The global precipitated silica market is anticipated to reach a valuation of US$ 7.6 billion in 2032, with sales growing at a robust CAGR of 8.8% from 2022 to 2032. Valued at US$ 3.2 billion in 2022, the target market is strongly influenced by rising demand for precipitated silica from various industrial verticals including rubber, agrochemicals, and oral care industries during the forecast period. Precipitated silica is a form of synthetic amorphous silicon dioxide that is inert, non-toxic, and chemically balanced which permits the manipulation of its properties to meet the demand for a variety of different sectors. This, in turn, aids the global growth of the market.
An upsurge in automotive production will also aid the growth of the precipitated silica market as the demand for rubber tires will rise with the increase in automotive production. Likewise, the development of the adhesive and sealant sector will bolster the precipitated silica market as it plays an important role as a thickening agent and in improving bond strength.
Empower Your Strategy: Sample Our Insightful Report for a Competitive Edge:
https://www.futuremarketinsights.com/reports/sample/rep-gb-11073
The increasing use of precipitated silica in the cosmetic industry will also augur well for the market. Again, in terms of end-use industries, the cosmetic segment dominates the market with around 21% of the market share. As silica increases the water resistance of creams and lotions. As a result, the growing demand for lotions and creams, and other cosmetic products, propel the demand for precipitated silica.
Following the high demand for precipitated silica in the cosmetics and automotive sectors, the electronics and agriculture industries also contribute to the growing demand for precipitated silica. Numerous market players are focusing on research efforts regarding the application of precipitated silica in the electronics sector. The low electrical conductivity of precipitated silica makes it a suitable raw material for the electronics industry. Consequently, the electronics sector creates a high demand for the target market and accounts for a share of over 19%. Moreover, the precipitated silica market is significantly influenced by the prevailing green tire trend. The green tire trend is expected to open new revenue streams for the precipitated silica market in the automotive sector. SiO2-based tires offer better road grip, less fuel consumption, and decreases rolling friction. These aspects promote the growth of the precipitated silica market in the upcoming years.
Key Takeaways:
- The innovations in applications of carbon black will likely hinder the growth of the precipitated silica market.
- North America will dominate the global precipitated silica market with the help of an expanding infrastructure sector.
- Japan will emerge as a lucrative pocket for the precipitated silica market owing to the expansion of the male-cosmetic sector.
- By application, the rubber segment will demonstrate the highest growth in the precipitated silica market.
- Based on the end-use industry, the cosmetic sector will likely dominate the market.
Competitive Landscape
Solvay SA, PPG Industries Inc., W.R. Grace & Co., Tosoh Silica Corporation, and Evonik Industries, among others, are some of the eminent players in the precipitated silica market profiled in the full version of the report.
Significant market players are keen on employing capacity expansion strategies. These businesses also invest in research efforts to produce novel and innovative goods. Many of these participants also engage in partnerships and mergers to enhance their market footprints. For instance, in 2019, Evonik Industries AG launched a new precipitated silica variant, particularly for whitening toothpaste which was later patented by the enterprise.
Maximize Growth Opportunities: Purchase Our Report for Crucial Insights:
https://www.futuremarketinsights.com/checkout/11073
More Insights into the Precipitated Silica Market
FMI offers an unbiased analysis of the global precipitated silica market in its latest report, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. This report delivers a complete breakdown of a ten-year sales forecast, market drivers, challenges, trends, and opportunities. For a better understanding of the global market potential, growth, and scope, the market is segmented on the basis of application, end-use, and region.
Market Segmentation
The global Precipitated Silica market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
By End – Use Industry
- Automobiles
- Cosmetics
- Electronics
- Agriculture
- Others
By Application
- Rubber
- Personal Care
- Fishing Boats
- Food
- Coating & Inks
- Adhesives & Sealants
- Others
By Region
- North America
- Latin America
- Europe
- APEJ
- Japan
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube