Product Code: RP-ID-10346758 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Chemicals |
Report ID: 10346758
Market Overview:
APAC Precipitated Silica Market Outlook 2027
APAC Precipitated Silica Market Analysis 2018-2027
Precipitated silica is a synthetically derived amorphous silicon dioxide. It is obtained from quartz sand, which is a crystalline form of silicon dioxide. It is used in numerous applications ranging from tire manufacturing and industrial rubbers to paints & coatings and adhesives & sealants.
In 2019, the Asia Pacific precipitated silica market accounted for a market value of around USD 900 million and is expected to grow at a CAGR of 10.3%, over the forecast period of 2021-2027.
Owing to the growing application of precipitated silica in various end-use industries, such as the rubber & tire, coatings & construction, food & beverage industries, the precipitated silica market is expected to increase considerably. In addition, rapid industrialization and urbanization with growing income of the consumers are also expected to drive the market growth. The global demand for precipitated silica is further expected to increase over the forecast period owing to the technological innovation concerning the formulation of advanced precipitated silica for high-performance in end-use applications.
The global precipitated silica market is segmented by application and by end user. The market is further segmented by application into tires, footwears, silicon rubber, food & feed, coatings, paints & inks, adhesives & sealants, battery separators, synthetic paper and others, out of which, the tire segment is anticipated to grow at a CAGR of around 10% and reach around USD 600 million by the end of 2027. The growth of this segment is mainly on account of the growth in automotive sector backed by the increasing production and sale. Precipitated silica is used in combination with carbon black in tire formulations. In order to increase tear resistance, tensile strength, cut growth and adhesion properties, precipitated silica is often used as a primary filler in tires. Currently, to increase their performance, all global tire manufacturers are concentrating on increasing the silica content in tires. Additionally, precipitated silica is considered highly secure on account of its better wet grip property. This factor is further anticipated to increase the application of precipitated silica in the making of tires, which in turn is anticipated to fuel the market growth during the forecast period.
On the end user category, the market is segmented into automobile, food & beverage industry, personal care, agriculture, electronics and others, out of which, the automobile segment is estimated to account for around USD 300 million by the end of 2020. In the automotive industry, precipitated silica is mainly used in the manufacturing of automotive tire. It is often used to increase the grip of tire while reducing their rolling resistance at the same time. In addition, it is often used in tires of heavy vehicle to strengthen their tear resistance. Increasing demand for motor vehicles in countries such as China, India and Japan, is anticipated to positively influence the market growth. The swiftly growing automotive sector in Asia Pacific has further created a wide range of opportunities for the new entrants in the precipitated silica market.
Some of the affluent leaders in the APAC Precipitated Silica Market are Tata Chemicals Limited, Anten Chemical Co. Ltd., Jinsha Precipitated Silica Manufacturing Co., Ltd., Brisil, Shanxi Tond Chemical Co., Ltd., Dalian Fuchang Chemical Co., Ltd., PPG Industries Inc., EVONIK, Solvay and others.
Tata Chemicals Limited, Anten Chemical Co. Ltd., Jinsha Precipitated Silica Manufacturing Co., Ltd., Brisil, Shanxi Tond Chemical Co., Ltd., Dalian Fuchang Chemical Co., Ltd., PPG Industries Inc., EVONIK, Solvay and others.
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