Get In Touch

North America Specialty Silica Market to Reach Valuation of ~US$ 3 Bn by 2030: Transparency Market Research

North America Specialty Silica Market: Introduction

In terms of value, the specialty silica market in North America is anticipated to expand at a CAGR of ~5% from 2020 to 2030 and cross value of ~US$ 3 Bn by 2030. The U.S. is likely to be a key country of the specialty silica market in North America between 2020 and 2030, in terms of demand. The rubber industry is projected to offer lucrative opportunities for the specialty silica market in North America in the near future.

North America Specialty Silica Market: Major Drivers and Restraints

Specialty silica is being aggressively adopted by tire manufacturers as a reinforcement filler. It offers high reinforcing ability and improves fuel efficiency. Rise in the demand for green tires is anticipated to boost the specialty silica market during the forecast period, as the tire industry accounts for a majority of the consumption of specialty silica. The increase in adoption of electric vehicles across the world in order to curb air pollution has propelled the demand for tires. This is driving the specialty silica market. Several players have adopted strategic initiatives to increase their production capacity for specialty silica, owing to high demand for specialty silica for use in various industrial applications. This factor is also expected to boost the specialty silica market in North America during the forecast period. For instance, in November 2016, Wacker Chemie AG announced establishment of a new pyrogenic silica plant in Tennessee, the U.S., with the capital expenditure of US$ 150 Mn. The new facility has the annual production capacity of 13,000 metric tons of pyrogenic silica. The added capacity is estimated to help Wacker Chemie AG meet the rising demand for specialty silica.

Specialty silica is employed in paper and pulp mills for retention and drainage aid systems. However, the demand for specialty silica is anticipated to decline in the near future, due to sluggish growth of the paper & pulp industry. The annual production of paper in North America stood at 107,406 metric tons in 2000. However, it declined to 82,984 metric tons in 2015, a drop of 22% from 2000 to 2015. This factor is expected to restrain the specialty silica market in North America during the forecast period.

North America Specialty Silica Market: Prominent Segments

In terms of value, the precipitated silica segment held a major share of the specialty silica market in North America in 2019. This trend is anticipated to continue during the forecast period, due to considerable usage of precipitated silica in rubber and tire industries in the region. Among applications, the leather finishing segment constituted a significant i.e. more than 38% share of the specialty silica market in North America in 2019. This trend is estimated to continue throughout the forecast period. On the other hand, crop protection & animal feed is projected to be the most rapidly expanding segment of the market in the region during the forecast period.

Competition Landscape

Major manufacturers of specialty silica in North America include Tokuyama Corporation, Nouryon, PPG Industries, Inc., Evonik Industries AG, Wacker Chemie AG, W. R. Grace & Co, and Solvay S.A. Imposition of stringent environmental regulation on the usage of specialty silica acts as a significant barrier for new players entering the specialty silica market in North America.

North America Specialty Silica Market: Segmentation

North America Specialty Silica Market, by Type

  • Precipitated Silica
  • Fumed Silica
  • Fused Silica
  • Silica Gel
  • Colloidal Silica

North America Specialty Silica Market, by Application

  • Rubber
    • Tire
    • Footwear
    • Others (including Elevator Belts)
  • Crop Protection & Animal Feed
  • Electronic Components
  • Pulp & Paper
  • Personal Care & Cosmetics
  • Paints & Coatings
  • Optical
  • Foundry
  • Construction
  • Others (including Textiles)

North America Specialty Silica Market, by Country

  • U.S.
  • Canada

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact

90 State Street, Suite 700

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com/

7 of 10 large enterprizes view our ToC to take the right decision.

View Report ToC