As the precipitated silica market is characterized by
low price sensitivity, the key companies operating in the global
precipitated silica market are competing amongst each other in terms
of product differentiation. The degree of competition in the market
is expected to stay moderate in the coming years owing to the
revision of emission norms. The top four players in the global
precipitated silica market accounted for approximately 57% of the
market 2014. The leading manufacturers of precipitated silica are
Evonik Industries AG, Solvay, PPg Industries Inc., and Oriental
Silicas Corporation.
This 153 page report gives readers a comprehensive
overview of the Precipitated Silica market.Browse Market Research
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In order to enhance their product portfolio and
expand their business, the key players operating in the global
precipitated silica market are likely to enter into strategic
acquisitions and mergers, joint ventures, exclusive agreements. Many
leading companies are also focusing on the expansion of their
production capacity to increase the circulation of their products.
They are also investing in research and development projects for
innovation and new product development.
Rising Need for Environment Friendly Alternatives
from Automotive Industry to Drive Demand for Precipitated Silica
Due to the growing pollution and the deteriorating
air quality, many developed countries have been impelled to adopt
strict emission norms. As a result of this, the automotive industry
is focusing on the development of environment friendly alternatives
which are likely to aid in the reduction of emissions from
automobiles. The amount of energy spent to move a vehicle is directly
responsible for the decrease in fuel consumption, making tires
responsible for the use of almost one-third of a vehicle’s fuel.
According to a TMR analyst, “The use of a
combination of precipitated silica and other eco-friendly materials
is likely to reduce the amount of emission of fuel from vehicles.”
Thus, the demand for precipitated silica is anticipated to rise due
to the prevalence of these factors. The growing toothpaste industry
is also likely to drive the sales of precipitated silica as it is
used as a thickening agent in toothpastes.
High Energy Costs to Hinder Productivity of
Precipitated Silica Industry
Precipitated silica is highly used as a filler in
rubber tires and thus is in high demand from the automotive industry.
However, the high energy cost incurred by manufacturers during the
production of precipitated silica is likely to hamper the growth of
the global precipitated silica market. As the extraction of
precipitated silica requires a temperature of around 1,400 degree
Celsius, the use of fuel in this process is also substantially very
high. This in turn is likely to adversely affect the
cost-effectiveness of precipitated silica resulting in a decrease in
the productivity of the global precipitated silica market. However,
researchers across the world are trying to develop better production
techniques to curb this issue.
Increasing Application in Paper Industry to
Present Manufacturers of Precipitated Silica with Better Growth
Prospects
Due to the fluctuation in the titanium dioxide
market, the paper industry has shifted its focus toward precipitated
silica to increase the opacity and whiteness of processed paper.
Precipitated silica is likely to be one of the best potential
replacements for titanium dioxide in the paper industry. Thus, as a
result of the large scale adoption of precipitated silica in the
paper industry, the manufacturers of precipitated silica are likely
to be presented with lucrative opportunities from this industry in
the coming years.
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With all these factors prevailing, the global
precipitated silica market is projected to expand at a CAGR of 5.5%
from 2015 to 2023. The global precipitated silica market was valued
at US$2.22 bn in 2015 and is expected to touch a valuation of over
US$3.48 bn by the end of 2023. Asia Pacific is anticipated to lead
the global precipitated silica market in terms of consumption with a
revenue share of 52.5%. Rubber is likely to emerge as the largest
application segment by 2023 in the global precipitated silica market
accounting for almost 63.6% of the overall revenue.
The review is based on the findings of a TMR report
titled, “Precipitated Silica Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2015 - 2023.”
Key Takeaways:
- Extraction of precipitated silica from rice husk ash to provide lucrative opportunities to manufacturers of precipitated silica.
- Asia Pacific to emerge as the largest region in terms of consumption of precipitated silica accounting for 52.5 % of the global revenue.
- Global precipitated silica market to expand at a CAGR of 5.5% from 2015 to 2023.
Key Segments of the Global Precipitated Silica
Market:
Global Precipitated Silica Market – By
Application,
- Rubber
- Personal Care
- Agrochemicals
- Others
Global Precipitated Silica Market – By Region,
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
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