by The precipitated silica market has been witnessing significant growth due to its wide applications across industries such as rubber, food, and coatings. Precipitated silica is a white amorphous powder that has a porous structure and particle size ranging from 5-50 micrometers. It offers properties like reinforcing strength, thickening, protection from UV radiation, and absorption. These characteristics make it suitable for use as a reinforcing & non-reinforcing filler and anti-blocking agent.
The global precipitated silica market size is estimated to be valued at US$ 3.25 Bn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the precipitated silica market are Evonik Industries AG, Oriental Silicas Corporation, Huber Engineered Materials, PPG Industries, Inc, MLA Group, Solvay S.A, Anmol Chemicals Group, Supersil Chemicals (I) Pvt. Ltd, Anten Chemical Co. Ltd., PQ Corporation, W.R. Grace Co., Madhu Silica Pvt. Ltd., QUECHEN, AMS Applied Material Solutions, Covia Holdings LLC., Denka Company Limited. Growing preference for precipitated silica over fumed silica in applications like rubber due to cost-effectiveness along with increasing usage in personal care and oral care products is fueling the market growth. Additionally, the rising automotive industry across developing regions of Asia Pacific is further driving the demand. Leading producers are expanding their operations in developing economies like India and China to leverage growth opportunities.
Market Key Trends
One of the recent trends gaining traction in the Precipitated Silica Market Demand is the adoption of continuous processing technology which has higher purity levels and low carbon footprint compared to batch processing. This innovation is helping manufacturers scale up production and meet the surging demand from end-use industries in an environment-friendly and cost-efficient manner. The continuous process involves introducing raw materials in a controlled manner allowing for uniform quality and better consistency.
Porter’s Analysis
Threat of new entrants: Low capital requirement and lack of economies of scale allows new players to enter the market easily. However, existing players have strong brand presence and ties with end-use industries.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and bulk buying. However, compliance with stringent quality and application requirement favors existing suppliers.
Bargaining power of suppliers: Power of suppliers is moderate as raw materials for Precipitated Silica Market production are widely available. However, suppliers may negotiate on prices due to consolidated nature of industry.
Threat of new substitutes: Silica gel and rice hull ash are potential substitutes. However, precipitated silica has established applications and performance advantage over substitutes.
Competitive rivalry: Intense due to large number of global and regional players competing on basis of product quality, consistency and pricing.
Geographical Regions
North America accounts for the largest share in terms of value due to massive demand from tire, personal care, and food industries in the region. Growing automotive and rubber industries are driving growth.
Asia Pacific is the fastest growing region for precipitated silica market due to expanding rubbers, coatings, and plastics industries in China, India, and other Asian countries. Rising per capita income, growing middle class, and improving living standards augur well for regional growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
