Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Silica, a crystalline compound having colorless appearance, is the richest mineral in earth’s crust. Enormous availability of silica and wide-scale applications in end-use industries such as rubber, plastic, and coatings, etc. are some of topographies of the silica compound.
The global specialty silica market is expected to expand significantly at a CAGR of 5.7% over the forecast period i.e. 2016-2023. Further, the global specialty silica market accounted for USD 3.8 Billion in 2015 and anticipated to reach USD 5.8 Billion by 2023. Moreover, the precipitated silica segment is estimated to be the fastest growing segment of overall specialty silica market on account of high demand of specialty silica in rubber sector comprising automotive tires and industrial and mechanical rubber.
The specialty silica market of Asia-Pacific is estimated to dominate the overall market across the globe. The market accounted the largest volume share of 955.6 KT in 2015 in overall specialty silica market across the globe. Rapid expansion of automotive sector and growth in infrastructural facilities in the region are expected to sustain the demand for specialty silica in near future.
On the other hand, increasing research and development investments to develop cost-effective and less toxic silica derivative in North-America and Europe region are expected to foster the growth of specialty silica in near future. Growing awareness towards green tires and efficient coatings are expected to exhibit a positive impact on the growth of specialty silica market over the forecast period i.e. 2016-2023. CLICK TO DOWNLOAD SAMPLE REPORT
Technological advancements, introduction of various advanced silica derivatives and growing demand of enhanced silica derivatives in various end-use industries in order to manufacture good quality products, rapid growth in urbanization and swelled food & beverages industries across the globe are some of the key factors expected to pave the market growth for the specialty silica market in near future.
In addition to that, increasing aging population and growing trend towards effective personal care products are expected to drive the demand for beauty products which subsequently would raise the demand for specialty silica in chemical and personal care products industry in near future.
On the other hand, emergence of industrial automation and automobile industries, huge investment in automotive sector and rising use and adoption towards advance silica products are further projected to give a boost to the demand of specialty silica in automotive sector globally.
Our in-depth analysis segmented the global specialty silica market in the following segments:
Global specialty silica market is further classified on the basis of region as follows:
The market of specialty silica is majorly driven by the rapid growth in industrial automation and automobile industries. Additionally, increasing infrastructure and building construction in emerging economies, rise in use of silica derivatives in order to manufacture products with better strength and long life, growing trend of green tires and rising concern towards the harmful effects of rubber tires on environment would bid a boost in the demand of the specialty silica in ear future. Moreover, properties such as matte finish, proficient in removing impurities, performance additive nature in terms of tires and colorless appearance makes silica compound and its derivative beneficial in various applications, hence benefitting the global silica market in long run.
Factors such as introduction of advanced silica derivatives, technological advancements in construction and automobile sector, on-going researches to develop more efficient and cost effective silica derivatives, rising demand of fumed silica owing to its wide scale application in automotive industry are expected to swell the demand for specialty silica market over the forecast period i.e. 2016-2023.
However, high cost of silica derivatives further increase the cost of products, developed landscape of end-use industries resulting less demand, slackening of global economy and high emissions from specialty silica are some of the factors hindering the growth of specialty silica market globally.
The key manufacturers of specialty silica market are as follows:
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The Global Specialty Silica Market is segmented as follows:
By Regions
Market Dynamics
Supply and Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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