Research Nester published a report titled “APAC Precipitated Silica Market: Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the APAC precipitated silica market in terms of market segmentation by application and end-user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Driven by the increasing demand for precipitated silica from the rubber & tire industry and growing application of precipitated silica in end use industries, the APAC precipitated silica market is estimated to witness significant growth in upcoming years. The market attained revenue of USD 921.6 million in 2019 and is anticipated to grow at a CAGR of 10.3% during the forecast period of 2021-2027. The market is segmented on the basis of end user into automobile, food & beverage industry, personal care, agriculture, electronics and others, out of which, the automobile sector is estimated to account for USD 340.2 million by the end of 2020. In the automotive industry, precipitated silica is mainly used in the manufacturing of automotive tires. It is often used to increase the grip of tires while reducing their rolling resistance simultaneously. In addition, it is often used in heavy vehicle tires to strengthen their tear resistance. The rising demand for automobiles in countries such as China, India and Japan are projected to have a positive effect on the growth of the APAC precipitated silica market. Furthermore, Asia Pacific's rapidly rising automotive industry has created attractive prospects for new entrants to the APAC precipitated silica market.
Increasing Use Of Precipitated Silica Among End Users And Rising Demand for Precipitated Silica From Rubber & Tire Industry to Drive Market Growth
Over the past few years, the demand for precipitated silica in end-use industries such as coatings & manufacturing, food & beverage, agriculture, and electronics has seen a substantial increase. In the coatings & construction market, precipitated silica has been gradually adopted to eliminate gloss in paints, coatings, varnishes, and lacquers. Besides, it also provides the paints and coatings with greater stir potential and lower viscosity. Moreover, continuous advances in the formulation of advanced modified amorphous precipitated synthetic silica by various manufacturers have also had a positive effect on market growth. Precipitated silica is the main component in the manufacturing of industrial rubber products, primarily in the manufacturing of tires. Precipitated silica serves as an inorganic tire filler that decreases rolling resistance and increases the handling and traction of the tire.
However, the threat of substitute such as carbon black is estimated to act as a barrier to the growth of the APAC precipitated silica market during the forecast period. In manufacturing of tire and various other rubber products, carbon black is commonly used as a strengthening agent.
This report also provides the existing competitive scenario of some of the key players of the APAC precipitated silica market which includes company profiling of Tata Chemicals Ltd. (NSE: TATACHEM), Anten Chemical Co. Ltd., Jinsha Precipitated Silica Manufacturing Co., Ltd., Brisil, Shanxi Tond Chemical Co., Ltd. (SHE:002360), Dalian Fuchang Chemical Co., Ltd., PPG Industries Inc.(NYSE: PPG), EVONIK (ETR: EVK), Solvay (EBR: SOLV) among other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the APAC precipitated silica market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.