Silica Market Overview:
The silica market witnessed a significant surge in its size in 2021, and is projected to exhibit a rapid revenue CAGR throughout the forecast period. Silica is known to enhance the structural rigidity, resistance properties, and flex fatigue qualities of rubber goods. This is why it finds immense use in tire applications, since it strengthens the binding and shear resistance between car tires and metallic reinforcements. The tire industry is being propelled by the growth of vehicle manufacturing, particularly in countries like China, India, Japan, South Korea, Taiwan, Indonesia, Malaysia, Mexico, Germany, and the United States. Moreover, the increasing government expenditure, advances in road infrastructure, rapid economic expansion, and a growing preference for personal transportation are expected to fuel the demand for vehicles, thereby supporting the growth of the market revenue.
Silica, also known as silicon dioxide (SiO2), is a compound of the elements silicon and oxygen, which is present in the earth's crust. It is used in various applications such as silica sand in cement concrete, mortar, and concrete, and as sandstone in the development and construction of buildings and roads. The market is divided into three segments: type, end-user industry, and region. The types of silica are amorphous and crystalline, while the end-user industries include building and construction, electronics, glass production, water treatment, and others.
Silica Market Segments:
The global silica market is divided into three main segments: type, end-use industry, and region. The type segment includes amorphous and crystalline silica. Amorphous silica is used in various applications, including food, pharmaceuticals, and rubber manufacturing, while crystalline silica is used in industries such as shale oil and gas, glass manufacturing, and construction.
The end-use industry segment is divided into building and construction, rubber manufacturing, shale oil and gas, glass manufacturing, water treatment, and others. The building and construction industry is one of the largest consumers of silica, primarily due to its use in cement, mortar, and concrete production. The rubber manufacturing industry uses silica to improve the performance of tires and other rubber products. The shale oil and gas industry uses silica as a proppant in hydraulic fracturing, while the glass manufacturing industry uses it to enhance the properties of glass products.
The regional outlook for the silica market includes North America, Europe, Asia-Pacific, Latin America, and the Middle East Africa. The Asia-Pacific region is expected to be the largest market for silica due to the high demand from the construction, automotive, and electronics industries in countries such as China and India. North America and Europe are also significant markets due to the large construction and automotive industries in these regions.
Overall, the global silica market is expected to grow significantly over the forecast period, driven by the increasing demand from various end-use industries such as construction, rubber manufacturing, and shale oil and gas. The growth in the market is also attributed to the expansion of the automotive industry, particularly in developing countries, where there is a growing preference for personal transportation.
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Silica Market Strategic Developments:
In 2021, Heraeus expanded its product offerings in the semiconductor sector with the acquisition of HS Advanced Materials Co. Ltd. from Korea.
In 2019, BASF announced plans to invest in a new silica facility at its Dusseldorf-Holthausen location to support the growth of the specialty silica industry.
In 2020, Evonik Industries opened a new precipitated silica plant in Brazil to cater to the increasing demand for the product in the South American region.
In 2021, PPG Industries acquired Tikkurila, a Finland-based company, to expand its architectural coatings business and strengthen its presence in the Nordic region.
In 2019, Cabot Corporation announced the expansion of its silica plant in Poland, which is expected to increase the company's production capacity by 25%.
In 2020, Wacker Chemie AG expanded its production facility in South Korea to meet the growing demand for silicone sealants, adhesives, and resins in the Asia-Pacific region.
In 2019, Tosoh Silica Corporation opened a new manufacturing facility in Japan to increase its production capacity of specialty silica products.
In 2021, Solvay announced the acquisition of Henkel's surface treatment business to strengthen its position in the aerospace and automotive industries.
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Silica Market Competitive landscape:
The global silica market includes several prominent companies that dominate the market share. PPG Industries Inc., a U.S.-based company, is a global supplier of paints, coatings, and specialty materials. It offers silica-based products for a variety of applications, including the construction and automotive industries. The company has a strong focus on research and development to innovate new products and improve existing ones.
Industrias Químicas del Ebro SA, a Spanish company, offers a wide range of products and services for the construction, automotive, and other industries. It specializes in the production of fumed silica, a high-performance material used in various applications such as coatings, adhesives, and composites.
Evonik Industries AG, a German company, is a leading producer of specialty chemicals, including silica. Its silica products are used in a variety of applications such as coatings, adhesives, and sealants. The company has a strong focus on sustainability and invests heavily in research and development to offer environmentally friendly products.
Tata Chemicals Ltd, an Indian company, offers a range of silica products that are used in various applications such as detergents, paper, and agrochemicals. The company has a strong focus on innovation and has developed several new products in recent years.
AntenChem Co. Ltd, a U.S.-based company, specializes in the production of high-purity silica for use in the semiconductor industry. Its products are used in the manufacture of integrated circuits, flat panel displays, and other electronic devices.
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