Asia Pacific Specialty Silica Market Size & Outlook
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Asia Pacific specialty silica market highlights
- The Asia Pacific specialty silica market generated a revenue of USD 2,490.5 million in 2019.
- The market is expected to grow at a CAGR of 7% from 2020 to 2027.
- In terms of segment, precipitated silica was the largest revenue generating product in 2019.
- Fused Silica is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2020 to 2027.
Asia Pacific data book summary
| Market revenue in 2019 | USD 2,490.5 million |
| Market revenue in 2027 | USD 4,276.2 million |
| Growth rate | 7% (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 |
| Key market players worldwide | Elkem ASA Ordinary Shares, Evonik Industries AG, Nouryon, PPG Industries Inc, Tosoh Corp, Wacker Chemie AG |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 40.4% of the global specialty silica market in 2019.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2027.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 4,276.2 million by 2027.
Precipitated silica was the largest segment with a revenue share of 36.87% in 2019. Horizon Databook has segmented the Asia Pacific 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.
The growing automotive industry in the emerging economies of Asia Pacific and increased construction & infrastructure spending in the current fiscal budget by the Indian and Chinese governments are the key factors responsible for the high demand for specialty silica, which, in turn, is expected to drive the market over the forecast period.
China and India are expected to register substantial growth in automotive and construction sectors because of the increasing disposable income and rising government spending on large infrastructural projects. In addition, the growing automotive industry in Mongolia, Japan, Thailand, South Korea, and Indonesia is further expected to fuel market growth in Asia Pacific.
Rapidly growing automotive and construction sectors have called for the rising demand from the paints & coatings industry. Rising health concerns and growing awareness regarding the advantages of using specialty silica in the emerging economies of the region are expected to fuel its demand in the long run.
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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 |
Asia Pacific specialty silica market size, by country, 2016-2027 (US$M)
Asia Pacific Specialty Silica Market Outlook Share, 2019 & 2027 (US$M)
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