Precipitated Silica Market To Witness A Significant Growth Of USD 3.72 Billion By 2030


San Francisco, 22 June 2023: The Report Precipitated Silica Market Size, Share & Trends Analysis Report By Application (Rubber, Agrochemicals, Oral Care, Food), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2023 - 2030

The global precipitated silica market size is anticipated to reach USD 3.72 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to register a CAGR of 7.1% during the forecast period. Increasing utilization of the product in tires to enhance tire tread wear resistance and adhesion, is the major factor driving the growth. Substitution of carbon black with precipitated silica on account of its eco-friendly nature is anticipated to fuel the market.

Application of the product in agrochemicals is expected to witness a considerable growth on account of its extensive usage as free flow agent. Increasing use of precipitated silica owing to its absorption ability and improved chemical stability is expected to drive demand from the agrochemicals market.

Growing use in food industry on account of its superior absorption, high purity, and anti-caking property is expected to fuel demand for precipitated silica over the forecast period. Precipitated silica is used extensively in food applications including edible salt and powdered food products. It helps enhance product consistency through automated dosing of vegetable and fruit extracts, preservatives, and nutrients.

In agrochemicals, the product is used as an active ingredient carrier in pesticide manufacturing. It enables consistent and high loading of chemically active ingredients in various agrochemicals including fungicides, insecticides, and herbicides. In addition, the product is used as a process aid for urea and chemicals owing to its anti-cracking properties.

Increasing use of the product in toothpaste industry as a cleaning and thickening agent is expected to drive growth of the precipitated silica market over the forecast period. The product is used in oral care applications to provide effective cleaning and polishing performance. It is used in toothpaste formulations, primarily on account of its whitening and cleaning properties, to meet dentifrice requirements.

Access Research Report of Precipitated Silica Market @ https://www.grandviewresearch.com/industry-analysis/precipitated-silica-market

Precipitated Silica Market Report Highlights

  • Rubber application held the highest market share of 53.0% in terms of revenue in 2022 owing to huge demand from tire manufacturers
  • Agrochemicals application is forecasted to register a CAGR of 6.4% over the forecast period owing to advantages like improvement in visco-elastic characteristics of liquid agrochemicals.
  • Asia Pacific led the precipitated silica market with a revenue share of 42.7% in 2022 owing to massive production of tires and increasing construction activity in the region
  • In terms of revenue, Central and South America is estimated to register a CAGR of 8.4% over the forecast period on account of economic recovery in the region
  • Evonik Industries, Solvay SA., and PPG Industries, are the key manufacturers in the market. Capacity extension owing to rising demand and price modification on account of volatility in raw material prices are the major strategies adopted by the top players.

Precipitated Silica Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 2.29 billion

Revenue forecast in 2030

USD 3.72 billion

Growth Rate

CAGR of 7.1% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

List of Key Players in Precipitated Silica Market

  • Anten Chemical Co. Ltd.
  • Huber Engineered Materials
  • Evonik Industries
  • PPG Industries Incorporated
  • IQE Group
  • Solvay SA
  • PQ Corporation
  • MLA Group
  • Tosoh Silica Corporation
  • R. Grace & Co.
  • Madhu Silica Pvt. Ltd

Access Press Release of Precipitated Silica Market @ https://www.grandviewresearch.com/press-release/global-precipitated-silica-market

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