Market Size of Precipitated Silica Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Precipitated Silica Market Analysis
The global precipitated silica market is projected to register a CAGR of more than 4% during the forecast period (2022-2027). Unfavorable conditions arising due to the COVID-19 outbreak hindered the market's growth in the past year, but it has recovered, and the market is constantly growing.
The demand for precipitated silica surged due to the growth of the automobile tire industry across the world. The increasing usage of high-quality precipitated silica is expected to drive the market during the forecast period.
On the flip side, stringent environmental regulations are expected to hinder the growth of the market.
The rising demand for precipitated silica from rubber, agrochemicals, and oral care industries is projected to act as an opportunity for the market in the future.
The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
Precipitated Silica Industry Segmentation
Precipitated silica is produced by the controlled neutralization of dilute sodium silicate (water glass) by either concentrated sulfuric, hydrochloric, or carbonic acids. The precipitated silica market is segmented by end-user industry and geography. By end-user industry, it is segmented into agriculture, cosmetics, automobile, electronics, and other end-user industries. The report also covers the sizes and forecasts for the precipitated silica market in 15 countries across the major region. For each segment, the market sizing and forecasts have been done on the basis of volume (kilo tons).
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Precipitated Silica Market Size Summary
The precipitated silica market is experiencing a steady growth trajectory, driven primarily by the expanding automobile tire industry globally. The material's increasing application in tire manufacturing enhances tire performance, particularly in wet conditions, by improving properties such as tread wear resistance and adhesion. This demand is further bolstered by the rising production of automobiles, which in turn fuels the need for tires and, consequently, precipitated silica. The market is also witnessing opportunities from its use in various sectors, including rubber, agrochemicals, and oral care. However, the growth is somewhat tempered by stringent environmental regulations that pose challenges to market expansion.
The Asia-Pacific region is anticipated to lead the precipitated silica market, with China and India playing significant roles due to their substantial tire production and automotive markets. The region's dominance is supported by the increasing demand for precipitated silica in tire applications and its use in agriculture as an anti-caking agent and in pesticides. The market is characterized by a consolidated structure, with major players like Evonik Industries AG, Solvay, and PPG Industries Inc. actively participating in strategic partnerships and product innovations to enhance their market presence. These developments are expected to further drive the market's growth during the forecast period.
Precipitated Silica Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from Automotive Industry
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1.1.2 Others
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1.2 Restraints
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1.2.1 Stringent Environmental Regulations
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1.2.2 Other Restraints
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 End-user Industry
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2.1.1 Agriculture
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2.1.2 Cosmetics
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2.1.3 Automotive
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2.1.4 Electronics
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2.1.5 Other End-user Industries
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 Rest of Asia-Pacific
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2.2.2 North America
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2.2.2.1 United States
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2.2.2.2 Canada
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2.2.2.3 Mexico
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2.2.3 Europe
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2.2.3.1 Germany
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2.2.3.2 United Kingdom
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2.2.3.3 Italy
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2.2.3.4 France
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2.2.3.5 Rest of Europe
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle-East and Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 South Africa
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2.2.5.3 Rest of Middle-East and Africa
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Precipitated Silica Market Size FAQs
What is the current Precipitated Silica Market size?
The Precipitated Silica Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Precipitated Silica Market?
Evonik Industries AG, Solvay, PPG Industries Inc., Madhu Silica Pvt. Ltd. and QUECHEN are the major companies operating in the Precipitated Silica Market.
