Global Specialty Silica market has been studied basis on product types of specialty silica in our latest research. Among these segments, fumed and precipitated segment is estimated to be the most traction gaining market on account of rising adoption and wide-scale applications in automobile sector.
The market of specialty silica accounted for USD 3.8 Billion in 2015 in the global market. Further, the market is believed to expand at a CAGR of 5.7% during the forecast period i.e. 2016-2023. The market of specialty silica is anticipated to driven by the factors such as rapid urbanization and growth in infrastructure facilities across the globe, swift development in automotive and chemical industry.
In Asia-Pacific region, the specialty silica market is estimated to dominate the global market which accounted the largest volume share in overall specialty silica market in 2015. The speciality silica market is primarily impelled by the factors such as emerging nations in the region, development in infrastructure and building construction and adoption of technologically advanced silica derivatives.
Rising Demand of Speciality Silica in Automobile Industry:
Factors such as rapid expansion of automobile sector, growing need of efficient and log life automobile tires, introduction of low cost silica derivatives, emerging economies across the globe, rising concern towards quality product owing to increase in personal disposable income and availability of less toxic silica are prompting the demand for specialty silica over the forecast period i.e. 2016-2023.
Rapid Growth in Infrastructure and Building Construction:
Rising development in building and construction sector with modern infrastructure facilities, increasing adoption of advanced silica coatings in order to increase life and strength of structures, growing chemical and coatings industries to provide better and cost-effective coatings across the globe are projected to swell the demand for advanced specialty silica over the forecast period. Moreover, the market of specialty silica is predicted to flourish in near future on account of rising demand of specialty silica in beauty products and textile industries in order to manufacture quality goods to attract more consumers in near future.
However, high cost of silica derivatives further increase the cost of products, developed landscape of end-use industries which results in less demands, slackening of global economy and high emissions from specialty silica are some of the elements affecting the growth of specialty silica market globally.
The report titled "Global Specialty Silica Market Outlook 2023" delivers detailed overview of the Global Specialty Silica Market in terms of market segmentation by Product type, by Application type, by 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.
This report also provides the existing competitive scenario of some of the key manufacturers of the Global Specialty Silica Market which includes company profiling of Akzo Nobel NV, AZ Electronic Materials, Cabot Corporation, Ecolab Incorporated, Fujimi Incorporated, Bayer AG, etc. 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 Global Specialty 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.
To know more about this research, kindly visit https://www.researchnester.com/reports/specialty-silica-market-global-demand-growth-analysis-opportunity-outlook-2023/191