APAC Precipitated Silica Market 2021 – Market Predicted to Grow at High CAGR, Complete Business Overview, Current Trends and Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for APAC Precipitated Silica Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for APAC Precipitated Silica Market products.

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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.

APAC Precipitated Silica Market Analysis 2018-2027

The APAC Precipitated Silica is predicted to grow with a robust CAGR during the forecast period. Some of the significant factors that are anticipated to drive the market are the growing investments from the multinational companies in several nations worldwide to develop production facilities that can promote the production growth, backed by the rising need for chemicals from several end-user industries for different end-use purposes. According to the statistical report titled “Global Chemicals Outlook II”, published by the United Nations Environment Programme, the global chemical industry’s production capacity almost doubled to reach 2.3 billion tonnes in the year 2017 from 1.2 billion tonnes in the year 2000. Moreover, increasing spending on research and innovation (R&I) for the development of advanced chemicals is also anticipated to drive the growth of the market over the forecast period.

Precipitated silica is a synthetically derived amorphous silicon dioxide. It is obtained from quartz sand, which is a crystalline form of silicon dioxide. It is used in numerous applications ranging from tire manufacturing and industrial rubbers to paints & coatings and adhesives & sealants.
In 2019, the Asia Pacific precipitated silica market accounted for a market value of around USD 900 million and is expected to grow at a CAGR of 10.3%, over the forecast period of 2021-2027.

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Owing to the growing application of precipitated silica in various end-use industries, such as the rubber & tire, coatings & construction, food & beverage industries, the precipitated silica market is expected to increase considerably. In addition, rapid industrialization and urbanization with growing income of the consumers are also expected to drive the market growth. The global demand for precipitated silica is further expected to increase over the forecast period owing to the technological innovation concerning the formulation of advanced precipitated silica for high-performance in end-use applications.

The global precipitated silica market is segmented by application and by end user. The market is further segmented by application into tires, footwears, silicon rubber, food & feed, coatings, paints & inks, adhesives & sealants, battery separators, synthetic paper and others, out of which, the tire segment is anticipated to grow at a CAGR of around 10% and reach around USD 600 million by the end of 2027. The growth of this segment is mainly on account of the growth in automotive sector backed by the increasing production and sale. Precipitated silica is used in combination with carbon black in tire formulations. In order to increase tear resistance, tensile strength, cut growth and adhesion properties, precipitated silica is often used as a primary filler in tires. Currently, to increase their performance, all global tire manufacturers are concentrating on increasing the silica content in tires. Additionally, precipitated silica is considered highly secure on account of its better wet grip property. This factor is further anticipated to increase the application of precipitated silica in the making of tires, which in turn is anticipated to fuel the market growth during the forecast period.

On the end user category, the market is segmented into automobile, food & beverage industry, personal care, agriculture, electronics and others, out of which, the automobile segment is estimated to account for around USD 300 million by the end of 2020. In the automotive industry, precipitated silica is mainly used in the manufacturing of automotive tire. It is often used to increase the grip of tire while reducing their rolling resistance at the same time. In addition, it is often used in tires of heavy vehicle to strengthen their tear resistance. Increasing demand for motor vehicles in countries such as China, India and Japan, is anticipated to positively influence the market growth. The swiftly growing automotive sector in Asia Pacific has further created a wide range of opportunities for the new entrants in the precipitated silica market.

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Some of the affluent leaders in the APAC Precipitated Silica Market are Tata Chemicals Limited, Anten Chemical Co. Ltd., Jinsha Precipitated Silica Manufacturing Co., Ltd., Brisil, Shanxi Tond Chemical Co., Ltd., Dalian Fuchang Chemical Co., Ltd., PPG Industries Inc., EVONIK, Solvay and others.

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