침강 실리카 시장 : 용도별, 등급별, 최종사용자 산업별, 지역별(2024-2031년)

Precipitated Silica Market Valuation - 2024-2031

The flexible features and broad range of uses of precipitated silica are driving its growing demand in a variety of industries. Precipitated silica, a type of synthetic amorphous silica is appreciated for its capacity to increase product performance and efficiency across multiple industries. It is used in the automotive industry to improve tire grip, reduce rolling resistance, and increase fuel efficiency. This improves grip on highways while lowering carbon emissions by enabling the market to surpass a revenue of USD 2.72 Billion valued in 2023 and reach a valuation of aroundUSD 6.66 Billion by 2031.

Precipitated silica is in high demand because of its potential to improve product performance, and production processes, and meet regulatory requirements in a variety of industries. Its adaptability, combined with continual advances in manufacturing techniques and applications allows it to spread into new markets and applications confirming its importance in modern industrial and consumer products by enabling the market to grow at aCAGR of 11.86% from 2024 to 2031.

Precipitated Silica Market: Definition/ Overview

Precipitated silica is in high demand owing to its potential to improve product performance, and production processes, and meet regulatory requirements in a variety of industries. Its adaptability combined with continual advances in manufacturing techniques and applications allows it to spread into new markets and applications confirming its importance in modern industrial and consumer products.

It has a wide range of uses across sectors. In the automobile industry, it is used as a reinforcing filler in tires to improve durability, wet grip performance, and minimize rolling resistance. This improves fuel efficiency and road safety. Additionally, precipitated silica is used in automobile coatings and paints to improve scratch resistance, gloss retention, and weatherability hence improving vehicle look and durability.

Precipitated silica, a versatile substance generated from silicon dioxide is expected to see significant future use in a variety of sectors. Precipitated silica is used in a variety of industries due to its unique features which include high surface area, porosity, and particle size control. In the automotive sector, it improves tire performance by increasing traction decreasing rolling resistance, and increasing fuel efficiency. As global restrictions on fuel efficiency and emissions tighten, the need for precipitated silica in tires is likely to increase.

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Will the Increasing Demand from the Electronics Industry Drive the Precipitated Silica Market?

The growing demand from the electronics industry is projected to be a major driver of the Precipitated Silica Market in the future years. Precipitated silica which is known for its superior electrical insulation and thermal stability, is finding increasing use in a variety of electronic components and devices. According to a report by the United States Geological Survey, global precipitated silica production will reach around 2.8 million metric tons in 2020, with the electronics sector accounting for a significant percentage. The increasing growth of the electronics industry, particularly in emerging economies is driving up demand. For example, the Semiconductor Industry Association projected that global semiconductor sales will reach $439 billion in 2020, a 6.5% increase over 2019, despite the hurdles faced by the COVID-19 pandemic.

The increasing demand from the electronics industry is expected to be a major driver of the Precipitated Silica Market in the coming years. Precipitated silica known for its exceptional electrical insulation and thermal durability is increasingly used in a wide range of electronic components and devices. According to the United States Geological Survey, global precipitated silica production will reach approximately 2.8 million metric tons in 2020 with the electronics sector accounting for a sizable portion. The expansion of the electronics sector, particularly in emerging economies, is pushing rising demand. For example, the Semiconductor Industry Association predicted that global semiconductor sales would reach $439 billion in 2020, a 6.5% rise over 2019, despite the COVID-19 pandemic.

Will Volatility in Raw Material Prices Hamper the Precipitated Silica Market?

The volatility of raw material costs, notably silicon dioxide and sulfuric acid is a significant factor that may impede the expansion of the precipitated silica industry. According to a report by the United States Geological Survey, the price of silicon, a critical component in precipitated silica manufacturing has fluctuated significantly over the last decade. For example, the unit value of silicon metal rose from $1.21 per pound in 2010 to $1.43 per pound in 2020 with significant peaks and troughs in between. These price swings can have a direct impact on precipitated silica production costs, potentially resulting in unstable profit margins for businesses.

