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This press release was originally distributed by SBWire
Albany, NY – (SBWIRE) – 28/11/2018 – The low price sensitivity characterizing the global market temperament of precipitated silica, the main players compete on the basis of product differentiation, says a new report from Transparency Research Market Research (TMR). However, with the revision of the emission standards, the rivalry between these players should remain moderate in the near future. In 2014, the four main participants, namely Evonik Industries AG, PPG Industries Inc., Solvay and Oriental Silicas Corp., held approximately 57% of the total market. The research study indicates that in the coming years, leading suppliers of precipitated silica will engage in strategic partnerships in order to enhance their product portfolios and extend their reach in various regions.
Read the summary of the report @
https://www.transparencymarketresearch.com/precipitated-silica-market.html
According to TMR estimates, the world market for precipitated silica was worth US $ 2.22 billion in 2015. While the average annual growth rate (CAGR) was 5.50% over the period 2015-2023, this market is expected to increase to US $ 3.48 billion at the end. the forecast period. Rubber, agrochemicals and personal care products have emerged as the main fields of application for precipitated silica worldwide. Of these, the rubber segment has been the main contributor to this market and this scenario is likely to remain so in the years to come, the market report indicates.
The Asia-Pacific will maintain its dominance in the global market for precipitated silica
With regard to the regional distribution of the global precipitated silica market, the Asia-Pacific region has become the leading region and is expected to maintain its position until 2023, thanks to the strong growth of the industry. automobile, especially tires. At the end of the forecast period, the Asia-Pacific region is expected to account for 52.5% of total revenue generated in the global market. China has become the leading manufacturer and consumer of precipitated silica in this region with a significantly higher tire production.
Among other regional markets, North America is expected to become second in terms of precipitated silica consumption in the near future due to the continued expansion of the automotive and automotive sectors in this region. With the growing demand for precipitated silica in the rubber and personal care industries, Europe will closely follow North America in the near future, notes the study.
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https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3126
Growing demand for energy-efficient products in the automotive industry boosts market growth
"The main factor behind the growth of the global market for precipitated silica is the growing demand for energy-efficient products in the automotive industry," said a TMR badyst. The deterioration in air quality has forced car manufacturers to focus on alternatives, which could help reduce the level of vehicle emissions. Since tires filled with precipitated silica allow the vehicle to move quickly, thus reducing fuel consumption, its demand increases considerably. In addition, the growth of the toothpaste industry is propelling this market considerably around the world, says the research report.
The review is based on a report by Transparency Market Research (TMR) entitled "Precipitated Silica Market (Application – Rubber, Personal Care and Agrochemicals) – Overall Sector Analysis, Size, Share, Growth, Trends and Forecasts 2015-2023 ".
For more information on this press release, visit: http://www.sbwire.com/press-releases/precipitated-silica-market-research-demand-and-competitive-badysis-by-2023-tmr -1093484.htm
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