- Automotive industry major end user of high dispersible silica market, companies augmenting production capability of micropearls to lap up demand for environmentally friendly tires
- Utilization in making industrial rubber products to add growth momentum, high dispersible silica market to reach worth of ~US$ 1.8 Bn by 2027-end
ALBANY, N.Y., Dec. 17, 2020 /PRNewswire/ -- High dispersible agents are used extensively in wide range of reinforcement applications in tire industry and industrial rubber industry. They are commonly used in conjunction with silane coupling agents. Their demand has risen steadily as they form a key part of improving the performance of tires, thus the strides made in sales of automotive is a key driver for growth in the high dispersible silica market.
By 2027-end, the high dispersible silica market is expected to reach worth of ~US$ 1.8 Bn. Analyst at TMR concur that the evolving regulations pertaining to the automotive industry will influence the dynamics of the high dispersible silica market during the forecast period. The demand for these will soar to fulfil the demand for green tires for the automotive industry, they add.
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Key Findings of High Dispersible Silica Market Report
- The global high dispersible silica market witnesses high degree of competition
- Among the various key forms, micropearl held the leading market share in 2018
- Of the key application segments in the high dispersible silica market, tire industry held the major share in 2018
- Opportunity in Asia Pacific expected to rise at rapid pace during forecast period
- North America held the dominant market share regionally in 2018
- Europe is also a highly lucrative regional market
- In 2018, the global worth of the market was ~US$ 826 Mn
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High Dispersible Silica Market: Key Driving Factors and Promising Avenues
- The demand for high-dispersible silica market in the tire industry has added a robust and steady momentum to the expansion of avenues in the market. The demand for reducing the energy consumed by tires is a key aspect in reducing the carbon footprint of automotive. For instance, high-performance tires has reduced rolling resistance.
- In particular, the market has seen a new avenue in the role of high dispersible silica in making green tires. The manufacturing of these tires has been stirred by focus of automakers, including original equipment manufacturers, to meet the latest regulations in the automotive sector.
- Growing use of rubber products in various industries has indirectly propelled the prospects in the high dispersible silica market.
- Rise in research and developments activities carried out by the tire industry for reinforcement applications has also been boosting the market prospects.
- Advances in the chemistries in the precipitation of silica has also expanded the application avenue in the high dispersible silica market.
- In the transportation sector, past few years have seen efforts in developing sustainable mobility intensifying. This has spurred the demand for high-performance tires for vehicles, thereby bolstering the demand in the market.
- Companies in the high dispersible silica market are keen on expanding their production capacities to meet the rise in demand coming from the tire and rubber industries.
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Key Impediments to High Dispersible Silica Market Stakeholders
Green tires are still not very popular, and in cost-sensitive markets, the awareness about the benefits is quite low. This has hampered the revenue in the high dispersible silica market. Also, energy-efficient tires have also seen low uptake in developing nations.
Nevertheless, the role of green tires in the transportation sector is being gradually appreciated in several nations around the world. Players are also looking for low-cost and sustainable supply of raw materials so that they can reduce the final cost of high-dispersible silica for the tire industry. In this regard, rice husk ash (RHA) is showing huge promise to producers of the silica. They are abundantly available and offer high yield, making them attractive for market players.
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High Dispersible Silica Market: Regional Landscape
Regionally, North America held the major share in 2018. The focus of policymakers and automotive industry stakeholders to reduce tire-related crashes has spurred the prospects of the regional market. Europe is also a lucrative regional market. Also, the demand for high dispersible silica in Europe has risen substantially to meet the latest tire labelling regulations. The demand for reducing carbon footprint of the transportation sector has cemented the revenue potential of these regional markets over the years.
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