Green Silica Market Size, Growth rate, CAGR 7.4% Future Analysis with 2031

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Green Silica Market: Introduction

Transparency Market Research delivers key insights on the global green silica market. In terms of revenue, the global green silica market is estimated to expand at a CAGR of 7.4% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global green silica market.

The global green silica market is broadly affected by several factors, including increase in usage of silica in various end-use industries such as automotive, paints & coatings, plastic & packaging, food & beverages, and personal care & cosmetics. Rise in environmental concerns; implementation of stringent government regulations; and increase in adoption of greener substitutes are expected to be the primary drivers of the global green silica market.

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Green Silica Market: Dynamics

Countries across the globe are taking significant steps to move the current fossil-based economy to a more sustainable bio-based economy, owing to increase in global warming and threats regarding environmental issues. The shift to a bio-based economy is expected to result in an environmentally, economically, and socially sustainable global economy.

Green silica, a substitute to conventional silica, is produced by using various sources that include rice husk ash, sugarcane bagasse ash, and bamboo leaf. Rice husk ash is a key raw material that provides distinct properties to silica, resulting in better performance of products. Rice husk is produced after the milling of rice. It contains approximately 80%–90% of silica. The rate of recovery of silica from rice husk ash is 90%–95% if the conversion efficiency is more than 70%. Thus, rice husk ash is one of the economical feedstock that can be used for silica production.

The development of bio-based products is the new trend in the market. These materials are likely to address environmental issues associated with the chemical industry. This is projected to drive the green silica market.

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Green Silica Market: Prominent Regions

Asia Pacific holds major share of the global green silica market. The market in the region is anticipated to expand at a CAGR of more than 8.1% during the forecast period. Increase in demand for green silica in various end-use industries such as automotive tire production, industrial rubber, cosmetics & personal care, and paints & coatings in Asia Pacific is driving the green silica market in the region. China is a key country in the Asia Pacific green silica market. It held a significant share of the green silica market in Asia Pacific in 2020. The country is estimated to maintain its dominant position in the region during the forecast period.

Europe also held large share of the global green silica market in 2020. Germany led the green silica market in Europe in 2020. The expansion of the automotive industry in Germany is driving the green silica market in the region.

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Green Silica Market: Major Players

The global green silica market is consolidated, with the presence of key players. Prominent players operating in the global green silica market include Brisil, ORYZASIL, Novosilgreen, Green Silica Group, BSB Nanotechnology Joint Stock Company, Amyris, Inc, Usher Agro Limited, Refratechnik, Agrilectric Power, and Wadham Energy Limited Partnership.

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