North America Specialty Silica Market: Introduction
In terms of value, the specialty silica market in North America is anticipated to expand at a CAGR of ~5% from 2020 to 2030 and cross value of ~US$ 3 Bn by 2030. The U.S. is likely to be a key country of the specialty silica market in North America between 2020 and 2030, in terms of demand. The rubber industry is projected to offer lucrative opportunities for the specialty silica market in North America in the near future.
North America Specialty Silica Market: Major Drivers and Restraints
Specialty silica is being aggressively adopted by tire manufacturers as a reinforcement filler. It offers high reinforcing ability and improves fuel efficiency. Rise in the demand for green tires is anticipated to boost the specialty silica market during the forecast period, as the tire industry accounts for a majority of the consumption of specialty silica. The increase in adoption of electric vehicles across the world in order to curb air pollution has propelled the demand for tires.
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This is driving the specialty silica market. Several players have adopted strategic initiatives to increase their production capacity for specialty silica, owing to high demand for specialty silica for use in various industrial applications.
This factor is also expected to boost the specialty silica market in North America during the forecast period. For instance, in November 2016, Wacker Chemie AG announced establishment of a new pyrogenic silica plant in Tennessee, the U.S., with the capital expenditure of US$ 150 Mn. The new facility has the annual production capacity of 13,000 metric tons of pyrogenic silica. The added capacity is estimated to help Wacker Chemie AG meet the rising demand for specialty silica.
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Specialty silica is employed in paper and pulp mills for retention and drainage aid systems. However, the demand for specialty silica is anticipated to decline in the near future, due to sluggish growth of the paper & pulp industry. The annual production of paper in North America stood at 107,406 metric tons in 2000.
However, it declined to 82,984 metric tons in 2015, a drop of 22% from 2000 to 2015. This factor is expected to restrain the specialty silica market in North America during the forecast period.
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North America Specialty Silica Market: Prominent Segments
In terms of value, the precipitated silica segment held a major share of the specialty silica market in North America in 2019. This trend is anticipated to continue during the forecast period, due to considerable usage of precipitated silica in rubber and tire industries in the region. Among applications, the leather finishing segment constituted a significant i.e. more than 38% share of the specialty silica market in North America in 2019. This trend is estimated to continue throughout the forecast period. On the other hand, crop protection & animal feed is projected to be the most rapidly expanding segment of the market in the region during the forecast period.
Competition Landscape
Major manufacturers of specialty silica in North America include Tokuyama Corporation, Nouryon, PPG Industries, Inc., Evonik Industries AG, Wacker Chemie AG, W. R. Grace & Co, and Solvay S.A. Imposition of stringent environmental regulation on the usage of specialty silica acts as a significant barrier for new players entering the specialty silica market in North America.
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