Specialty Silica Market is projected to surpass US$8,422.122 million by 2029 at a CAGR of 9.07%

The specialty silica market is anticipated to grow at a CAGR of 9.07% from US$4,587.108 million in 2022 to US$8,422.122 million by 2029.

NOIDA, UTTAR PARDESH, INDIA, June 12, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the specialty silica market is projected to grow at a CAGR of 9.07% between 2022 and 2029 to reach US$8,422.122 million by 2029.

Specialty silica is a versatile matter used in numerous industries and a variety of places. It comes as a refined substance for the manufacturing input substance. Silica gel, one of the forms of specialty silica, has properties such as being conveniently packed, water resistant, reused by heating, non-flammable, and eco-friendly. This property is applicable in the packaging industry, where it is needed for the packaging of leather, vitamins, and electrical products. Fumed Silica, another form of specialty silica, finds its application in paints & coating & printing inks, unsaturated polyester resins, liquid silicone rubber, and vacuum insulation panels, among others.

Due to the wider application of this specialty silica, the demand and production are substantial, which causes companies to engage in necessary developments. In January 2024, Evonik will expand production of precipitated silica in the USA by 50 percent, this expansion would help to meet the high demand for silica demand from the tire, oral care, and other industries. The company is also looking to invest in innovative and green solutions for sustainability. Additionally, in January 2023, Solvay launched bio-circular silica in Europe, with investment at its Livorno site, in Italy. The plant has the renewable energy integration to achieve a 50% reduction in CO2 per ton of silica.

Access sample report or view details: https://www.knowledge-sourcing.com/report/specialty-silica-market

The specialty silica market is segmented by product type into precipitated silica, fumed silica, silica gel, and others. Precipitated silica is used as an adhesive, it is used in PVC sheets, and for reinforcing silica, the multiple applications for this lead to the demand for the product. Fumed silica is used in fiber optic cables, adhesives, composite materials and coatings, home care products, plant protection, and more. Due to its application in fiber optic cables, it would have a notable CAGR in the coming years. Silica gel is commonly used in packaging, perfumes, and for removing moisture.

Based on end-user specialty silica market is divided into manufacturing, chemicals, personal care & cosmetics, and others. With the broader application of specialty silica in the manufacturing sector the demand from this segment would be robust.

The manufacturing of fiber optics, electric cars, plastics, etc. where the specialty silica is applied would grow in the coming years. With the increasing disposable income from the developing economies of Asia Pacific and Middle East and Africa, personal care & cosmetics products find their place in every household. Specialty silica is an important ingredient in these products providing texture and quality of the product. Based on application specialty silica market is divided into rubber goods, heat stability, anti-caking, and others.

Based on geography Europe would hold a significant position in the market owing to the demand for rubber, coatings, paints & inks, food & beverages, personal care, pharmaceuticals, and electronics industries. Europe's cosmetics and personal care industry is huge in terms of both size and volume. According to Cosmetics Europe, the market for personal care products was valued at €88 billion in retail sales in 2022. The highest among them is Germany with €14.3 billion, France second at €12.9 billion, Italy's €11.5 billion, and the UK at €10.5 billion. The huge application of specialty silica in cosmetics and personal care makes it the primary demand in the region.

Specialty silica is necessary for pharmaceuticals too, In Europe due to an aging population and rising chronic disease ailments, the demand for medicines is high. The daily dosage per 1,000 inhabitants per day for antidepressants in countries like Portugal is as high as 150.5, in Iceland 157.3, and 114.5 in Sweden, for 2022, showing high consumption of the prescribed drugs. Leading to the demand for specialty silica in the manufacturing of pharmaceuticals. The market for food and beverages plays an important role in the demand for specialty silica. Europe is a prime producer of processed food for the world.

As a part of the report, the major players operating in the specialty silica market, that have been covered are Evonik Resource Efficiency GmbH, BASF SE, Clariant, Speciality Silica Private Ltd, Akzo Nobel N.V., Cabot Corporation, Wacker Chemie AG., PPG Industries, Inc., Standard Industries Holdings Inc., and Ecolab.

The market analytics report segments the specialty silica market on the following basis:

• BY PRODUCT TYPE

o Precipitated Silica
o Fumed Silica
o Silica Gel
o Others

• BY APPLICATION

o Rubber Goods
o Heat Stability
o Anti Caking
o Others

• BY END-USER

o Manufacturing
o Chemicals
o Personal Care & Cosmetics
o Others

• BY GEOGRAPHY

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• France
• United Kingdom
• Italy
• Others

o Middle East and Africa

• Saudi Arabia
• Israel
• Others

o Asia Pacific

• China
• Japan
• India
• South Korea
• Indonesia
• Taiwan
• Thailand
• Others

Companies Profiled:

• Evonik Resource Efficiency GmbH
• BASF SE
• Clariant
• Speciality Silica Private Ltd.
• Akzo Nobel N.V.
• Cabot Corporation
• Wacker Chemie AG.
• PPG Industries, Inc.
• Standard Industries Holdings Inc.
• Ecolab

Explore More Reports:

• Aerogel Market: https://www.knowledge-sourcing.com/report/aerogel-market

• Smart Materials Market: https://www.knowledge-sourcing.com/report/smart-materials-market

• Global Fumed Silica Market: https://www.knowledge-sourcing.com/report/global-fumed-silica-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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