The global specialty silica market is poised for robust growth, with a projected Compound Annual Growth Rate (CAGR) of approximately 4.8% within the forecast period of 2021 to 2031. This growth trajectory is underpinned by the increasing demand for specialty silica across diverse industries. Specialty silica encompasses several distinct types, including precipitated, fumed, fused, silica gel, and colloidal varieties.
The demand for speciality silica from diverse sectors has steadily increased in recent years. This trend is expected to continue in the next years, owing to the rapid expansion of end-use industries, particularly in the rubber and plastics sectors. As these industries continue to thrive, demand for speciality silica is projected to stay robust, boosting the market’s expansion even further.
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Because of the increase in packaging, print, and speciality coatings demand, specialty silica consumption has surged. In addition, demand from the inks and coatings industry will support growth in the future years. Plastics, food & drinks, electrical & electronics components & insulation, personal care product additive, agricultural & feed, consumer items, and others are some of the significant end uses of speciality silica.
Key Takeaways of Specialty Silica Market Study
- The global specialty silica market is anticipated to expand at a CAGR of ~4.8% by during the forecast period of 2021-2031
- The U.S. is expected to account for nearly 80% sales in the North America market
- Growth in U.K. is expected to recover 2021 onwards. FMI projects it to exhibit 4.7% Y-o-Y growth in 2021, after going downhill in 2020
- Growth trends are expected to remain favorable in Germany and France too
- Within East Asia China will emerge as a key market, exhibiting high growth. CAGR exhibited by Japan and South Korea as well is expected to remain positive through the forecast period
“Demand from rubber industry will continue to fuelling the demand for specialty silica. Though the significant drop in automotive industry output production rate during the last two consecutive fiscals have impacted the consumption of tires; however, the market growth is expected to gain traction in upcoming years. Additionally product innovation involved in specialty coatings will spur the demand of specialty silica.” says a FMI analyst.
Demand for specialty silica is expected to grow at moderate rate owing to its increasing consumption in rubber application. Personal care is anticipated to witness highest growth amongst all other applications. East Asia is projected to hold prominent share followed by Europe and North America. China and Japan are the major target locations for supply of Specialty Silica for manufacturers. Specialty Silica market is fairly consolidated with small number of tier-1 players accounting for the major share.
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Top Key Players in the Global Maret
- Solvay SA
- Huber Engineered Materials
- Madhu Silica Pvt. Ltd.
- Evonik Industries AG
- PPG Industries, Inc.
- Akzo Nobel NV
- Cabot Corporation
- Wacker Chemie AG
- Nalco Holding Company
- Qingdao Makall Group Inc.
Key Segmentation
By Product Type
- Precipitated
- Fumed
- Fused
- Silica Gel
- Colloidal
By Application
- Rubber
- Plastic
- Ink & Coatings
- Electrical & Electronics
- Agricultural & Feed
- Food & Beverages
- Personal Care
- Others
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
About the Chemical & Material Division at Future Market Insights
The chemical & material team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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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