by The precipitated silica market refers to a type of synthetic amorphous silicon dioxide obtained via chemical precipitation from aqueous solutions. Precipitated silica possesses high purity, high surface area and controlled particle size distribution which make it useful for use in various industries including rubber, food, dental bonding agents, oral care products, coatings and more.
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 growing demand from the rubber industry is a major driver for the Precipitated Silica Market Size. The usage of precipitated silica has increased in applications such as tread compounds, sidewall compounds and tire cord compounds as it helps enhance physical properties, reduce rolling resistance and improve wet skid resistance. The market is witnessing increased consumption from developing regions of Asia Pacific and Latin America on account of rapid industrialization.
The global expansion of end use industries such as automotive, construction and healthcare has also facilitated growth of the precipitated silica market. Manufacturers are expanding production capacities across regions to leverage business opportunities arising from increasing infrastructure development globally.
Market Key Trends
One of the key trends gaining prominence in the precipitated silica market is its usage as a thickening agent and non-caloric bulking agent in low-calorie foods. Compared to other thickening agents like starch, alginates and carrageenan, precipitated silica delivers better stability to processed foods and beverages without adding calories. Its multi-functional properties support both texture and volume enhancement. This has encouraged food ingredient manufacturers to widely adopt precipitated silica.
Porter’s Analysis
Threat of new entrants: New companies entering the precipitated silica market must invest heavily in R&D and manufacturing facilities to produce high quality products. The presence of large established players also poses barriers for new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes like silica gel and fumed silica. However, precipitated silica has distinct physical properties making it irreplaceable for certain applications.
Bargaining power of suppliers: A few major companies globally supply raw materials like sodium silicate to precipitated silica producers giving them strong bargaining power over buyers.
Threat of new substitutes: Substitute products like fumed silica, silica gel and other specialty silicas pose medium threat as precipitated silica has certain superior properties making it irreplaceable for some end-use industries.
Competitive rivalry: The global precipitated silica market is consolidated in nature with top players accounting for majority share. Intense competition exists based on product quality, consistency, reliability of supply and pricing.
The Asia Pacific region accounts for the largest value share in the precipitated silica market owing to the large rubber and agrochemical industries in China, India, Japan and other Southeast Asian countries. North America and Europe are other major geographical regions driven by auto demand and usage of precipitated silica in dietary supplements, food, dental products and more.
The Middle East & Africa region is poised to witness the fastest growth in the precipitated silica market during the forecast period on account of rising demand from tire, personal care and construction industries across countries like Saudi Arabia, UAE, South Africa and others experiencing rapid industrialization and infrastructure development.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
