Based on the market research conducted by FMI, the global silica for S-SBR market is projected to record a CAGR of 7.3% from 2023 to 2033. The market size in 2023 is expected to be USD 861.8 million. By 2033, the valuation is anticipated to reach beyond USD 1.8 billion.
The manufacturers in the footwear market are making use of silica for S-SBR in order to ensure that the footwear is sturdy. The application of silica is projected to ensure that the slippers show an anti-skidding property. This might increase the demand for silica in the S-SBR market.
The automotive industry has been expanding significantly. The introduction of hybrid vehicles is anticipated to hasten market expansion. To prevent rust on the spare components, the industry has been using silica for S-SBR. Automobile tires are made more durable by the application of silica. The green tire, which has enormous commercial potential, primarily uses silica. Manufacturers across niches are looking for carbon black alternatives. The application of carbon black leads to lung disease, and irritation in the ears, throat, and nose. The silica for S-SBR is a suitable alternative as its application doesn’t lead to an unhealthy ecosystem. This may surge the sales of silica for S-SBR during the forecast period.
Silica is also one of the most important components in the electrical market. The ability to act as both conductor and insulator has assisted the product in gaining traction.
Thus, the FMI analysts are of the view that ‘The surging footwear market, automobile market, eco-friendly nature, and lots of other factors are expected to surge the silica for S-SBR market growth during the forecast period.’
Key Takeaways:
- The market is expected to record a CAGR of 7.3% from 2023 to 2033.
- In 2023, the market value is projected to be USD 861.8 million.
- By 2033, the valuation is anticipated to cross USD 1.8 billion.
- On the basis of regional analysis, North America is expected to hold the leading market share.
- The United States market is anticipated to record a CAGR of 6.1%.
- Germany market is expected to record a CAGR of 5.6%.
- China market is projected to register a CAGR of 9.2%.
- Japan market is anticipated to record a CAGR of 4.7%.
- South Korea market is expected to record a CAGR of 5.7%.
- On the basis of type, the untreated segment is expected to hold the leading market share and is anticipated to record a CAGR of 7.3%.
- On the basis of application, the tire reinforcement segment is projected to hold the dominant market share and is expected to record a CAGR of 7.5%.
Competitive Landscape
Manufacturers are looking to make huge investments in research and development. This might result in the production of better-quality products. The focus is also on sustainable development and making use of eco-friendly products. The emphasis is on entering into profitable mergers and acquisitions. This may allow the key players to surge their market share. The manufacturers are also emphasizing entering into related niches through organic growth. During such times, the key players are thoroughly analyzing the related sectors and making the required move.
Significant Developments in the Silica for S-SBR Market:
- In February 2023, Trinseo was named one of America’s most responsible firms by Newsweek.
- In January 2023, LANXESS and TotalEnergies agreed to collaborate on sustainable styrene.
The Silica for S-SBR Market Segmentation
By Product Type:
- Treated
- Untreated
By Application:
- Tire Reinforcement
- Footwear Sole
- Polymer Modification
- Adhesives and Sealants
- Others
By End Use Industry:
- Automotive
- Construction
- Footwear
- Other Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- The Middle East and Africa
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