Prosperity of Industrialization to Drive Specialty Silica Market During 2030

Specialty Silica Market: Introduction

In terms of value, the global specialty silica market is anticipated to expand at a CAGR of more than 6% from 2020 to 2030 and cross US$ 10 Bn by 2030. Asia Pacific dominated the global specialty silica market in terms of volume in 2019. It is estimated to be the leading region of the global specialty silica market during the forecast period. The rubber industry is projected to offer lucrative opportunities for the specialty silica market in the near future.

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Specialty Silica Market: Major Drivers and Restraints

The increase in usage of specialty silica in the manufacture of tires is expected to drive the global specialty silica market during the forecast period. Specialty silica is being aggressively adopted by tire manufacturers as a reinforcement filler. It offers higher reinforcing ability and improves fuel efficiency due to stringent environmental norms. The rise in the demand for green tires is anticipated to boost the global specialty silica market during the forecast period, as the tire application segment accounts for the majority of consumption of specialty silica. Specialty silica products are versatile raw materials for cosmetics and personal care applications. They increase the viscosity of oils and emulsions, thus improving the stability and structure of creams, lipsticks, lotions, and make-up preparations.

Specialty silica products transform cosmetic oils into highly viscous gels. This produces transparent products with the pseudo plastic flow behavior. Specialty silica products are used as thickening agents in toothpastes. This gives toothpastes the rheological body for good filling during the manufacturing process. Therefore, increase in usage of specialty silica in cosmetic and personal care products is anticipated to drive the global specialty silica market during the forecast period. Specialty silica is employed in end-use industries such as paper & pulp and textile apart from rubber. Paper & pulp and textile industries have been expanding at a sluggish pace, since the past few years. Traditionally, along with polymers, colloidal silica has been employed in paper and pulp mills for drainage aid systems. However, the demand for colloidal silica is projected to decline during the forecast period, due to the sluggish growth of the paper & pulp industry. This, in turn, is likely to marginally restrain the specialty silica market.

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