Furthermore, the International Energy Agency (IEA) reports that sulfur prices which affect sulfuric acid costs, have been very variable ranging from $30 to $180 per ton between 2016 and 2021. Such uncertainty in raw material costs might make it difficult for precipitated silica producers to maintain consistent pricing strategies, discouraging some potential investors from entering the market. Despite these obstacles, the Precipitated Silica Market has been resilient and continues to expand driven by rising demand from a variety of end-use sectors. According to the European Commission's study on important raw resources, global demand for silica is predicted to increase by 4.4% per year between 2020 and 2030.

Category-Wise Acumens

How will the Rising Global Focus on Fuel Efficiency and Environmental Sustainability Impact the Application Segments of Precipitated Silica?

The rubber sector is the most common application due to its widespread use as a reinforcing filler. Precipitated silica considerably improves the mechanical properties of rubber compounds including tear strength, abrasion resistance, and flex fatigue resistance. These features are critical in the manufacture of high-performance tires which use precipitated silica to improve traction, reduce rolling resistance, and improve overall tire performance. With a growing global emphasis on fuel efficiency and environmental sustainability, tire makers are increasingly using precipitated silica to meet severe regulatory requirements. This tendency is driving significant expansion in the Precipitated Silica Market within the rubber industry.

Following closely is the personal care sector where precipitated silica is widely used in toothpaste formulations. It acts as a cleansing and abrasive ingredient as well as offering whitening and polishing qualities that are crucial in dental care products. Precipitated silica is a popular ingredient in toothpaste due to its ability to gently brush away stains without hurting tooth enamel. Furthermore, its inert and safe nature assures that it complies with oral health regulations and consumer desires for effective dental care. As global demand for novel dental care products grows, precipitated silica continues to play an important role in improving the performance and appeal of toothpaste formulations cementing its dominance in the Precipitated Silica Market.

How will Increasing Consumer Awareness of Environmental Sustainability Impact the Demand within the Precipitated Silica Market's End-User Industry Segments?

The tire industry is anticipated to dominate the Precipitated Silica Market due to the substantial use of precipitated silica in tire manufacture. Precipitated silica improves tire performance by increasing grip, reducing tread wear, and lowering rolling resistance. These characteristics are critical for satisfying high regulatory demands for fuel efficiency and safety in the car sector. As global vehicle markets expand, notably in Asia Pacific and North America, there is a growing need for high-performance tires with precipitated silica additives. This trend is being spurred by increased customer awareness of environmental sustainability and the benefits of fuel-efficient vehicles leading tire makers to use precipitated silica to efficiently meet these expectations.

The automobile industry as a whole contributes significantly in the growth of tire industry. In addition to tires, precipitated silica is used in automobile parts such as belts, hoses, and seals to improve durability, flexibility, and resistance to wear. These components are crucial to the reliability and longevity of vehicles especially in hard operating situations. Furthermore, the building industry is a primary driver of precipitated silica demand. Precipitated silica improves the strength, durability, and resistance to environmental variables including moisture and corrosion in construction materials such as concrete and coatings. As infrastructure development projects expand internationally, particularly in emerging nations, the demand for high-performance construction materials including precipitated silica is likely to grow further broadening its application across various industries.

Country/Region-wise Acumens

What Impact will the Increasing Production of Automotive Tires Have on the Precipitated Silica Market in the Asia Pacific Region?

