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The global precipitated silica market size valued USD 2.1 billion in 2021 and expected to reach USD 4.98 billion by 2028, at a CAGR of 8.1% during forecast period 2022-2028. Quartz and Crystalline forms of Silicon Dioxide are used to make precipitated Silica. It's a sort of amorphous silicon dioxide that's been synthesized. These characteristics could be altered during the production process to produce goods with a variety of performance-enhancing qualities. These items can be employed in a variety of industrial settings. This report studies global precipitated silica market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global precipitated silica market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Rubber accounted for larger revenue share in global precipitated silica market with a significant CAGR and is expected to grow over the forecast years. The rubber segment accounts for the maximum market share and will continue to dominate the market for the next few years. Some of the major factors responsible for the growing preference for precipitated silica is its capacity to improve the tear strength of rubber, abrasion resistance, flex fatigue resistance, heat build-up, resilience, modulus, adhesion, and hardness of rubber. Key Developments: In October 2018, Evonik Industries invested about USD 120 million and started a precipitated silica plant for the tire industry in South Carolina, U.S. In October 2016, PPG completed the project of expanding the precipitated silica production capacity at Delfzijl, Netherlands to meet the growing global demand.
Fastest Growing Market
The increasing demand for paints & coatings and rubber from the construction and automotive industry, high disposable income, the increasing urbanization especially in developing countries, rising disposable income together with increasing middle-class population and rapid urbanization. Also, high investments on research and development and improvements in industrial sectors will provide huge opportunity for the market. However, high cost with limited resources of raw materials and stringent government rule & regulation will hamper market growth.
The precipitated silica market is projected to expand at a CAGR of 8.1% during the forecast period.
PPG Industries, Evonik Industries, R. Grace & Co, Solvay SA, Huber Engineered Materials
North America is the fastest-growing region for Precipitated Silica Market
Key playerâ€™s profiles in the global precipitated silica market include: