Turkey Silica Market Size & Outlook, 2022-2030
Turkey silica market, 2018-2030 (US$M)
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Turkey silica market highlights
- The Turkey silica market generated a revenue of USD 876.9 million in 2022 and is expected to reach USD 1,465.4 million by 2030.
- The Turkey market is expected to grow at a CAGR of 6.6% from 2023 to 2030.
- In terms of segment, crystalline was the largest revenue generating product in 2022.
- Crystalline is the most lucrative product segment registering the fastest growth during the forecast period.
Silica market data book summary
| Market revenue in 2022 | USD 876.9 million |
| Market revenue in 2030 | USD 1,465.4 million |
| Growth rate | 6.6% (CAGR from 2022 to 2030) |
| Largest segment | Crystalline |
| Fastest growing segment | Crystalline |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Amorphous, Crystalline |
| Key market players worldwide | Akzo Nobel NV, Cabot Corp, Evonik Industries AG, Imerys, Kemira Oyj, Nissan Chemical Corp, PPG Industries Inc, Solvay SA, Tosoh Corp, Wacker Chemie AG |
Other key industry trends
- In terms of revenue, Turkey accounted for 2.3% of the global silica market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany silica market is projected to lead the regional market in terms of revenue in 2030.
- Turkey is the fastest growing regional market in Europe and is projected to reach USD 1,465.4 million by 2030.
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Silica Market Scope
Silica Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Turkey silica market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to silica market will help companies and investors design strategic landscapes.
Crystalline was the largest segment with a revenue share of 71.3% in 2022. Horizon Databook has segmented the Turkey silica market based on amorphous, crystalline covering the revenue growth of each sub-segment from 2018 to 2030.
Silica is used in the production of various industrial and consumer products such as paint, plastics, and rubber. Turkey has a thriving manufacturing industry, which further drives the demand for silica. In 2022, the manufacturing industry’s share of GDP increased to 18.83% in Turkey. The country aimed to boost its manufacturing share of GDP to 21% by 2023, with its Industry and Technology Strategy 2023.
The increasing investment in oil & gas industry is expected to propel the demand for silica over the forecast period. For instance, in April 2022, the Turkish government planned to invest approximately USD 111 million in the construction of a subsea gas facility in the Black Sea. The first phase of the project is expected to start in the second half of 2023.
Furthermore, the government is providing various tax incentives to boost oil & gas exploration and production in the country. For instance, in April 2022, the Turkish government approved the Turkish Petroleum Corporation's (TPAO) investment project for natural gas extraction and awarded USD 9.9 billion in tax relief.
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Our clientele includes a mix of silica market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Turkey silica market , including forecasts for subscribers. This country databook contains high-level insights into Turkey silica market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Turkey silica market size, by product, 2018-2030 (US$M)
Turkey Silica Market Outlook Share, 2022 & 2030 (US$M)
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