Increased Investments to Boost the Growth of Specialty Silica Market
The Specialty Silica Market was valued at US$4587.108 million in 2022 and is expected to grow at a CAGR of 9.07% to reach a market size of US$8,422.122 million in 2029.
Specialty silica helps reduce carbon emissions and is often used in the production of tyres. Additionally, specialty silica has numerous uses in the fields of personal care, paints and coatings, cosmetics, and electronic components. The growing use of specialty silica in chemical mechanical polishing in the electronics industry is driving the market’s expansion. Due to the expansion of end-use industries like the rubber and plastics industries, the demand for specialty silica has increased over the past few years and is predicted to continue in the coming years. The tyre industry is likely to benefit from a large increase in the manufacturing of electric vehicles (EVs), which is anticipated to have a favorable impact on demand for specialty silica.
Evonik Resource Efficiency GmbH, Clariant, BASF SE, Speciality Silica Private Ltd., Cabot Corporation, Akzo Nobel N.V., Wacker Chemie AG., Standard Industries Holdings Inc, PPG Industries, Inc., Ecolab and others are a few key major players in the market for Specialty silica.
Evonik Resource Efficiency GmbH is a leading supplier of cutting-edge products that help consumers find energy-and resource-saving solutions. These include industrial uses for wind turbines; lightweight buildings; energy-efficient tyres; and high-performance lubricants. The company is a wholly held subsidiary of Evonik Industries and has its headquarters in Germany. Resource Efficiency’s capabilities also include innovative 3D printing materials and procedures. It is also a well-known manufacturer of laser sintering powders. Evonik announced its plans to increase its fumed silica production capacity in Antwerp in January 2019. The investment is reported to fit well with its plan to gradually build a more balanced portfolio and focus more on different specialty chemicals businesses. Aerosil Fumed Silica and Sipernat Specialty Silica are two prominent products offered by Evonik. Specialty silica Sipernat transforms additives or actives into free-flowing powders from their typical liquid or pasty state. Aerosil fumed silica, in contrast, functions as a rheology modifier for liquid chemical applications.
Cabot Corporation is a supplier of speciality chemicals and performance materials. Inkjet colourants, aerogel, cesium formate drilling fluids, specialised compounds, fumed metal oxides, fine cesium chemicals, and activated carbon are among its product offerings. It also sells rubber and specialty-grade carbon black. The business sells its products to a range of customers, including tyre manufacturers, utilities that burn coal, processors of food and drink, water treatment facilities, pharmaceutical firms, and manufacturers of catalysts. Cabot Corporation announced the development of a new facility for specialised compounds in Cilegon, Indonesia, in February 2022. The increased capacity will provide regional supply to meet the rising demand for specialised compounds in Southeast Asia and globally. The specialty silica product range includes hydrophobic, hydrophilic, distributors, fumed Silica & alumina dispersions and colloidal & composite silicas.
BASF SE has subsidiaries and partnerships in more than 80 nations, and it runs 390 additional production sites throughout Europe, Australia, America, Asia, and Africa, in addition to six integrated production facilities. The company manufactures and markets compounds used in fuel additives, food additives, paints, adhesives, surfactants, pigments, herbicides, and fungicides, as well as electronic chemicals. In April 2019, BASF made an investment to modernise its silica plant at the Düsseldorf-Holthausen location. The investment is intended for the modernization and enhancement of current facilities. This investment is anticipated to address the increasing demand for silicates and to strengthen its market dominance in Western European markets. The rubber chemicals portfolio of BASF includes Koresin, which is used in the production of high-quality and premium tyres for OEM, replacement, and retreading as well as for technical and industrial rubber goods.
Nouryon’s (Akzo Nobel N.V.) diverse product line includes surfactants, expandable microspheres, organic peroxides, bleaching agents, and cellulosics. Around 7,650 Nouryon employees work across the globe to deliver vital solutions that clients utilise to produce goods used in daily life, including personal care, paints and coatings, cleaning, agriculture and food, pharmaceuticals, and building materials. 2018 marked the relaunch of Nouryon, formerly known as AkzoNobel Specialty Chemicals. In April 2019, Nouryon expanded its Bohus location in Sweden’s production capacity for surface-modified colloidal silica. The €4 million expansion mainly increases production capacity for the company’s Levasil CC product line.
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