COVID-19 IMPACT ANALYSIS ON THE GLOBAL GREEN SILICA MARKET
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360-degree analysis of micro and macro-economic factors in the global Green Silica market. In addition, complete analysis of changes in the global Green Silica market expenditure, and economic and international policies on the supply and demand side. The report also studies the impact of pandemics on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. This is primarily owing to the supply chain disruptions across the world. The economies of the country have weakened as there is a significant decline in the demand for products. Production in the automotive sector has been limited owing to the pandemic resulting in a shortage of raw materials.
MARKET OVERVIEW - GLOBAL GREEN SILICA MARKET
Green silica is an alternative to conventional silica. Green silica is more environment-friendly, as it needs lesser energy compared to the traditional silica production procedures and uses waste as a base material for silica. Green silica is primarily used in the manufacturing of tires, cosmetics & personal care products, industrial rubber, footwear, food products, and paints & coatings among others. Green silica is produced using the green synthesis method. The green synthesis of silica has been widely discovered over the past few decades, as silica compounds found in commercial products can cause harmful effects on human health. This calls for substitute methods to produce silica that are cheaper, safer, and more environmentally friendly. Some of the agricultural wastes proven to contain silica include sugarcane bagasse, rice husk, coconut husk, bamboo leaves, and coconut shells.
MARKET DRIVERS
The key factor driving the market growth is the rising use of green synthesis approach and increasing application areas of green silica and an increase in demand for green silica in automobile tire production. Silica and silica nanomaterials have various applications in the field of lightweight aggregates, drug/gene delivery, tissue engineering, regenerative medicine, catalytic applications, cancer diagnosis/therapy, and energy storage. There is a growing demand for eco-friendly synthesis of silica nanomaterials and silica with adequate safety, cost-effectiveness, scalability, simplicity, reliability, and manageable particle size distribution features. These materials can be efficiently obtained from numerous agricultural sustainable bio-resources, including sugar cane, rice husk ash, wheat husk, coffee husk, and corn cob ash. Using sustainable and green techniques can cause to reduce or eliminate complicated/laborious procedures and minimize the environmental contaminants to achieve advanced materials for high-tech applications.
MARKET OPPORTUNITIES
The global Green Silica market is expected to grow due to the growing Industrial Rubber Industry. The rapidly growing market for industrial rubbers and surged demand for eco-friendly rubber are boosting the market growth. In industrial rubber application, green silica confers superior durability and strength on industrial rubber belts and rubber hoses together with enhanced tear strength and heat resistance. It also increases adhesion in fabric and wire coat compounds and allows for easy and rapid processing, resulting in smooth finished surfaces in molded products.
MARKET RESTRAINTS
The major restraining factor for the global Green Silica market is the lack of awareness regarding green tires in emerging economies. The customers are well-aware of the advantages of using hybrid and CNG vehicles; however, there is a dearth of awareness concerning the benefits of green tires and the part it plays in minimizing fuel consumption. In developing countries such as Indonesia and India, the general consumer is less focused on the advantages provided by green tires made of green silica. This acts as a considerable restraint for the green silica market in the automotive tire industry. However, increasing government initiatives to increase consumer awareness regarding green tires and bio-based products is likely to overcome this challenge in the coming years.
MARKET GROWTH CHALLENGES
The major growth challenge for the market is the availability of alternatives and sluggish growth in industries like paints and paper may act as restraining factors for the market. Rolling resistance of the tires can be reduced by further enhancing the grip when specialty silica is combined with tire rubbers, hence decreasing the fuel consumption.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the global Green Silica market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With the increasing demand for various Green Silica in various applications has led to the increasing demand for the market and is expected to witness growth at a CAGR at specific CAGR from 2021-2028.
GREEN SILICA MARKET SEGMENTAL OVERVIEW
The global Green Silica market comprises different market segments like type, source, application, and geography.
GREEN SILICA MARKET BY TYPE
By type, the Green Silica includes a key segments of
- Highly Dispersible Silica (HDS)
- Easily Dispersible Silica (EDS)
Highly Dispersible Silica (HDS) is expected to dominate the market over the forecast period. . HDS has a high level of dispensability and can enter into a higher percentage in a formulation. Highly dispersible silica (HDS) are widely used in making green tires since they reduce rolling resistance, save fuel, helps in avoiding accidents due to tire burst, and are very impactful when it comes to greenhouse emission. The popularity of HDS in making tires is increasing among the OEMs since OEMs are moving towards sustainable raw materials for manufacturing their products with increasing environmental concerns.
GREEN SILICA MARKET BY SOURCE
The Green Silica market has a major source in
- Rice Husk Ash
- Sugarcane Bagasse Ash
- Bamboo Leaf
- Corncob
- Others
The Rice husk ash segment has the majority share of the green silica market by source segment. Rice husk ash is an important raw material that imparts distinct properties to silica, resulting in improved product performance. Rice husk is created after the rice is milled. It has a silica content of approximately 80% to 90%. If the conversion efficiency is greater than 70%, the rate of silica recovery from rice husk ash is 90–95 percent.
GREEN SILICA MARKET BY APPLICATION
The Green Silica market has major applications like
- Industrial Rubber
- Tyre
- Paints, Coatings, and Inks
- Food and Beverages
- Oral Care
- Others
Industrial rubber and tire are the major application segments of the green silica market. There is a high demand for green silica from the industrial rubber industry as it acts as a strengthening filler and improves the durability and strength of rubber products. It is primarily used in the production of conveyor belts, hoses, tubes, gaskets & seals, footwear, and many other industrial rubber products.
Furthermore, the major benefits of using green silica in tires are improvement in mileage owing to enhanced rolling resistance, enhanced safety because of superior wet grip, improvement in abrasion resistance reduced greenhouse gas emission, and reduction or replacement in carbon black consumption. Furthermore, the rapid growth of the green tire market is also impelling the market growth.
GREEN SILICA MARKET BY GEOGRAPHY
The global Green Silica market is studied for the following region
- North America
- Europe
- Asia-Pacific
- Rest of the world (RoW)
APAC accounted for the largest share of the global Green Silica market. Asia-Pacific region is considered to be the leading market since this region is a major producer of rice, sugarcane, corn, etc. and the production of bi-products of these crops has also increased which is why there is a huge availability of various sources of green silica. Moreover, the region is a major producer of industrial rubber as well, and with increased production of industrial rubber, the market share of green silica is also increasing. In this region, China is considered to be the major market for green silica, since it is a large producer and consumer of green silica.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the Green Silica market is majorly focused on expanding the global growth of Green Silica with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in Green Silica has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfill the required demand of consumers which is further contributing to healthy growth in the market.
The key players studied in the market are
- Brisil (India)
- Orinasal (Brazil)
- Novosilgreen (Brazil)
- Green Silica Group (Brazil)
- BSB Nanotechnology Joint Stock Company (Vietnam)
- Amyris, Inc (United States)
- Usher Agro Limited (India)
- Refratechnik (Germany)
RECENT DEVELOPMENT:
July 2020: Amyris launched plant-derived sustainable silica for clean beauty applications Amyris, Inc joint venture, the main provider of excessive performance, smooth splendor components is commercializing plant-derived silica crafted from sugarcane ashes. Silica is used broadly in non-public care and cosmetics. It is historically sourced from non-renewable sand dredging, which calls for vast electricity intake and emits huge quantities of C02. The new aspect branded Biosilica may be utilized in foundations, creams, creams, and different packages as a sustainable and higher appearing opportunity to conventional silica.
