Precipitated Silica Market Overview:
The global precipitated silica market generated revenue of $1,977.2m in 2015 and is projected to grow at a CAGR of 4.46% during the forecast period to reach $2,459.5m by 2021. The growing penetration of silica in application industries such as food & beverage, personal care, electronics and others are increasing the demand of precipitated silica market. It is owing to the high disposable income and the increasing urbanization especially in developing countries.
Precipitated Silica Market Outlook:
In Asia pacific region China and India are the leading country in precipitated silica market. In America U.S is the major market for precipitated silica market followed by Canada and Mexico. U.K and Russia are the key countries in the European region.
Precipitated Silica Market Growth drivers:
The consumer demand for precipitated silica products is driving the market. Precipitated silica products provides a very convenient packaging form for use in making a large variety of popular product for consumers.
Precipitated Silica Market Challenges:
Environmental regulations is standing as a challenge for the precipitated silica market. Precipitated silica are health hazardous. Frequent use of precipitated silica can lead to drying effect on hand as well as the other exposed bodies. It may also lead to nosebleeds.
Precipitated Silica MarketMarketResearch Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Precipitated Silica Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.
Precipitated Silica MarketMarketReport: Industry Coverage
By Process: Dry Process, Wet Process
By End User: Automobile, Personal care, Electronics, Agriculture, Pharmaceutical, Food, Others
Precipitated Silica Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Precipitated Silica Market Key Players Perspective:
Some of the Key players in this market include: Evonik Industries AG, PPG Industries, W.R Grace & Co., Solvay, Tosoh Corporation and others
Market Research and Market Trends of Precipitated Silica Market
- The Chinese automotive industry has witnessed a dramatic growth over the last decade. The market increased its demand from foreign vehicle manufacturers due to the continuing growth, rise in domestic demand, political stability and economic reforms. Additionally the wide range of use of silica in the automotive paints & coating application is another factor for the increasing demand of precipitated silica.
- Personal care and cosmetic market in Brazil is expected to witness a double digit growth through 2018, thereby boosting the markets. On the other hand slow growth in Brazil’s automotive market can be a key challenge for the demand of precipitated silica market.