Specialty Silica Market

The global Specialty Silica Market is valued at USD 5.8 Billion in 2022 and is projected to reach a value of USD 9.6 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 7.5% between 2023 and 2030.

Premium Insights

The demand for Specialty Silica will likely increase due to a considerable increase in the manufacturing of Electric Vehicles (EVs), which is predicted to present a lucrative potential for the tire market. The number of EVs sold worldwide in 2022 was 6.6 million, more than twice as in 2020. The growing use of silica for coatings applications is driving manufacturers to offer novel silica, which is gaining popularity in the market and is anticipated to drive market expansion in the upcoming year. For instance, the Performance Materials Business Unit of DKSH, a distributor of ingredients and specialty chemicals, announced in March 2019 the expansion of the performance silica range from Evonik for use in coating and ink applications to Indonesia, Thailand, the Philippines, Singapore, Myanmar, and Cambodia. Companies are concentrating on superior product grades.

Key Highlights

• By Product, the high demand for the precipitated silica segment will increase in the Specialty Silica market from 2023 to 2030.
• By Application, the rubber segment dominated the largest market share globally from 2023 to 2030.
• In 2022, the Asia Pacific dominated the market with the highest revenue share of 42.6%.
• North America will grow at a high CAGR from 2023-2030.

Specialty Silica is also used in tires to provide green and energy-efficient tires as performance enhancers. For instance, Solvay is concentrating on providing new grades of highly dispersible silica (HDS) in the tire sector. On the other hand, Huber is extending its silica product line for use in the paper and dental care industries. The market for Specialty Silica will grow shortly due to rising tire and carbon emission requirements.

Economic Insights

Leading producers are concentrating on developing Specialty Silica using cutting-edge technology. For instance, Spherilex 145, a new specialty product for the dental care business, was recently introduced by Evonik Industries AG, one of the top producers of Specialty Silica. Over the projection period, it is anticipated that these developments by Specialty Silica market players will play a significant role in increasing demand for the material. With an annual turnover of over EUR 101 billion, Germany is Europe's leading plastics producer. Various polymers' processing, rheology, and general performance are all enhanced by applying Specialty Silica. Due to this, the Specialty Silica market in Germany will continue to expand throughout the approaching evaluation period. The United States government is committed to giving its citizens access to affordable housing, which is anticipated to increase demand for paints and coatings. For instance, the House Democrats passed the Build Back Better Act in September 2021, which is anticipated to allot USD 170 billion in financial aid for affordable housing. The Canadian government committed USD 10 billion to the entire housing plan over the following five years in April 2022.

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Top Market Trends

1. Technological Advancements Driving Market Growth: Advancements in tire technology, such as silica as a reinforcement material, are driving market growth. Additionally, the growing demand for high-performance paints and coatings with improved durability and weather resistance further boosts the market. Moreover, the increasing demand for personal care products, such as toothpaste and cosmetics, is fueling the Specialty Silica market. Technological advancements in production processes and the development of novel silica-based materials are expected to continue driving the market’s growth in the forecast period.
2. Growing demand for Specialty Silica in the Tires Industry to Augment Growth: Specialty Silica, due to its high reinforcing properties, is extensively used as a reinforcing filler in tires. It helps enhance tires' mechanical properties and durability, including abrasion resistance, puncture resistance, and grip on wet and dry surfaces. The growing automotive industry, particularly in emerging economies, further accelerates the demand for high-quality tires, fueling Specialty Silica’s market growth. Stringent regulations regarding fuel efficiency and carbon emissions have also contributed to the increased adoption of Specialty Silica in tires. Overall, the growing demand for Specialty Silica in the tire industry will continue driving market growth in the coming years.

