Increasing demand for energy efficient products in automotive industry is major factor expected to drive growth of the global market over the forecast period.
The global precipitated silica market report has been segmented on the basis of end-use industry, application, and region.
On the basis of end-use industry, the global precipitated silica market has been segmented into automobile, cosmetics, electronics, and agriculture. The automobile segment is estimated to account for significant share in terms of revenue in the global precipitated silica market. This can be attributed to the increased demand of precipitated silica from automotive tire industry, as precipitated silica offer enhanced properties to tire such as increased traction, reduced rolling resistance, and high wear resistance. The reversible segment revenue is also anticipated to register highest CAGR over the forecast.
On the basis of application, the global precipitated silica market has been segmented into personal care, rubber, food, fishing boats, adhesives & sealants, and coating & inks. The rubber segment is estimated to account for major share in the global precipitated silica market in terms of revenue, owing to increasing demand for precipitated silica from rubber industries, as it acts as reinforcing filler and increases durability and strength of rubber.
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On the basis of region, the global precipitated silica market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia Pacific market is expected to dominate with major revenue share in the global precipitated silica market in 2017. Asia Pacific market is anticipated to register highest CAGR in terms of revenue in next ten years, owing to increasing demand from automobile, cosmetics, and coating industry in countries in this region.
Key players operating in the global market include PPG Industries, Inc., Tosoh Silica Corporation, Evonik Industries AG, Madhu Silica Pvt. Ltd., W.R. Grace & Co., Anten Chemical Co., Ltd., Solvay SA, Huber Engineered Materials, Oriental Silicas Corporation, and PQ Corporation.