Fior Markets launched a study titled “Specialty Silica Market by Product (Precipitated Silica, Silica Gel, Fused Silica, Colloidal Silica, Others), Application, Regions”,and Global Forecast 2018-2025.
The global specialty silica market is expected to grow from USD 2.98 Billion in 2017 to USD 6.23 Billion by 2025, at a CAGR of 9.66% during the forecast period from 2018-2025. Extensive demand for the specialty silica for the rubber, food & healthcare, coatings, plastics and abrasives & refractories, agrochemicals defoamers, plastics, and adhesives & sealants applications are driving the global specialty silica market.
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Silica gel segment is anticipated to grow at a CAGR of 11.93% in 2018-2025
Product segment is divided into precipitated silica, silica gel, fused silica, colloidal silica and fumed silica. Due to its wide spread application in the tire, coatings and refectories & abrasives industries the precipitated silica led the global specialty silica market with USD 2.16 billion revenue in 2017. However the silica gel is expected to progress at an accelerated CAGR of 11.93% over the forecast period, on account of its wide ranging use in the compressed air systems, humidity control, syringes, drug test kits, food additives, water filtration, chromatography, and humidity indicators.
The rubber application segment had a market value of USD 1.08 billion in 2017
Application is segmented into rubber, plastics, coatings, food & healthcare, and abrasives & refractories and others. Increasing use of specialty silica as an eco-friendly alternative to the carbon black led the rubber application segment to dominate the global specialty silica market with USD 1.08 billion revenue in 2017. Food and healthcare segment also accounted for a robust market share in 2017, due to its application in the preserving the food product.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa.On account of burgeoning demand for the automobiles, paints and coatings as well as food and beverages products fuelled by the rise in the per capita disposable income, the Asia Pacific region emerged as the global leader in the demand for the specialty silica with USD 1.18 billion revenue in 2017. North America region also held a significant share of global specialty silicamarket in 2017, due to its well-developed tire and automobile industry.
Major players in the global specialty silica market are AkzoNobel N.V., Evonik Industries SE, Huber Corporation, Imerys SA, Ecolab Incorporated, Tosoh Corporation, Wacker Chemie AG, Oriental Silicas Corporation, Nissan Chemical Industries Limited, Kemira Oyj, Nippon Aerosil Co. Ltd, W.R. Grace & Co., Cabot Corporation, PPG Industries, Qindao Makall Group, Solvay S.A., Madhu Silica Private Limited, Nalco Holding Company, and among others.
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