The surging demand from sectors such as food & beverage, electronic components, and personal care & cosmetics is estimated to bolster the specialty silica market companies. Reports created by MRFR detail the developments of the industry that can be expected in the market through the forecast period. The global market is estimated to grow at a 6.1% CAGR in the duration of the forecast period.
The need for specialty silica in the automotive industry is estimated to of the vital factors bolstering the development of the global market share in the upcoming period. The burgeoning development noted in the global construction industry is predicted to rise which will spur the specialty silica market companies in the duration of the forecast period.
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Dec 2020 U.S. Silica Holdings, Inc. declared that its industrial and specialty products business will raise costs for most of its diatomaceous earth, non-contracted silica sand, cellulose, perlite, and clay products used chiefly in glass, chemicals, recreation, agricultural, foundry, paints, coatings, elastomers, filtration, roofing, and other applications. The price upsurges will span up to 15 percent, contingent on the product and category. The price upsurges are applicable for shipments beginning Jan. 1, 2021. The price increases will back the continued financing the firm is making in promoting its capacity to meet the mounting demand for its products and to counterbalance rising production expenses.
Feb 2020 W. R. Grace & Co. declared the start of its new 8,200 square-meter colloidal silica plant at its European prize production and R&D facility in Germany. The facility amplifies the global production volume of LUDOX, Grace’s foremost colloidal silica product, and drastically improves Grace’s responsiveness to clientele in the Middle East and Africa, (EMEA), Europe, and Asia Pacific.
The optimism about COVID-19 related treatment methods such as the vaccines being rolled out in various regions is estimated to further improve the overall sentiment in the market. The improvement in core industries performance on a global scale is estimated to fast track the development of the worldwide market in the upcoming period. The overall development prospects of the market players are estimated to improve steadily with the effect of the COVID-19 pandemic reducing. The entry of global players in key developing regional markets is predicted to have a favorable effect that will ripple into other areas of the market as well. The role of governmental bodies in facilitating the development of the market is estimated to be vital through the grant of special incentives to attract global titans to certain regions and contribute to the development of the market in the forecast period. Furthermore, the presence of better trade relations between several nations is estimated to offer more options for growth in the upcoming period.
The important companies in the Specialty Silica Market are Akzo Nobel N.V., W. R. Grace & Co., Cabot Corporation, Wacker Chemie AG, Huber Engineered Materials, Evonik Industries, Solvay S.A., Nalco Holding Company, PPG Industries, Inc., Madhu Silica Private Limited and others.
The segmental investigation of the specialty silica market is conducted on the basis of applications, product types, and regions. The applications segment of the specialty silica market includes paints & coatings, rubber, agriculture, food & beverage, electronic components, personal care & cosmetics, and others. The product type segment of the specialty silica market consists of fused silica, precipitated silica, silica gel, colloidal silica, and fumed silica. The region-based segment in the specialty silica market consists of Asia Pacific, Europe, North America, and other prominent regional markets.
Detailed Regional Analysis
The regional scrutiny of the specialty silica market consists of Asia Pacific, Europe, North America, and other prominent regional markets. The Asia Pacific region’s specialty silica market controls the global market. The mounting automobile business has led to an upsurge in the manufacture of tires which in turn has a positive impact on the global specialty silica market. National markets like India, China, and South Korea are exploiting specialty silica at a high rate due to the emerging infrastructure and electronic industry in the region. Consequently, it provides superior opportunities to producers of specialty silica in emerging economies. It is predicted that the development of the specialty silica market is estimated to be elevated in the North American specialty silica market due to growth in demand for food & beverage and cosmetics industries.
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