PRECIPITATED SILICA MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The global precipitated silica market is facing challenges such as volatility in raw material prices and environmental regulations around the globe. Factors like fluctuating prices of key raw materials like rice hulls and isopropanol, which are used in the manufacturing of precipitated silica are affecting the costs and profitability of manufacturers. Various environment protection agencies have established stringent standards on the use of precipitated silica in industries such as rubber and agriculture in order to reduce pollution.
Market Opportunities: Increasing demand from rising economies
The market presents opportunities stemming from the growing demand of precipitated silica in industries such as tires, plant nutrition, animal feed, oral care, and food. Rising demand from the tire industry due to precipitated silica's widespread usage in manufacturing radial tires is creating room for growth. Increasing demand from emerging economies also offers scope for expanding geographical footprints.
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