Global Specialty Silica Market Size & Outlook, 2019-2027
Global specialty silica market, 2016-2027 (US$M)
Related Markets
Global specialty silica market highlights
- The global specialty silica market generated a revenue of USD 6,158.7 million in 2019 and is expected to reach USD 9,958.2 million by 2027.
- The market is expected to grow at a CAGR (2020 - 2027) of 6.2% by 2027.
- In terms of segment, precipitated silica accounted for a revenue of USD 2,204.5 million in 2019.
- Fused Silica is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2019.
- Country-wise, China is expected to register the highest CAGR from 2020 to 2027.
Global data book summary
| Market revenue in 2019 | USD 6,158.7 million |
| Market revenue in 2027 | USD 9,958.2 million |
| Growth rate | 6.2% (CAGR from 2020 to 2027) |
| Largest segment | Precipitated silica |
| Fastest growing segment | Fused Silica |
| Historical data covered | 2016 - 2018 |
| Base year for estimation | 2019 |
| Forecast period covered | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Precipitated Silica, Fumed Silica, Fused Silica, Silica Gel, Colloidal Silica |
Other key industry trends
- In terms of revenue, the North America accounted for 23.7% of the global specialty silica market in 2019.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2027.
- By country, China is the fastest growing regional market and is projected to reach USD 1,170.0 million by 2027.
Precipitated silica was the largest segment with a revenue share of 35.79% in 2019. Horizon Databook has segmented the Global specialty silica market based on precipitated silica, fumed silica, fused silica, silica gel, colloidal silica covering the revenue growth of each sub-segment from 2016 to 2027.
Precipitated silica is being increasingly utilized in rubber and tire industry owing to its beneficial physical properties such as abrasion resistance, tensile strength, and flex fatigue. This, in turn, is projected to boost the market growth.
Moreover, precipitated silica has profound use in rubber & tire applications, particularly in trucks and heavy equipment vehicles, as it is known to improve the adhesion and tear resistance between rubber tire and metallic reinforcements.
Demand for silica for fuel-efficient tires is expected to increase in line with a continued reduction in automotive fuel consumption as well as a shift towards vehicle electrification. A significant rise in the production of EVs is expected to provide a lucrative opportunity for specialty silica market.
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Specialty Silica Market Scope
Specialty Silica Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Tosoh Corp | View profile | 14266 | 3-8-2 Shiba, Minata-ku, Tokyo, Japan, 105-8623 | http://www.tosoh.com |
| Elkem ASA Ordinary Shares | View profile | 7436 | Drammensveien 169, Oslo, Norway, 0277 | https://www.elkem.com |
| PPG Industries Inc | View profile | 53000 | One PPG Place, Pittsburgh, PA, United States, 15272 | https://www.ppg.com |
| Nouryon | View profile | - | - | |
| Wacker Chemie AG | View profile | 16378 | Hanns-Seidel-Platz 4, Munich, BY, Germany, 81737 | https://www.wacker.com |
| Evonik Industries AG | View profile | 33409 | Rellinghauser Strasse 1-11, Essen, NW, Germany, 45128 | https://www.evonik.com |
Global specialty silica market size, by regions, 2016-2027 (US$M)
Top 10 countries: Specialty silica market size, 2019 (US$M)
Global specialty silica market share, by product, 2019 & 2027 (%, US$M)
Specialty silica market: Opportunity assessment by country
Global specialty silica market, by region, 2019 (US$M)
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