Silicates MarketSize and Trends

Asia Pacific, North America, Europe, and Middle East are the largest markets for silicates, with Asia Pacific dominating the global market in terms of market share, revenue, and consumer demand. The region is expected to retain its dominance throughout the forecast period owing to the presence of populated economies such as China and India who are experiencing an increase in gross domestic product, disposable income, and purchase parity. Furthermore, the rapid industrialization and rising demand for construction materials in the region is expected to facilitate the growth of the market.

Silicates Market Key Developments:

In July 2016, a division of J.M. Huber Corporation, invested for the commercial production capacity of its patented Spherilex amorphous precipitated spherical silica and silicate technology at its Hamina, Finland production facility. This investment helped the company in gaining a further growth in terms of the global silicates market.
In December 2016, Evonik Industries AG acquired the silica business of a US based company J. M. Huber. This acquisition is helped the company is expanding its position in North America and Asia. Moreover, this acquisition helped the company is expanding its product portfolio.
On 25^th April 2019, BASF SE invested in the modernization and improvement of its existing silica plant at its Düsseldorf-Holthausen, Germany site. This plant is developed so as to meet the company’s rising demand in case of silicates and thereby strengthen the company’s leadership in the West European silicates markets.