Sellbyville, DE -- (SBWIRE) -- 02/13/2019 -- The major application areas of specialty silica market share are rubber, paints & coatings, plastics and food & healthcare industry. There are various other applications of specialty silica, for instance, it is used as a performance additive in tire industry owing to its low rolling resistance property, it acts as a matting agent to prevent the glossy effect on skin after application of cosmetics and used as a clarification agent for beer removal of impurities in food & beverage industry. It is used in various types of toothpastes, including transparent and medicated, as a polishing agent and abrasive. In plastic industry, it is used as an anti-blocking agent during polymerization to avoid polymer layer from sticking to each other.

The specialty silica market size, in terms of demand and production is led by the Asia Pacific. India, china, south Korea and Japan are the main consumers of product due to rising demand of the paints & coatings in automobile and construction industry, which has perpetually influenced the specialty silica market size.

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Also, automobile manufacturers in Asia Pacific are actively moving towards green tire development and pursuing it as future business, thus propelling the product demand in the near future. North America is the second biggest consumer of the product. This can be attributed to their high efficiency and increasing application scope in green tire development.

Global Specialty Silica Market size is likely to witness a prominent growth, expanding at a moderate CAGR over the forecast period. Specialty silica, chemical name silicon dioxide, is largely available in nature as quartz. Specialty silica is used in wide range of industries including paints & coatings, rubber, personal care & cosmetics, electronic components, refractories, food & beverage and plastics.

Enormous investments in research & development along with technological advancements for cost competitive product manufacturing, is expected to have a positive influence on the global specialty silica market size by 2024. Regulatory approvals by numerous associations such as U.S Department of agriculture and FDA pertaining to the product use in food & beverage industry will be the factor driving specialty silica market size in the forecast period.

The rising demand for oral care and cosmetic products in developing countries, will be escalating the specialty silica market size in the coming years. For instance, the global cosmetic industry sales in likely to expand at over 5% CAGR from 2017 to 2024. Furthermore, due to the abrasion resistance and high tensile strength of the product, it is highly desirable in rubber industry. The steady growth in automobile industry all over the world, especially on a larger scale in Asia Pacific, will propel the demand in rubber industry that will eventually augment the specialty silica market size over the forecast timeframe.

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Sluggish growth of end-user industries of such as paper and paints & coatings in developed regions, particularly Europe will probably hinder the specialty silica market size in the forecast timespan. Moreover, availability of cost competitive alternatives to silica gel and colloidal silica is also a threat to the industry growth. However, various tire manufacturers are considering uses the product in manufacturing green tires, thus creating new growth avenues for the specialty silica market share contributors over the forecast timespan.

Based on the product, the global specialty silica market share is segmented into fumed, precipitated, colloidal, fused silica and silica gel. Precipitated silica was the major product segment in 2016. It is widely used as a performance additive to increase wear resistance and wet grip capabilities in industrial and automotive tires. Fumed silica is exhibiting high growth potential in the overall specialty silica market due to its use as an integral component in paints & coatings. Fused and colloidal silica are used in refractories and are very expensive in market. Silica gel is a cost-effective substitute for silica types and is preferred by small and medium buyers due to its easy availability in market.

The major players functional in the specialty silica market share are AkzoNobel, PPG Industries, Solvay, Cabot Corporation, Madhu Silica Private Limited, Huber Engineered Materials, Tokuyama Corporation, Evonik Industries, W. R Grace & Company and Nalco Holding Company.

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On account of growing demand from tire & rubber industry, Evonik Industries began with production of precipitated silica at their new plant in Essen, USA in 2015. Likewise, Evonik and PPG Industries also announced new site for production of precipitated silica in 2016. Solvay launched highly dispersible silica (HDS) in 2015, that enhances performances in tires by saving energy.