Green Silica Market to Reach USD 444.9 Million by 2030; Surging Demand for Bio-based/Sustainable Products to Proliferate Market Growth

The global green silica market size was valued at USD 297.0 million in 2022. The industry is expected to expand from USD 262.3 million in 2023 to USD 444.9 million by 2030, exhibiting a CAGR of 7.8% over the study period.

Green silica refers to the silica type, which is made using environmentally friendly and sustainable methods. The market’s growth can be credited to the growing deployment of the product in tire production. Moreover, in the automotive industry, the uptake of green silica helps reduce carbon footprint.

Fortune Business Insights provides this information in its research report, titled “Green Silica Market Size Report, 2024-2030”.

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List of Key Players Mentioned in the Green Silica Market Report:

• Evonik Industries AG (Germany)
• Brisil (India)
• Green Silica Group (Brazil)
• BSB Nanotechnology Joint Stock Company (Vietnam)
• Ekasil (Thailand)
• Solvay (Belgium)
• Agrilectric Power (S.)
• Usher Agro Ltd. (India)
• Refratechnik (Germany)
• Amyris, Inc. (US)

Green Silica Industry Segmentation:

Usage of Highly Dispersible Silica as Filler to Augment Segment Expansion

In terms of type, the market is bifurcated into easily dispersible silica and highly dispersible silica. The highly dispersible silica segment is poised to depict the largest green silica market share during the forecast period. The deployment of highly dispersible silica as filler to offer better reinforcement owing to its increased dispersibility is fostering the segment growth.

Surging Emphasis of Tire Industry on Sustainability to Impel Segment Growth

With respect to application, the market is classified into paints & coatings, rubber goods, tires, and others. The tires segment captured a significant share of the market in 2022. The growing focus of the tire industry on environmental consciousness and sustainability is bolstering the demand for the product, fueling the segment growth.

From the regional perspective, the market is categorized into the Middle East & Africa, Europe, North America, Asia Pacific, and Latin America.

Green Silica Industry Report Coverage:

The report offers an in-depth analysis of the significant driving and restraining factors affecting the market growth. In addition, it highlights the major industry developments, the top trends, and the impact of the COVID-19 pandemic on the market. The report further provides a comprehensive coverage of the strategic initiatives undertaken by leading companies to stand out from the competition.

Drivers and Restraints:

Rising Demand for Bio-based/Sustainable Products to Boost the Market Growth

One of the major factors propelling the green silica market growth is an increase in the demand for bio-based/sustainable products. Owing to this factor, there is a growing demand for sustainable silica. This can be attributed to the usage of green silica as a key ingredient in several bio-based products such as electronics, pharmaceuticals, and cosmetics.

Despite such growth opportunities, the unawareness about the product makes it less accessible for industrial applications, which impedes the market growth.

Regional Green Silica Insights:

Asia Pacific Registered a Dominant Share Owing to Growing Regulations of Harmful Chemicals

Asia Pacific market captured a dominant share of the market in 2022. The surging regulation of harmful chemicals in industries, including paints & coating and rubber, is driving the regional growth.

North America is poised to account for a significant share during the forecast period owing to growing demand for green tires across Canada and the U.S.

Competitive Landscape:

Market Players Deploy Capacity Expansion Strategies to Enhance Their Position

Ekasil, BSB Nanotechnology Joint Stock Company, Brisil, Evonik Industries AG, Green Silica Group, and Solvay are some of the prominent companies in the market. The market is characterized by strategic mergers and acquisitions and plant expansions.

Key Green Silica Industry Development:

January 2023: Solvay unveiled its decision to invest at its Livorno site in Italy for the release of its first unit of circular highly dispersible silica (HDS).

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