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The specialty silica market is estimated to grow at a CAGR of 7.3% between 2022 and 2027. The size of the market is forecast to increase by USD 4,369.04 million. The growth of the market depends on several factors, including growing applications of precipitated silica in the food industry, growing use of silica aerogel in the construction industry, and growing demand from the personal care industry.
This report extensively covers market segmentation by application (rubber, personal care, food feed and agriculture, inks paints and coatings, and others), type (precipitated silica, fumed silica, colloidal silica, silica gel, and fused silica), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the global specialty silica market as a part of the global specialty chemicals market. The global specialty chemicals market covers products and companies engaged in high-value-added chemicals used in the manufacturing of a wide variety of products, including, but not limited to, fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The growing demand from the personal care industry is notably driving the market growth, although factors such as low-quality and low-priced product offerings may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Specialty Silica Market Driver
The growing demand from the personal care industry is notably driving market growth. Owing to its excellent spreading property, glossiness, and improved texture there is a rise in the silica gel demand in personal care products. The low viscosity changes in silica gel for a wide temperature range make it suitable for use in personal care products. The solubility of specialty silica in most anhydrous alcohols and solvents used in personal care products is expected to augment the growth of the global market during the forecast period.
Specialty silica is commonly used in the formulation of skincare and hair care products, such as shampoos, deodorants, cleansing creams, antiperspirants, lotions, and bath oils. The demographic factors and growing beauty consciousness among individuals will contribute to the growth of the market for personal care products. Furthermore, an increase in demand for skin care products in the personal care industry is driving the use of specialty silica. In 2021, the skin care segment accounted for more than a quarter of the sales in the global specialty silica market. Such developments are expected to drive the growth of the global market during the forecast period.
Significant Specialty Silica Market Trend
The development of environment-friendly silica gel products is an emerging trend in the market. The increased emphasis on R&D to develop environment-friendly silica gel products, owing to increasing global awareness about environment protection, has resulted in the recent introduction of safer silica gel products in the market.
One of the developments has been the introduction of Eco Blue Silica Gel by Nantong OhE Chemicals. This product does not contain cobalt dichloride or cobalt chloride, the main environmental pollutants usually found in allochroic silica gel products, while it still has the same level of efficiency. With other manufacturers developing and introducing newer products with lower percentages of these chemicals, the development of environment-friendly silica gel products will positively impact the global market during the forecast period.
Major Specialty Silica Market Challenge
Low-quality and low-priced product offerings are major challenges impeding market growth. Several regional and global vendors operate in the global specialty silica market, and small regional and local vendors generally find it difficult to maintain the quality of their products. Different grades of specialty silica products are required for different applications. Production of a specific grade of silica is complex and requires technical knowledge and advancements, and as most regional vendors do not have access to such know-how, sometimes they provide low-quality and low-cost silica products compared to the product offerings of global vendors. This directly affects the sales of international players and reduces their profit margins.
Low-quality precipitated silica decreases the end-product quality and hampers the end-user industries. Furthermore, new entrants could be a greater challenge in the long term for the market. As a result, international players need to concentrate on improving their products in terms of quality and services offered to attract customers and maintain brand loyalty. Therefore, these factors will hamper the growth of the market during the forecast period.
Key Specialty Silica Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Specialty Silica Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Antenchem - The company operates under one segment. The company under this segment offers synthetic sodium silicate, specialized zeolite powder, and other performance materials for the chemical, petroleum, catalysts, and adsorbents markets. The key offerings of the company include specialty silica products.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the rubber segment will be significant during the forecast period. Silica is commonly used in various rubber products like tires, industrial rubber, silicone rubber, and footwear.
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The rubber segment was valued at USD 2,795.02 million in 2017 and continued to grow until 2021. There are various reasons behind the use of silica in rubber products. For example, precipitated silica is used as reinforcing fillers in the manufacture of tires. Silica is used in tires because it improves fuel efficiency, provides superior tear and tensile strength, improves cut and chip behavior, imparts resistance to abrasion, possesses anti-skid and better dynamic properties, and reduces heat build-up. Therefore, increasing demand for rubber from tire manufacturers of passenger cars, motorcycles, trucks, and heavy-duty equipment is expected to propel this market during the forecast period. Additionally, the high demand for silica gel from the expanding electronics industry, mainly to absorb moisture from electronic products, will also have a positive impact on the growth of this market.
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APAC is estimated to contribute 51% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The leading countries, both in terms of production and consumption of specialty silica in APAC, include India, China, Japan, and Australia. The increasing demand for rubber products, primarily led by the high demand for tires from the growing automotive industry, is expected to drive this market during the forecast period. Furthermore, the wide usage of specialty silica in personal care products; food, feed, and agricultural products; and ink, paints, and coatings will also have a positive impact on the growth of the specialty silica market in the region during the forecast period.
The COVID-19 outbreak in 2020 severely affected the demand for specialty silica. However, the market witnessed positive growth in the agriculture sector in countries such as India in 2020. Due to the increased demand for food production and increasing awareness among farmers regarding the benefits of silica in increasing agricultural productivity, there was an upsurge in demand for specialty silica in India. Moreover, with the lifting of lockdowns due to the initiation of vaccination drives and the resumption of operations in end-user industries the demand for silica in these industries significantly increased, which led to an increase in production in 2021. Therefore, such factors are anticipated to drive the growth of the market in APAC during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Application (Rubber, Personal care, Food feed and agriculture, Inks paints and coatings, and Others), Type (Precipitated silica, Fumed silica, Colloidal silica, Silica gel, and Fused silica), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).
Specialty Silica Market Scope |
|
Report Coverage |
Details |
Page number |
180 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.3% |
Market growth 2023-2027 |
USD 4,369.04 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.1 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 51% |
Key countries |
US, China, India, Germany, and Brazil |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Antenchem, Cabot Corp., Denka Co. Ltd., Ecolab Inc., Elkem ASA, Evonik Industries AG, Fuji Silysia Chemical Ltd., Fuso Chemical Co. Ltd., Glassven C.A., Gujarat Multi Gas Base Chemicals Pvt. Ltd., Madhu Silica Pvt. Ltd., Nouryon Chemicals Holding BV, Oriental Silicas Corp., PPG Industries Inc., PQ Group Holdings Inc., Sinosi Group Corp., Solvay SA, Tosoh Silica Corp., W. R. Grace and Co., and Wacker Chemie AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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