Albany, New York, February 7, 2017: According to the latest market study released by Transparency Market Research, the global market of specialty silica is going to expand rapidly. Analysts have predicted that its market’s value to surge at a CAGR of 5.9% and reach US$7.32 bn by the end of 2024. This study has been recently added to the online database of Market Research Hub (MRH) report offerings and titled as “Specialty Silica Market- Global Industry Analysis and 2016-2024 Forecast”. Geographically, the report focuses on some of the key regions such as North America, Europe, Asia-Pacific, Latin America and MEA.
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Initially, the report begins with a market overview and then moves on to cover the growth prospects of the specialty silica market. This introductory section presents a detailed analysis of specialty silica, along with its market dynamics (such as drivers, restraints and opportunities) and its type and application in several industries. Specialty silica is a silicon dioxide, majorly available in the form of quartz in the environment. There are some basic type of specialty silica market available in the market which are as follows:
- Silica gel
- Fumed silica
- Precipitated silica
- Fused silica
- Colloidal silica
Among these, colloidal silica and fused silica are the two key products from the global specialty silica market that are used in refractories. The market is also expanding due to the inclusive growth of the cosmetics industry and the evolution in demand for fumed silica. Moreover, applications such as rubber, crop protection, paints & coatings, personal care & cosmetics, electronic components, food & beverage, animal feed, plastics and others (textile, paper, refractories etc.) are also increasing the need for specialty silica. Demand for specialty silica is projected to increase rapidly in the forthcoming years, due to extensive growth and push in the microelectronics market.
Additionally, research analysts estimate that the global specialty silica market is presently being driven by the growth in the global automotive industry and its high demand for green tires. In terms of geography, Asia Pacific dominates the specialty silica market in terms of production and demand. Also, in terms of speed of growth North America and Asia Pacific both are on the rise because these regions currently hold a flourishing automotive industry.
Moreover, competitive landscape section of the report has been presented. It provides the list of major players operating in the global market such as: Akzo Nobel N.V., Evonik Industries AG, PPG Industries, Inc., Huber Engineered Materials, Cabot Corporation, Wacker Chemie AG, Tokuyama Corporation, Solvay S.A. and W. R. Grace & Co. All these market competitors have been profiled on the basis of attributes such as company overview, financial overview, business tactics and their recent developments.
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