Specialty Silica Market Size, Share & Trends Report

Specialty Silica Market Size, Share & Trends Analysis Report By Product (Precipitated, Silica Gel, Colloidal, Fumed), By Application (Rubber, Paints & Coatings, Food), And Segment Forecasts, 2019 - 2025

  • Published Date: Mar, 2019
  • Base Year for Estimate: 2018
  • Report ID: 978-1-68038-794-0
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 129

Industry Insights

The global specialty silica market size was valued at USD 5.61 billion in 2018 and is expected to expand at a CAGR of 9.4% over the forecast period. Rising demand from rubber and coatings industry is the major factor driving the growth. Rubber products, especially automotive tires, is the most significant application of the product. Therefore, the dynamics of automotive market play a key role in driving the demand for silica.

Rising disposable income, especially in the emerging economies of Asia Pacific, drives the dynamics of automotive industry in the region. According to International Organization of Motor Vehicle Manufacturers (OICA), Asia Pacific is the largest producer of vehicles in the world with estimated production of 53.5 million units in 2017. This makes Asia Pacific a lucrative market for specialty silica.

China specialty silica market

When combined with tire rubbers, specialty silica reduces the rolling resistance of tires while simultaneously enhancing the grip. Therefore, utilization of the product in tires can decrease the fuel consumption in a vehicle by 7%. Such tires are called green tires. The share of green tires in the overall tire industry was 15.0% in 2011 and reached 45.0% in 2018.

Increasing application of the product in various industries is projcted to further drive the market over the forecast period. For instance, it is used as an antiblocking agent for manufacturing thermoplastic films. It is also used as a matting agent in paints and varnishes. Moreover, it acts as an anticaking agent and as a carrier for vitamin in food and health products. It is also employed as a drying agent in protecting a wide variety of products during shipment and storage.

Product Insights

Precipitated silica led the specialty silica market with a share of 35.7% in 2018. The amount of the product consumed in green tires is double the amount used in standard tires. Recent trend indicates that manufacturers are focusing on increasing green tire production owing to increasing pressure on vehicle makers to meet rising fuel-economy targets and to reduce vehicle emissions. For instance, in October 2018, Evonik Industries invested about USD 120 million and started a precipitated silica plant for the tire industry in South Carolina, U.S.

Fumed silica is estimated to register a significant CAGR of 10.4% over the forecast period. The demand is primarily driven by the paints and coatings, adhesives and sealants, and desiccant applications. It is used in these applications as a thickening agent, and as a rheology modifier. The expansion of construction sector especially in U.S., China, and India is anticipated to propel the demand for adhesives, coatings, and paints. This provides a suitable platform for the growth of this segment.

Silica gel have a very strong affinity towards water and their adsorption ability is superior to other substances. They also act as superior adsorbents for gasoline-range hydrocarbons, carbon dioxide, sulfur compounds, nitrogen compounds, aromatics, and many others. Therefore, it is extensively utilized in various industries for applications where a high capacity desiccant or selective adsorbent is required. Increasing utilization as a thickening agent and cleaning ingredient in oral care industry is also anticipated to drive the demand.

Application Insights

Rubber held the largest market share of 29.2% in terms of revenue in 2018. The global rubber industry has witnessed high growth over the past decade and the trend is expected to continue over the forecast period owing to the increasing level of consumer satisfaction in terms of the improved gas mileage. Rubber application for non-tire segment is projected to rise at a moderate pace in near future. Non tire applications include silicone rubber, footwear soles, and industrial rubber. These applications are expected to further drive the segment over the forecast period.

Paints and coatings is anticipated to be the fastest growing application with a CAGR of 11.2 % over the forecast period. Fumed silica in primarily used in coatings as thixotroping and an antisetlling agent to prevent rust and corrosion. Widespread urbanization, massive infrastructure developments, and rising population coupled with increasing disposable income are the significant factors driving growth of coatings industry. This is forecasted to benefit the product demand in coatings application.

Global specialty silica market

Agrochemicals acquired the second highest revenue share in 2018 owing to the need for efficient agro-processing techniques. Specialty silica helps improve the quality, performance, and manufacturing process of liquid and solid formulations of agrochemical products. It is utilized to deliver visco-elastic properties to the liquid formulation. It is used as an anti-settling additive and a rheology modifier to prevent the agglomeration of active ingredients, thereby avoiding sedimentation. In solid formulations, it is utilized as flow aid, anti-caking aid, and milling aid.

The utilization in food industry is driven by the increased industrial production of powdered food ingredients which include seasonings, fruit powders, table salts, and flavored powders. Specialty silica is used to reduce caking tendency, improve powder flow ability, enhance stability during storage, and increase the productivity of the powdered products used in food and pharmaceutical sector. Fast paced lifestyles has led to sharp increase in the demand for packaged food, which is estimated to positively influence the demand for specialty silica from food industry owing to its preservation abilities.

Regional Insights

Asia pacific held the dominant market share of 40.0% in terms of revenue in 2018. Furthermore, it is estimated to be the fastest growing regional market over the forecast period. China, Japan, and India are the key countries driving the regional growth. Rubber application led the Asia Pacific market owing to rising demand from tire manufacturers. Aggressive expansion from tire manufacturers, is predicted to positively affect the regional growth.

North America was the second largest contributor with a market share of 23.8% in 2018. Growing demand for vehicles is expected to propel the production of tires, which, in turn, is likely to propel the product demand in the region. For instance, according to the data published in the Modern Tire Dealer magazine in 2018, the yearly tire capacity in North America was estimated at 334.8 million units, as of Jan 1, 2018, registering an increase of 4.9%, as compared to the earlier year.

The European regulations regarding the lowering of Volatile Organic Compounds (VOC) emissions in paints and coatings industry are expected to propel the demand for eco-friendly specialty silica over the forecast period. Paints and coatings industry is set to witness moderate growth owing to the growth in construction output of the region. Besides, the massive automotive industry of Germany is a significant growth driver for the market in Europe.

Central and South America is anticipated to witness high growth over the forecast period. The growing automobile industry particularly in Argentina, Chile, and Brazil, is predicted to have a positive impact on the growth in the forthcoming years while increasing recovery of construction sector is expected to boost demand for coatings and thereby influence the regional product demand.

Specialty Silica Market Share Insights

Key players include Evonik Industries, Cabot Corporation, PPG Industries Incorporated, Solvay SA, Imerys SA, AkzoNobel NV, and Ecolab Incorporated. These players have large manufacturing capacities and are currently focused on expanding their production plants in different regions to cater to the increasing demand.

Evonik Industries is the global leader followed by Solvay, PPG industries, and Cabot Corporation. Evonik has undertaken numerous strategic expansion initiatives to leverage the product demand, especially from tire manufacturers. For instance, in September 2018, the company announced that it is planning to expand capacities for the production of hydrophobic fumed silica in Rheinfelden, Germany with the objective of expanding its silica business for specialty applications.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Germany, U.K., China, India, and Brazil

Report coverage      

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2013 to 2025. For the purpose of this study, Grand View Research has segmented the global specialty silica market report on the basis of product, application, and region:

  • Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Precipitated silica

    • Silica gel

    • Fused silica

    • Colloidal silica

    • Fumed silica

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Rubber

    • Agrochemicals

    • Oral care

    • Food

    • Dessicants

    • Paints & coatings

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

Key questions answered by the report
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