The Asia Pacific region is expected to dominate the Precipitated Silica Market owing to increase in automobile tire production. This tendency is projected to significantly boost the region's Precipitated Silica Market. According to an International Organization of Motor Vehicle Manufacturers (OICA) study, China alone would build over 26 million automobiles in 2021 accounting for roughly 33% of global output. This large volume of vehicle manufacturing is directly proportional to the increased demand for tires which in turn increases the demand for precipitated silica. The substance is important in tire production because it improves tire performance by increasing rolling resistance, wet grip, and durability

The increasing emphasis on fuel efficiency and environmental standards in the automobile industry highlights the importance of precipitated silica in tire manufacture. The European Tyre and Rubber Manufacturers' Association (ETRMA) reports that adding silica in tire compositions can reduce rolling resistance by up to 20% resulting in increased fuel efficiency and lower CO2 emissions. This is consistent with the tough emission standards being implemented in Asia Pacific countries. For example, China's adoption of the China VI emission standard for vehicles is predicted to increase demand for high-performance tires, hence boosting the Precipitated Silica Market. Furthermore, the India Brand Equity Foundation (IBEF) predicts that India's automotive industry will reach USD 300 Billion by 2026 implying a significant development trajectory for tire production.

How will the Demand for Tire Shipments for Electric Passenger Vehicles Drive the Market in the North America?

Shipments of tires for electric passenger vehicles are predicted to be the fastest-growing segment in the North American. The demand for precipitated silica in North America is expected to increase significantly, owing mostly to the growing adoption of electric vehicles (EVs) and the resulting requirement for specialist tires. According to the International Energy Agency (IEA), electric car sales in North America more than doubled between 2020 and 2021 totaling approximately 630,000 units. This trend is anticipated to continue with forecasts indicating that electric vehicles might account for up to 50% of new automobile sales in the United States by 2030.

Government actions and legislation targeted at lowering carbon emissions help to drive EV adoption. For example, the United States Environmental Protection Agency (EPA) has established increasingly stringent fuel economy rules, indirectly raising demand for high-performance tires containing precipitated silica. Furthermore, the U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy notes that research and development activities are underway to improve EV tire technology with an emphasis on materials such as precipitated silica to increase energy efficiency. As key North American automotive manufacturers commit to electrifying their vehicle ranges, demand for EV-specific tires is likely to rise propelling the Precipitated Silica Market in the area.

Competitive Landscape

The precipitated silica market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.

Some of the prominent players operating in the Precipitated Silica Market include:

PPG Industries, Inc., Industrias Quimicas Del Ebro SA, Evonik Industries AG, Tata Chemicals Ltd., AntenChem Co., Ltd., Solvay SA, PQ Corporation, Oriental Silica Corporation, Tosoh Silica Corporation, Madhu Silica Pvt. Ltd.

Latest Developments

In January 2023, PPG has hired Morgan Stanley & Co. LLC to examine potential options for its silica products business.

In July 2023, PQ Corporation expanded its silica production at its existing facility in Pasuruan, Indonesia. This results in the expansion of the company's product portfolio.

TABLE OF CONTENTS

1. Introduction

• Market Definition
• Market Segmentation
• Research Methodology

2. Executive Summary

• Key Findings
• Market Overview
• Market Highlights

3. Market Overview

• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter's Five Forces Analysis

4. Precipitated Silica Market, By Grade

• Rubber Grade
• Food Grade
• Industrial Grade
• Cosmetic Grade

5. Precipitated Silica Market, By Application

• Rubber
• Personal Care
• Food & Feed
• Coatings
• Plastics
• Adhesives & Sealants
• Others

6. Precipitated Silica Market, By End-Use Industry

• Tire
• Automotive
• Construction
• Healthcare
• Agriculture

7. Regional Analysis

• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE

8. Market Dynamics

• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market

9. Competitive Landscape

• Key Players
• Market Share Analysis

10. Company Profiles

• PPG Industries Inc.
• Industrias Quimicas Del Ebro SA
• Evonik Industries AG
• Tata Chemicals Ltd.
• AntenChem Co. Ltd.
• Solvay SA
• PQ Corporation
• Oriental Silica Corporation
• Tosoh Silica Corporation
• Madhu Silica Pvt. Ltd

11. Market Outlook and Opportunities

• Emerging Technologies
• Future Market Trends
• Investment Opportunities

12. Appendix

• List of Abbreviations
• Sources and References