Precipitated Silica Market Report 2019-2029
Forecasts by Application (Agrochemicals, Rubber, Food, Oral Care, Others), Plus Analysis of Leading Companies
Visiongain’s new report indicates that the global Precipitated Silica market will attain $3.86 billion revenue by 2029.
Global Precipitated Silica Market is expected to grow on account of growing demand from agrochemical, vehicle tyre industry and food industry among others. The market is expected to grow at a healthy CAGR of 7.2% over the projected period. Precipitated silica is generated at high temperatures by the reaction of acid, for example sulfuric acid (H2SO4) with alkaline silicate. Sodium silicate is the most prevalent alkaline silicate used in precipitated silica manufacturing. The silica is generated by precipitation, by stirring the solution in the presence of reactants. Silica’s characteristics differ based on several variables including reactants, response temperature, and duration of the reaction. Precipitated silica dominates worldwide silica demand.
Rubber, cosmetics, chemicals, plastics, adhesives, and packaging are among the major applications for precipitated silica. The worldwide demand for precipitated silica is dominated by rubber followed by chemical production. Among the automobile industry, the electronic industry is also anticipated to offer lucrative growth for the precipitated silica market over the forecast period.
In 2019 Asia Pacific Precipitated Silica Market accounted for more than 30% of overall market share due to growth in manufacturing sector and growing GDP in the emerging economies of China and India. In addition, North America’s demand for precipitated silica is expected to expand at a sluggish pace mainly due to market saturation in several end-use sectors including automotive and plastic sectors, among others. Increasing environmental regulations are expected to restrict North America and Europe’s demand for precipitated silica. However, it is expected that reviving demand for cars in Europe will increase precipitated development in the silica industry.
The precipitated silica market is highly fragmented and regional players make up a significant part of the worldwide market share. Therefore, there is high price sensitivity to precipitated silica market. In addition, low capital investment has increased the risk of fresh market entrants, primarily in developing economies.
The comprehensive report offers market estimation and forecast for the period ranging 2019- 2029 for leading national markets and rest of the world. Moreover, the report contains dedicated companies covering 20 leading companies in the field of Precipitated Silica.
The Precipitated Silica Market Report 2019-2029 report will be of value to anyone who wants to better understand the precipitated silica market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the Precipitated Silica industry.
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