US$ 1.8 billion.
- On the basis of regional analysis, North America is expected to hold the leading market share.
- The United States market is anticipated to record a CAGR of 6.1%.
- Germany market is expected to record a CAGR of 5.6%.
- China market is projected to register a CAGR of 9.2%.
- Japan market is anticipated to record a CAGR of 4.7%.
- South Korea market is expected to record a CAGR of 5.7%.
- On the basis of type, the untreated segment is expected to hold the leading market share and is anticipated to record a CAGR of 7.3%.
- On the basis of application, the tire reinforcement segment is projected to hold the dominant market share, and is expected to record a CAGR of 7.5%.
Competitive Landscape
Manufacturers are looking to make huge investments in research and development. This might result in the production of better-quality products. The focus is also on sustainable development and making use of eco-friendly products. The emphasis is on entering into profitable mergers and acquisitions. This may allow the key players to surge their market share. The manufacturers are also emphasizing entering into related niches through organic growth. During such times, the key players are thoroughly analyzing the related sectors and making the required move.
Significant Developments in the Silica for S-SBR Market:
- In February 2023, Trinseo was named one of America’s most responsible firms by Newsweek.
- In January 2023, LANXESS and TotalEnergies agreed to collaborate on sustainable styrene.
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Top Key Player in the Global Market
- Trinseo
- LANXESS
- Evonik Industries
Key Segmentation
By Product Type:
- Treated
- Untreated
By Application:
- Tire Reinforcement
- Footwear Sole
- Polymer Modification
- Adhesives and Sealants
- Others
By End Use Industry:
- Automotive
- Construction
- Footwear
- Other Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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