India Precipitated Silica Market Size Worth $77.2 Million By 2025

India Precipitated Silica Market Growth & Trends

The India precipitated silica market size is expected to reach USD 77.2 million by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.5% during the forecast period. The market is likely to witness substantial growth over the forecast period, owing to its extensive use in rubber, oral care, and packaging applications.

Sodium silicate plant technology and rice husk technology are key technologies used for product manufacturing. Manufacturing of precipitated silica through rice husk ash, obtained from rice husk based power plants, is an upcoming production process, which is poised to significantly lower the manufacturing cost.

The market is projected to witness notable threat of substitution due to increasing use of carbon black, which shows similar rolling resistance, thereby increasing its treadwear rating. Furthermore, manufacturing of carbon black leads to lower material and processing cost compared to precipitated silica, which is anticipated to adversely affect the growth of the market.

The market is estimated to witness high rivalry due to presence of large number of manufacturers. Major companies are focusing on product development as well as capacity expansions, thereby increasing the competition. Surging demand for bio-based raw materials is expected to open new avenues for players, thereby intensifying the competition.

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India Precipitated Silica Market Report Highlights

• Rubber accounted for more than 55.0% of the overall market in 2017, owing to high demand for precipitated silica from automotive tire aftermarket

• Agrochemicals were the most promising application segment. The growth of the segment can be attributed to extensive product use in the production of agrochemicals to improve their suspension behavior

• Spiraling product demand in the footwear industry to provide translucent soling, better flex resistance, and enhanced abrasion resistance is likely to work in favor of the market

• Reduction in soda ash production in the U.S. is resulting in an increased raw materials sourcing, which is further leading to surge in the price of precipitated silica in India

• Market players compete with each other on the basis of product availability, ability to provide custom grade products, and product prices, with many of them following cost leadership strategy.

India Precipitated Silica Market Segmentation

Grand View Research has segmented the India precipitated silica market on the basis of application:

India Precipitated Silica Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• Rubber

• Agrochemicals

• Oral Care

• Food Industry

• Others