Latin America Specialty Silica Market Size & Outlook
Latin America specialty silica market, 2016-2027 (US$M)
Related Markets
Latin America specialty silica market highlights
- The Latin America specialty silica market generated a revenue of USD 899.9 million in 2019.
- The market is expected to grow at a CAGR of 5.4% from 2020 to 2027.
- In terms of segment, precipitated silica was the largest revenue generating product in 2019.
- Fused Silica is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2020 to 2027.
Latin America data book summary
| Market revenue in 2019 | USD 899.9 million |
| Market revenue in 2027 | USD 1,368.8 million |
| Growth rate | 5.4% (CAGR from 2019 to 2027) |
| Largest segment | Precipitated silica |
| Fastest growing segment | Fused Silica |
| Historical data covered | 2016 - 2018 |
| Base year for estimation | 2019 |
| Forecast period covered | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Precipitated Silica, Fumed Silica, Fused Silica, Silica Gel, Colloidal Silica |
| Key market players worldwide | Elkem ASA Ordinary Shares, Evonik Industries AG, Nouryon, PPG Industries Inc, Tosoh Corp, Wacker Chemie AG |
Other key industry trends
- In terms of revenue, Latin America region accounted for 14.6% of the global specialty silica market in 2019.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2027.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 4,276.2 million by 2027.
Precipitated silica was the largest segment with a revenue share of 36.62% in 2019. Horizon Databook has segmented the Latin America specialty silica market based on precipitated silica, fumed silica, fused silica, silica gel, colloidal silica covering the revenue growth of each sub-segment from 2016 to 2027.
Significant new investments in housing and public works are expected to improve infrastructure growth in Colombia, which, in turn, is likely to augment demand over the next seven years. Increasing number of construction companies in Chile and Peru is expected to create growth potential for the paints & coatings industry over the forecast period.
Significantly growing automotive industry is expected to drive the demand for specialty silica over the forecast period owing to the advanced properties it provides to rubber tires. Rising health concerns among consumers are likely to augment the demand for specialty silica in the food application segment.
Latin America has emerged as one of the worst-affected regions by the COVID-19 outbreak. The pandemic has brought multiple economies on the brink of recession and is expected to hamper consumer spending as well across this region in the near future, affecting the product demand over the forecast period.
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Specialty Silica Market Scope
Specialty Silica Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America specialty silica market size, by country, 2016-2027 (US$M)
Latin America Specialty Silica Market Outlook Share, 2019 & 2027 (US$M)
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