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Precipitated Silica Market Size
Precipitated Silica Market is estimated to expand at substantial CAGR between 2024 and 2032, driven by the increasing product demand in food, agrochemicals, oral care, and other areas. The need to boost agricultural yield to meet the global food demand is augmenting the consumption of agrochemicals globally. Meanwhile, the consumption of processed foods is increasing owing to lifestyle changes of consumers. The aforementioned factors along with the increasing consumer awareness of oral hygiene will foster the market outlook.
According to CEIC report, the U.S. motor vehicle production reached 10,060,339.000 units in December 2022. This reflects upon the rising usage of precipitated silica in the automotive sector in the region. The growing application across the rubber, plastic, paints & coatings, and other sectors is also expected to present many growth opportunities for precipitated silica market. The automotive and construction sectors are among the major end-users of plastics, rubber, and different types of paints and coatings. Consequently, the expansion of these sectors, particularly in emerging Asia Pacific countries, will immensely benefit the market growth. However, the surging raw material prices and the disruptions in the supply chain caused by the rising inflation rate worldwide may impede the market growth to a certain extent.
Precipitated Silica Market Trends
The growing demand for eco-friendly and sustainable materials across various industries is promoting the adoption of precipitated silica due to its low environmental impact and renewable sourcing. The rising advancements in tire manufacturing processes and the focus of the automotive sector on fuel efficiency are driving the demand for high-performance silica-based compounds to improve tire traction and reduce rolling resistance.
Additionally, the rising popularity of green tires, which utilize silica to replace carbon black for enhanced fuel efficiency and reduced emissions, will fuel the market growth. The expanding applications of precipitated silica in industries, such as personal care, agriculture, and food and beverages due to its multifunctional properties are contributing to high product demand.
Precipitated Silica Market Analysis
The food sector application segment is projected to witness significant growth rate from 2024 to 2032, owing to the rising use of precipitated silica in food processing as an anticaking agent in edible salts and powdered food products given its high absorption capacity and purity. Due to the changing lifestyles of consumers, the growth in urbanization, and demographic changes, the consumption of processed foods has increased significantly over the years. The demand for anticaking and thickening agents in food processing will further boost the product demand.
Precipitated silica market from the automotive end-user segment is estimated to rise at notable pace from 2024 to 2032, due to the stringent regulations regarding fuel efficiency and emissions. The influx of these regulations is prompting automakers to adopt lightweight materials, such as silica-based compounds to improve tire performance. Moreover, advancements in tire technology and the increasing demand for high-performance tires are leading to enhanced traction, reduced rolling resistance, and improved overall tire performance. Additionally, the growing shift towards electric vehicles will also boost the demand for silica-based compounds to optimize tire efficiency.
Asia Pacific precipitated silica market is projected to expand from 2024 to 2032. The rapid industrialization and urbanization in China and India is increasing the demand for precipitated silica across various industries, including automotive, rubber, and personal care. The expanding construction industry is driving the demand for precipitated silica in applications, such as cement and concrete additives. Additionally, favorable government policies are promoting infrastructure development and manufacturing activities in the region. The growing awareness about the benefits of precipitated silica, such as its use as a reinforcing filler and rheology modifier, is further increasing the product appeal.
Precipitated Silica Market Share
Leading players in the precipitated silica industry are adopting inorganic business strategies, such as acquisitions, mergers, collaborations, establishing new production plants and increasing R&D investments to come up with new products in the market.
Some of the major precipitated silica companies are:
- Solvay SA
- PQ Corporation
- W.R. Grace & Co.
- Evonik Industries
- PPG Industries
- Huber Engineered Materials
- Madhu Silica Pvt. Ltd.
- Tosoh Silica Corporation
Precipitated Silica Industry News:
- In February 2024, Evonik announced plans to expand its precipitated silica plant in Charleston, South Carolina, investing a "mid-double-digit million-euro amount" in a new line. The construction is set to commence in mid-2024, with operations starting in early 2026.