The global precipitated silica market size is anticipated to reach USD 3.34 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to register a CAGR of 7.9% during the forecast period. Increasing utilization of the product in tires to enhance tire tread wear resistance and adhesion, is the major factor driving the growth. Substitution of carbon black with precipitated silica on account of its eco-friendly nature is anticipated to fuel the market.
Application of the product in agrochemicals is expected to witness a considerable growth on account of its extensive usage as free flow agent. Increasing use of precipitated silica owing to its absorption ability and improved chemical stability is expected to drive demand from the agrochemicals market.
Growing use in food industry on account of its superior absorption, high purity, and anti-caking property is expected to fuel demand for precipitated silica over the forecast period. Precipitated silica is used extensively in food applications including edible salt and powdered food products. It helps enhance product consistency through automated dosing of vegetable and fruit extracts, preservatives, and nutrients.
In agrochemicals, the product is used as an active ingredient carrier in pesticide manufacturing. It enables consistent and high loading of chemically active ingredients in various agrochemicals including fungicides, insecticides, and herbicides. In addition, the product is used as a process aid for urea and chemicals owing to its anti-cracking properties.
Increasing use of the product in toothpaste industry as a cleaning and thickening agent is expected to drive growth of the precipitated silica market over the forecast period. The product is used in oral care applications to provide effective cleaning and polishing performance. It is used in toothpaste formulations, primarily on account of its whitening and cleaning properties, to meet dentifrice requirements.
Click the link below:
Further key findings from the report suggest:
- Rubber application held the highest market share of 52.7% in terms of revenue 2018 owing to huge demand from tire manufacturers
- In terms of volume, agrochemicals was the second largest application with a market share of 12.9% in 2018. Its growth is mainly driven by increasing demand for efficient agrochemical processing techniques
- Asia Pacific led the precipitated silica market with a revenue share of 43.4% in 2018 owing to massive production of tires and increasing construction activity in the region
- In terms of revenue, Central and South America is estimated to register a CAGR of 8.4% over the forecast period on account of economic recovery in the region
- Evonik Industries, Solvay SA., and PPG Industries, are the key manufacturers in the market. Capacity extension owing to rising demand and price modification on account of volatility in raw material prices are the major strategies adopted by the top players.