Precipitated Silica Market Will Grow At Highest Pace Owing To Growing Demand
Precipitated Silica Market Will Grow At Highest Pace Owing To Growing Demand
Blog Article
Precipitated silica, also known as silica gel or amorphous silica, is a complex inorganic polymer formed through the precipitation reaction of sodium silicate. It has a highly porous texture, white color and high porosity. Precipitated silica is extensively used as a thickening, reinforcing and anti-caking agent in products such as dentifrices, coatings, food and animal feed, personal care and hygiene products due to its effective viscosity and thickening properties. The rising traction of natural and eco-friendly ingredients in personal care and oral care products has augmented the demand for precipitated silica.
The Global Precipitated Silica Market is estimated to be valued at US$ 4.56 Bn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Precipitated Silica are Evonik Industries AG, Oriental Silicas Corporation, Huber Engineered Materials, PPG Industries, Inc, MLA Group, Solvay S.A, Anmol Chemicals Group, Supersil Chemicals (I) Pvt. Ltd, Anten Chemical Co. Ltd., PQ Corporation, W.R. Grace & Co., Madhu Silica Pvt. Ltd., QUECHEN, AMS Applied Material Solutions, Covia Holdings LLC., Denka Company Limited. The demand for Precipitated Silica Market Growth is due to its wide usage in industries such as dentifrices, coatings, food, personal care etc. Technological advancements such as development of new forms of precipitated silica like spherical and granular grades have augmented their usage in new applications.
Market Trends
Increasing demand from paints and coatings industry: Precipitated silica is widely used as a reinforcing and extender filler in paints, coatings and sealants industries. The growth in construction and automotive industries is augmenting the demand for coatings which is driving the precipitated silica market.
Growing popularity of precipitated silica as food additive: Precipitated silica is being used as an anti-caking agent, carrier and flow conditioning agent in food industry. It has replaced dried hectorite clays which were traditionally used as anti-caking agents in food.
Market Opportunities
Rising demand for dentifrices in emerging markets: The demand for toothpastes is projected to increase significantly in countries like India, China and other Southeast Asian countries due to growing awareness about oral health, increasing disposable income and changing lifestyles. This will create huge growth opportunities for precipitated silica producers.
Growth in personal care industry: The personal care industry is growing rapidly due to increasing consumer spending on personal grooming products. Precipitated silica finds extensive usage in products like facial masks, scrubs, exfoliants etc. providing opportunities for precipitated silica manufacturers.
Impact of COVID-19 on Precipitated Silica Market Growth
The COVID-19 pandemic had a severe impact on the precipitated silica market. During the initial phase of lockdowns, production was halted and supply chains were disrupted severely impacting market growth. The tire industry which is a key end-use sector saw a major decline in demand affecting precipitated silica consumption. With declining automotive sales, the demand from rubber applications reduced significantly. However, with easing of lockdowns and resumption of economic activities, production and supply chains are being restored gradually helping the market to recover.
The pandemic accelerated trends like increased preference for personal mobility options and online shopping boosting demand from tire and e-commerce packaging sectors in the long run. The recovery is expected to be faster in regions which have controlled the spread of virus effectively through faster vaccination drives. While short term prospects were impacted, long term market outlook remains positive supported by growing use in industries like automotive, packaging, personal care and construction. Market players are focusing on expanding production capacities and forward integration to meet rebounding demand and gain market share in the post pandemic environment.
Geographical Regions with Highest Market Concentration
The precipitated silica market in terms of value is highly concentrated in Asia Pacific region contributed by high demand from countries like China, India, Japan and South Korea. This is attributed to presence of strong manufacturing bases for end-use industries particularly tires, toothpastes and packaging in the region. China dominates global production and consumption of precipitated silica accounting for over 30% of global market share supported by flourishing automotive industry in the country.
Fastest Growing Regional Market
The precipitated silica market is expected to witness fastest growth in North America over the forecast period. This growth will be fuelled by rising demand from tire industry with increasing vehicle fleet and expanding rubber applications sector in the region. Further, rapid market penetration of precipitated silica in niche sectors including oral care products, foods and pharmaceuticals especially in US and copyright is supporting market expansion. Various government initiatives to boost manufacturing sector coupled with growing foreign investments are creating conducive environment for market development in the region.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)