According to report published by Grand View Research, “Silica Market Size, Share & Trends Analysis Report By Application (Construction, Oral Care, Agrochemicals, Rubber, Food & Feed), By Region, Competitive Landscape, And Segment Forecasts, 2019 – 2026”, published by Grand View Research, Inc.,
The global silica market size is anticipated to reach USD 10.10 billion by 2026, registering an 8.6% CAGR during the forecast period. It is utilized in the reinforcement of elastomer products, such as automotive tires, due to its ability to reduce rolling resistance, improved traction under slippery conditions, and enhanced fuel efficiency. It also acts as an anti-blocking agent in thermoplastic films and a matting agent in paints and varnishes.
Key Takeaways from the report:
It also acts as an anti-blocking agent in thermoplastic films and a matting agent in paints and varnishes.
Rubber application acquired the largest share in 2018 and is estimated to remain dominant throughout the forecast period. The global demand for tires is increasing on account of an expanding automobile industry, especially in emerging economies. As a result, major tire manufacturers are aggressively involved in expansion projects in emerging economies like India. For instance, in April 2018 Bridgestone India announced plans to double its production capacity over the next five years at an investment of USD 304 million. This is anticipated to propel product demand from tire manufacturers.
In the construction sector, high-performance concrete (HPC) comprising silica has been recognized as one of the most significant advanced materials necessary for infrastructure development. HPC manufactured with silica fumes provides increased strength and higher resistance to corrosion, abrasion, and chemicals. Moreover, it offers lower permeability, enhanced durability, sustainability, and life-cycle cost efficiencies for concrete. This is estimated to drive utilization of the product in the construction sector.
Browse More Reports in Plastics, Polymers & Resins Industry:
South East Asia Polyurethane (PU) Adhesives Market: Emergence of South East Asia as a major automobile manufacturing hub on account of proximity to demand centers and low manufacturing cost is expected to drive the regional PU adhesives demand. Increasing construction spending on account of growing urbanization rates across major countries has also contributed to the market growth.
Pentaerythritol Market: Strong shift towards the use of pentaerythritol as a substitute for electrical transformer fluid is expected to drive global pentaerythritol market. Growth of key end-use industries such as construction and automotive particularly in emerging markets of Asia Pacific and Latin America is also expected to impact the market growth positively.
The competitive landscape of the market reflects a number of companies currently engaging in capacity extensions in order to enhance their market position. For instance, in October 2018, Evonik set up a precipitated silica plant in South Carolina to meet the increasing demand from the tire industry in North America.
Grand View Research has segmented the global silica market report on the basis of application and region:
Silica Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2026)
Silica Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2026)
Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: Switzerland
Website: www.grandviewresearch.com/industry-analysis/silica-market
Are you looking for an opportunity to earn a six-figure residual income? 13,000 people tunr 65 every day in the…
Small Cap With Large Potential “This is a game changer in the industry,” said Brett Moyer, CEO of WiSA Technologies.…
Mining Stocks In Foucs Bank of America has recommended a list of stocks likely to benefit from recent Copper and…
Tysons, VA – Apr 29, 2024 – TycheTools, a leader in data center smart wireless sensors and AI-powered cooling analytics,…
Photo by Karolina Grabowska from pexel.com Personal loans have emerged as one of the go-to capital sources for many entrepreneurs…
Bettina Spicer Owens, a retired IT professional and debut author, unveils her captivating historical fiction novel Achim’s Story. More than…