Global Specialised Silica Market was valued US$ 5.8 Bn in 2017, and is expected to reach US$ 8.4 Bn by 2024, at CAGR of 6.37% during forecast period. Global Specialised silica market isâ€¦..
Specialty silica consists of Silicon dioxide, which is a natural compound made of most abundant materials and having various living organisms: silica and oxygen.
In the past few yearsâ€™ specialty silica market is growing rapidly in the rubber industry and one of the major target market for rubber industry is automotive. Other than tiers, conveyor belts, railway pads, shoe soles are some of the key applications of the rubber in transportation industry.
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Growing food industry is driving the specialty silica market since it is used to preventing of caking, reduce dusting, remove the lumps, and for better absorption of liquids.
It also used for the production of medicated and transparent toothpastes as it acts as a whitening, cleaning and polishing agent.
However, the global specialty silica market is being restrained by factors including high product cost coupled with the availability of cheaper substitutes, and the very low growth rate in demand from the paper industry.
Increasing use of the product in the coatings and refectories & abrasives industries is expected to fuel its growth over the next few years.
Increasing applicability of specialty silica in the various industry, the specialty silica market is expected to grow in coming years. Growing number of automotive, construction and industrial sector in the emerging economies is further expected to boost the market.
Asia Pacific is leading the market. Countries in Asia Pacific include Japan, China, South Korea, and India. Moreover, Asia Pacific and North America both are projected to expand the market for the specialty silica players that will increase the revenue generation for the specialty silica market
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Scope of Global Specialised Silica Market:
Global Specialised Silica Market, By Type
Global specialised silica market, by application
Food & healthcare
Abrasives & refractories
Electronics and electrical
Global specialised silica market, by region
Middle East & Africa
Key Players analysed in Global specialised silica market:
Pearls Alloys Pvt. Ltd.
Fuji Silysia Chemical
Tosoh Silica Corporation
Gujarat Multi Gas Base Chemicals (GMGBC)
Qingdao Haiyang Chemical