SPECIALTY SILICA MARKET ANALYSIS (2019-2027)

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2. SPECIALTY SILICA MARKET ANALYSIS • Specialty Silica Market, By Product Type (Precipitated, Fumed, Fused, Silica Gel, Colloidal), By Application (Rubber, Plastics, Ink & Coatings, Electrical & Electronics, Agriculture & Feed, Food & Beverage, Personal Care, Others), and By Region (North America, Latin America, Europe, Asia-pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Specialty Silica Market 2017–2027 Specialty Silica is widely used in the production of the tire in the automotive industry as it helps to reduce carbon emission. Specialty Silica can be classified into precipitated Silica, fumes silica, fused silica, colloidal silica, and silica gel and they all find application across paints & coatings, electronic components, personal care, and cosmetic products among others. Moreover, silica precipitate also finds application across the construction industry owing to their high tensile strength and resistance to abrasion. Furthermore, specialty silica is also used in the electronics industry as a circuit board and capacitor. The global specialty silica market is projected to reach US$ 10.4 billion by the end of 2027, in terms of revenue, growing at CAGR of 6.0% during the forecast period (2019 to 2027).

4. Drivers Growing adoption of specialty silica for chemical mechanical planarization/ polishing (CMP) in the electronics industry is propelling the market growth of specialty silica. CMP is a polishing process that involves the removal of undesirable dielectric products on the surface of the silicon wafer. Specialty silica, is broadly used in manufacturing of flat, defect-free, and smooth surface on silicon semiconductor, optical lenses, and sapphire wafers in electronic goods. Increasing the application of specialty silica in oral care products is projected to propel the market growth over the forecast timeframe. Silica is widely used as a cleaning and whitening agent in the manufacturing of various oral care products. High grade of specialty silica that is used in the dental application offers high cleaning to abrasion ratio which is projected to raise its demand across oral care products. Therefore, rising application across oral care products is expected to fuel market growth.  Geographically, Asia-Pacific dominated the global specialty silica market in 2018, reporting 72.5% market share in terms of revenue, followed by Europe and North America, respectively.

5. Figure 1. Global Specialty Silica Market, Revenue Share (%), By Region, 2018

6. Market Restraints High dependency on cyclical end-use industries specialty silica is not a standalone finished product, instead, it is a consumable the product that finds application across various end-use industries. Some of the end-use industries such as the automobile industry, represent cyclical behavior in terms of demand, which in turn might affect demand for specialty silica. As a result of derived demand from the end-use industries, growth, and profitability of specialty silica market depend on the growth and profitability of end-user industries. This, in turn, it could become a major challenge for market players operating in the global market. The major disadvantage of specialty silica filler is that it is very hard that leads to increased wear in polymer processing instrument. Moreover, the availability of cost-effective substitute of silica gel and colloidal silica is also projected to restrict the market growth of specialty silica over the forecast period.

7. Market Opportunities Increasing the launch of novel and new silica for emerging applications is expected to propel the market growth of the specialty silica. For instance, in August 2019, Evonik Business Line Silica launches a new specialty product, SPHERILEX 145, for the oral care industry. This product in oral care product will help to achieve high cleaning levels can be achieved while offering lower abrasion to dentin, enamel, fillings and other oral hardware. Therefore, the rising launch of new silica product is expected to foster the market growth. Rising investment by major players for improving the production of silica is expected to offer potential growth opportunity to the market of specialty silica. For instance, in April 2019, BASF has announced to invest mid-range double-digit euro million sums in the modernization of its silica plant at the Düsseldorf-Holthausen site. The investment is earmarked for the modernization and enhancement of existing facilities in the later years to come. Such rising investment is projected to fuel the market growth of specialty silica over the forecast timeframe. 

8. Figure 2. Global Specialty Silica Market – Opportunity Analysis

9. Market Trends Rising application of silica for coatings application and for that manufacturer are offering new silica especially for coating industry is gaining traction in the market is expected to propel the market growth in the year to come. For instance, in March 2019, DKSH’s Business Unit Performance Materials, ingredients and specialty chemicals distributor, has announced the expansion of Evonik’s performance range of silica for use in coatings and ink applications to Indonesia, Thailand, the Philippines, Singapore, Myanmar, and Cambodia. Growing usage of specialty silica in animal feed as an additive is expected to propel the market growth of specialty silica over the forecast period. Also, the rising demand for silica from the personal care and cosmetic industry is again expected to propel the market growth of specialty silica. Moreover, the rising application of silica in the food & beverage industry is further anticipated to foster the market growth of specialty silica over the forecast timeframe.

10. Figure 3. Global Specialty Silica Market, Revenue Share (%), By Product Type, In 2018 On the basis of product type, in 2018, precipitated silica accounted the largest market share of 72.2% in terms of revenue, followed by fumed silica and colloidal silica, respectively.

11. Figure 4. Global Specialty Silica Market – Value Chain Analysis

12. Competitive Section • Key players active in the global specialty silica market are Solvay SA, Huber Engineered Materials, Madhu Silica Pvt. Ltd. (MSPL), Evonik Industries AG, PPG Industries, Inc., Akzo Nobel NV, Cabot Corporation, Wacker Chemie AG, Nalco Holding Company, and Qingdao Makall Group Inc. • Few Recent Developments • Solvay SA • In February 2015, Solvay introduced its new range of highly dispersible silica, under brand name Efficium, in order to cater to the increasing demand for green tires. • In 2015, Solvay acquired New Jersey-based Cytec Industries Inc. in order to enhance its market position in specialty chemicals and advanced materials business. • Huber Corporation  • In September 2017, The J.M. Huber Corporation has completed the sale of the Silica business unit of Huber Engineered Materials (HEM) to Evonik Industries AG, a global specialty chemicals company. The US$ 630 million transactions, completed after approvals from the European Commission and other global regulatory bodies, transfers ownership of the HEM Silica facilities in North America, Europe and Asia to Evonik

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