Precipitated Silica Market - Global Forecast to 2029

 


Precipitated Silica Market is projected to grow from US$ XX million in 2019 to US$ XX Million by 2029. This is attributed to increasing penetration of precipitated silica as a reinforcing agent and filler to replace carbon black in tire manufacturing industry. Furthermore, rising utilization of precipitated silica in agrochemical composition as liquid active ingredient and chemical carrier drives growth of the global precipitated silica market.

The report " Global Precipitated Silica Market, by End-Use industry (Automobiles, Cosmetics, Electronics, and Agriculture), by Application (Personal Care, Rubber, Food, Fishing Boats, Adhesives and Sealants, and Coating and Inks), and Region - Global Forecast to 2029"

Key Highlights:

·         In January 2018, Evonik Industries AG launched “ULTRASIL 7800 GR” that optimizes production of green tires for SUVs and all-season tires.

·         In April 2018, Tata Chemicals acquired precipitated silica business of Allied Silica. This acquisition offers the possibility to make value added silica in the future for applications that demand high performance.

Key Market Insights from the report:        

The global precipitated silica market accounted for US$ XX million in 2019 and is projected to register a moderate CAGR of XX% over the forecast period. The market report has been segmented on the basis of end-use industry, application, and region.

·         By end-use industry, the automobile end-use industry is segment accounted for the largest share to the global precipitated silica market, owing to rising demand of precipitated silica from the automotive tire industry and precipitated silica provides enhanced properties to the tire such as reduced rolling resistance, increased traction, and high wear resistance.

·         By application, rubber segment accounted for largest share in the global precipitated silica market, due to increasing demand of precipitated silica in rubber products, as it acts as reinforcing filler and increases the strength and durability of rubber.

·         By region, The Asia Pacific precipitated silica market is expected to account for major share in terms of revenue in the global precipitated silica market and is further anticipated to maintain its dominance over the forecast period, owing to increasing demand for precipitated silica from end-use industry such as rubber, paint and coating, and agrochemicals in countries such as India and China. The Europe precipitated silica market is expected to account for significant revenue share in the global precipitated silica market in the near future, in 2018. 

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https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/5016

The prominent player operating in the global precipitated silica market includes Evonik Industries AG, Tosoh Silica Corporation, IQE plc, Ineos Silicas Ltd, W.R. Grace & Co, Huber Engineered Materials, Allied Silica, Solvay SA, PPG Industries Inc, and Quechen Silicon Chemical Co., Ltd.

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