SAN FRANCISCO, May 10, 2018
SAN FRANCISCO, May 10, 2018 /PRNewswire/ --
The global specialty silica market is projected to reach USD 4.43 billion by 2022, according to a new report by Grand View Research, Inc. The market is expected to be driven by the growth of the automotive and paints & coatings industry, coupled with the growing application of precipitated silica in the food industry.
Growing product demand in various applications including rubber, food & healthcare, coatings, and plastics & abrasives is expected to augment product demand over the forecast period. The demand for higher performance and specialized products is increasing in rubber and a few other industries. Precipitated silica has emerged as a performance additive that imparts increased wear resistance and wet grip capabilities to automotive and industrial tires. Furthermore, growth in the automotive industry particularly in India and China is expected to propel product demand over the next few years.
Growing personal care sector in countries such as the U.S., India, China, UAE, Kuwait, South Africa, Brazil, Germany, and Mexico is expected to augment industry growth. Rising disposable incomes, coupled with increasing penetration of market players such as P&G and Reckitt Benckiser through new product launches in China and India, is expected to promote cosmetics industry growth. Introduction of new product formats, gender-specific products, and technological developments is expected to drive demand for perfumes, thereby fueling specialty silica consumption over the forecast period.
The coating applications segment is expected to gain significant market share over the forecast period. The coatings industry mainly uses fumed silica in order to control rheological characteristics, such as thixotroping agents, anti-settling agent and to help in the prevention of rust and corrosion. Fumed silica has a large surface area and thus is desirable in the coatings industry. Due to this property exhibited by fumed silica, the paints & coatings industry is one of the major consumers of the product.
Asia Pacific held the largest market share in terms of revenue in 2015. The market in China and India is expected to show substantial growth in the automotive and construction sectors as a result of the increasing disposable incomes and rising government spending on infrastructure development projects.
Browse full research report with TOC on "Specialty Silica Market Size, Share & Trend Analysis Report By Product (Precipitated Silica, Silica Gel, Fused Silica), By Application (Rubber, Food & Healthcare, Coatings), And Segment Forecasts, 2012 - 2022" at: https://www.grandviewresearch.com/industry-analysis/specialty-silica-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the specialty silica market report on the basis of product, application, and region.
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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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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