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Precipitated Silica Market Is Driven By Its Growing Demand From The Rubber Industry
The Precipitated Silica market involves the manufacturing and sales of synthetic amorphous silica, which is produced via precipitation from solutions containing silicate salts. Precipitated silica has applications across various end-use industries such as rubber, food, personal care, and others owing to its exceptional functional properties. It acts as a reinforcement filler and reinforces rubber and improves physical properties such as strength, modulus, and tear resistance. Precipitated silica is widely utilized in tread compounds for its unique abrasion resistance and heat resistance properties.
The Global Precipitated Silica Market is estimated to be valued at US$ 4.56 Bn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Precipitated Silica are Evonik Industries AG, Oriental Silicas Corporation, Huber Engineered Materials, PPG Industries, Inc, MLA Group, Solvay S.A, Anmol Chemicals Group, Supersil Chemicals (I) Pvt. Ltd, Anten Chemical Co. Ltd., PQ Corporation, W.R. Grace & Co., Madhu Silica Pvt. Ltd., QUECHEN, AMS Applied Material Solutions, Covia Holdings LLC., Denka Company Limited. The Precipitated Silica Market Size is experiencing high demand due to growth in the rubber and automotive industries. Tire manufacturers widely use precipitated silica as a reinforcement filler to improve tire performance. Additionally, rising demand for low-cost and low-Rolling Resistance Tires (RRT) is further driving market growth.
Geographically, the global precipitated silica industry has witnessed rapid expansion across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region currently dominates the market and is expected to grow at a high CAGR during the forecast period. Countries like China, India, South Korea, and Japan are the major consumers of precipitated silica owing to vast automobile production in these countries.
Market drivers
The major drivers boosting the precipitated silica market include growing demand from the rubber industry. Tire manufacturers use precipitated silica as a reinforcement filler to enhance tire performance. Key properties offered are abrasion resistance, wear resistance, rolling resistance, and strength. Additionally, rising sales of automotive and expanding global auto component industry are surging precipitated silica demand. The product improves fuel efficiency and reduces CO2 emissions from vehicles. Swift growth of the tire retreading industry worldwide relying on precipitated silica will further propel market expansion over the coming years.
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