Automobile is the fastest-growing end-use industry segment of the global precipitated silica market

The global Precipitated Silica Market is projected to reach USD 2.23 Billion by 2021, at a CAGR of 9.1% from 2016 to 2021. High demand for precipitated silica from the tire and rubber products industry is expected to drive the growth of the market in near future.

Browse 127 market data Tables and 39 Figures spread through 163 Pages and in-depth TOC on "Precipitated Silica Market”.

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Automobile is the fastest-growing end-use industry segment of the global precipitated silica market 
Automobile end-use industry segment contributed the largest share to the precipitated silica market, by end-use industry in 2015, and is projected to be the fastest-growing end-use industry segment from 2016 to 2021.

This growth can be mainly attributed to the increased demand of precipitated silica from the automotive tire industry, as precipitated silica provides enhanced properties to the tire such as reduced rolling resistance, increased traction, and high wear resistance.Evonik Industries AG is one of the leading manufacturers of precipitated silica, globally. The company is focused on maintaining its position in the precipitated silica and specialty silica markets through strategies such as new product expansions and developments.

For example, Evonik Industries expanded its precipitated silica production in Japan, by opening a new production facility for surface modified AEROSIL in Yokkaichi. This expansion will benefit its customers with better product availability and shorter lead times for the product supply. This launch also helped the company to expand its product line and provide operational, cost, and environmental efficiencies to its customers.

PPG Industries Inc., is another key player in the precipitated silica market and has presence in several regions across the globe. PPG Industries, Inc. offers economical as well as environment-friendly and cost-efficient products and services to help customers in meeting environmental standards.

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Companies operating in the global precipitated silica market include Evonik Industries AG (Germany), PPG Industries Inc. (U.S.), W.R. Grace & Co. (U.S.), Tosoh Silica Corporation (Japan), Solvay SA (Belgium), Huber Engineered Materials (U.S.), and Oriental Silica Corporation (Taiwan), among others.

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