[FURL=https://www.industryarc.com/Research/Specialty-Silica-Market-Research-502953?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Specialty Silica Market[/FURL] size is expected to be valued at $9.8 billion by the end of the year 2026 and the specialty silica industry is set to grow at a CAGR of 6.3% during the forecast period from 2021-2026. The increase in the use of specialty silica in the rubber and coatings industry is driving the demand for the specialty silica market. The increase in the production of automobile is also increasing the demand for tires, which is eventually increasing the demand for the specialty silica market.Key Takeaways
Asia-Pacific market held the largest share in the specialty silica market owing to the increase in the growth of the automobile industry in the Asia-Pacific countries like India, China and Japan.
The increase in the demand for rubber from the tire manufacturing industry is hugely driving the specialty silica market.
Specialty silica is also commonly used in adhesives and sealants due to their enhanced property which is also driving the specialty silica market.
Amid the Covid-19 pandemic, the specialty silica market witnessed a decline in the growth in the beginning of the year 2020, but is set to grow in the coming months of the year 2021.
Download Sample Report @ [FURL]www.industryarc.com/pdfdownload.php?id=502953[/FURL]
Specialty Silica Market Segment Analysis – By Geography
Asia-Pacific region held the largest share of 40% in the specialty silica market in the year 2020. The rapid growth in the population in countries like India and China coupled with the increase in the growth of the automobile industry is driving the specialty silica market in the Asia Pacific region. For instance, the Indian auto-components industry was estimated at US $ 49.3 billion in the year 2020. The domestic automobile production in India increased at 6.96% during the year 2019 with a 30.9 million production of automobile. According to the International Trade Administration (ITA), the Chinese government expects the production of automobiles to reach 35 million units by 2025. Furthermore, according to International Trade Administration (ITA), South Korea doubled the number of automobile exports to 50,000 units per year to US from the year 2021 according to KORUS FTA.
Specialty Silica Market Drivers
Increase in the demand from the electrical and electronics industry
Increasing application in adhesives and sealants
Specialty Silica Market Industry Outlook
Major players in the Specialty Silica Market are Master Bond Inc., Permatex, Arkema Group, 3M, Fuji Silysia Chemical, Fuso Chemical Co. Ltd, Glassven C.A, Wacker Chemie AG, Clariant, Evonik Industries, Solvay, Huber Engineered Materials and Cabot Corporation among others.
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.