North America Specialty Silica Market Size & Outlook
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North America specialty silica market highlights
- The North America specialty silica market generated a revenue of USD 1,457.9 million in 2019.
- The market is expected to grow at a CAGR of 6.1% 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, U.S. is expected to register the highest CAGR from 2020 to 2027.
North America data book summary
| Market revenue in 2019 | USD 1,457.9 million |
| Market revenue in 2027 | USD 2,339.5 million |
| Growth rate | 6.1% (CAGR from 2019 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, North America region accounted for 23.7% 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 33.66% in 2019. Horizon Databook has segmented the North America 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.
North America was the second largest market in 2019 of the global specialty silica market. Factors such as growing automotive industry, a significant rise in the number of R&D projects, and rapid technological developments are expected to boost the demand for specialty silica in the region.
According to the U.S. Tire Manufacturers Association, the demand for high-performance tires in the U.S. continues to rise past 10 years. The demand is attributable to the automotive aftermarket. Specialty silica offers high efficiency and various advantages to the tires; therefore, the propelling tire industry is anticipated to have a positive influence on market growth.
Precipitated silica was the leading product and fastest growing segment in the region. Increased consumption of precipitated silica can be attributed to the rising demand from paints & coatings and tire industries. The growth is also attributable to the increased product demand from refractory industry, especially for fused silica.
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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 |
North America specialty silica market size, by country, 2016-2027 (US$M)
North America Specialty Silica Market Outlook Share, 2019 & 2027 (US$M)
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