The global specialty silica market is expected to reach USD 4.43
billion by 2022, according to a new report by Grand View Research, Inc. Rising
application scope of the product in various end-use industries including rubber
and coatings is expected to fuel demand over the forecast period.
Increasing coating demand in
Asia Pacific on account of growing construction and rising government
expenditure on infrastructure development in emerging economies of India and
China is expected to propel product need over the next seven years.
Automotive industry growth in
numerous countries is expected to fuel tire demand which in turn is expected to
have a positive impact on the product market over the forecast period. In
addition, increasing use of the product in green tire manufacturing on account
of various advantages such as increased shelf life and fuel efficiency will
propel the industry growth over the next seven years. However, mature nature of
various end-use industries primarily in Europe and North America may challenge
specialty silica industry growth.
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This Report @ http://www.grandviewresearch.com/industry-analysis/specialty-silica-market
Further key findings
from the report suggest:
·
Precipitated
silica was the largest product segment estimated over 2,000 kilo tons in 2014.
It is widely employed as a performance additive as it increases wet-grip
capabilities and wear resistance in automotive and industrial tires.
Silica-filled tires are widely used owing to low rolling resistance which
results in better handling and improved mileage. This is expected to fuel
overall product demand over the forecast period.
·
Rubber
application segment was estimated over USD 1,000.0 million in 2014. Rising
rubber need on account of increased automobile production particularly in India
and China is expected to have a positive impact on the industry over the
forecast period.
·
Europe specialty
silica market was estimated over USD 300.0 million in 2014. Robust automotive
manufacturing base in the Germany is expected to be a favorable factor for
rising demand. In addition, growth in the food & healthcare sector in
various countries including France, UK, and Germany on account of changing
lifestyle of consumers coupled with increased government spending on public
health is expected to propel product need over the next seven years.
·
The global
specialty silica industry is highly competitive with key multinationals
dominating the sector. Increased R&D expenditure for new product
developments coupled with the need to reduce production cost are key trends
witnessed within the industry. In January 2016, PPG Industries announced plans for
setting up new production site for precipitated silica in North America. As of
July 2015, Solvay introduced highly dispersible silica (HDS) which enhances the
performance of tires by cost-effective energy saving.
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About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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