Precipitated silica market is expected to reach US$3.69billion by 2022, according to a new report by Grand View Research, Inc. The market is expected to witness substantial growth on account of its extensive use in rubber, toothpaste, and food industry. Growing demand for rubber grade products is expected to propel precipitated silica demand.
Further key findings from the report suggest:
Rubber application accounted for over 60% of the overall revenue share in 2014. Rubber grade silica is used in tyre industry, wherein it helps to reduce rolling resistance, and increase grip of the tyres. Increasing utilization of the compound in tyres as replacements for carbon blacks provides better anti-skid properties and improved tensile and tear strength, which is further anticipated to fuel demand. Furthermore, growing use of precipitated silica as a reinforcement agent in tyre as well as rubber formulations is also expected to favorably impact the market.
Agrochemicals market is expected to witness significant growth over the forecast period due to its extensive use in applications as free flow agents on account of its higher absorption ability and improved chemical stability. Growing use of the compound as absorbent carriers and flow conditioners to improve suspension behavior and storage stability in liquids is expected to propel the demand.
Europe accounted for over 19% of the revenue share in 2014. Increasing use of the compound in rubber segment, particularly micro sheets, rice rollers, thermoplastic rubber, PVC sheets, and shoe soles is expected to propel demand. The product is used in transmission and conveyor belts wherein it improves tear strength and imparts high degree of reinforcement to elastomer compounds. Additionally, the product is also used in shoe soles on account of its non-scuffing and wear resistant characteristics, wherein it provides resilience and durability.
Precipitated silica manufacturers offer their products through different distribution channels which includes direct supply agreement, and vendors & distributors. Key precipitated consumers include Kadvani Chemicals Pvt. Ltd., and Oriental Silicas Corporation. Furthermore, companies such as PQ Corporation, PPG Industries, Inc, Madhu Silica Pvt. Ltd and Solvay are engaged in manufacturing, distribution and end-use.