Market Segmentation

The global Specialty Silica market can be categorized as Product, Application, and Region. Based on Product, the market can be categorized into Precipitated Silica, Fumed Silica, Fused Silica, Silica Gel, and Colloidal Silica. Furthermore, based on the segment Application, the market can be split between Rubber, Agrochemicals, Oral Care, Food Industry, Desiccants, Paints & Coatings, and Other Applications. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Product

Precipitated Silica to Accommodate Maximum Market Share Due to Its of Its Wide Range of Applications and Superior Properties

In 2022, precipitated silica dominated the market. Precipitated silica is a form of synthetic amorphous silica produced by the precipitation of a silicate solution. It is available in various forms like powder, granules, and beads. It is widely used in rubber, coatings, plastics, food and beverages, personal care, and pharmaceuticals. One of the major reasons for the dominance of precipitated silica in the market is its versatility. It exhibits excellent properties such as high purity, large surface area, controlled pore size distribution, and excellent dispersibility. These properties make it suitable for a wide range of applications.

Based on Application

Rubber to Express Dominion Owing to the Rising Popularity of Plant-based Diets

The rubber segment dominated the largest market share and will dominate in the forecast period. This is primarily due to the increasing demand for Specialty Silica in the production of rubber products across various industries, such as automotive, construction, and tire manufacturing. It also helps reduce rolling resistance and improve fuel efficiency in tires. As a result, the growing automotive industry and the increasing demand for high-performance tires drive the demand for Specialty Silica in the rubber segment. Furthermore, the construction industry is also witnessing significant growth, especially in emerging economies, further boosting the demand for Specialty Silica in rubber-based construction materials such as sealants, adhesives, and industrial rubber products. Considering these factors, the rubber segment is expected to maintain its dominance and hold the largest market share in the Specialty Silica Market during the forecast period.

Based on Region

Asia Pacific To Lead Global Sales Owing to the Presence of a High Number of End-use Industries and Increasing Demand for Specialty Silica Products

The region is witnessing significant infrastructure development and urbanization, leading to an increased demand for Specialty Silica in construction materials such as concrete, sealants, and adhesives. Additionally, the growing automotive industry in countries like China and India is driving the demand for Specialty Silica in the production of tires, rubber parts, and coatings. The region also has a thriving electronics and electrical industry, further boosting the demand for Specialty Silica in semiconductors and optical fibers applications. Moreover, the presence of major Specialty Silica manufacturers in the region also contributes to its dominance in the market.

In 2022, the market in Asia Pacific was growing rapidly. This can be attributed to the increasing demand for Specialty Silica in various end-use industries such as automotive, construction, electronics, and personal care. The robust growth of these industries, coupled with the rising awareness regarding the benefits of Specialty Silica, is driving the market in North America. Furthermore, the presence of well-established manufacturers and the focus on research and development activities are further fueling the market growth in the region.

Competitive Landscape

In the Specialty Silica market, competition is fierce among the top players with well-established brands and extensive distribution networks. Companies like Evonik Industries, Solvay SA, and PPG Industries are the key market players striving to maintain their dominant positions. To achieve this, they employ various expansion strategies, including partnerships and product launches. For instance, Evonik Industries recently partnered with the biotech company Cubicure to launch a new photopolymer material for 3D printing applications. Such initiatives allow these companies to strengthen their foothold in the market and stay ahead of the competition.

The key players in the global Specialty Silica market include - Elkem (Norway), Evonik Industries AG (Germany), Madhu Silica Pvt. Ltd. (India), Nouryon (Netherlands), Oriental Silicas Corp. (Taiwan), PPG Industries Inc. (U.S.), PQ Corp. (UK), Sinosi Group Corp. (China), Solvay (Belgium), Tosoh Corp. (Japan), Wacker Chemie AG (Germany), W.R. Grace & Co. (U.S.) among others.

Recent Market Developments

• May 2021: W. R. Grace and Co. stated that the expansion of their silica gel production facility in Kuantan, Malaysia, had been completed. The facility should be able to meet the growing demand from a number of sectors, including biofuel, purification against blocking in plastic films and bags, leather, matting furniture, and coils.
• November 2021: The company said that the capacity of Nouryon's Levasil colloidal silica manufacturing facility in the United States will increase. The expansion is intended to satisfy the rising demand from the construction and packaging industries.
• October 2021: The company's first fumed silica plant in China, Evonik Wynca Silicon Material, has begun operations. By establishing a worldwide supply network for its clients in China and the rest of Asia, it seeks to position its company.

Segmentation of the Global Specialty Silica Market