Silica Sand Market Size to Grow at a CAGR in the Forecast Period
The ‘Global Silica Sand Market Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global silica sand market, assessing the market on the basis of its segments like applications and major regions.
Silica Sand Market Size, Share, Price Trends, Industry Report, Key Players, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 3.20%
Silica sand is the main structural element in a wide range of building and construction materials. In flooring compounds, stucco, mortars, roofing shingles, speciality cements, skid-resistant surfaces, and asphalt mixtures, silica sand serves as a binding agent.
Additionally, silica sand is a crucial component in the production of glass. The glass business is expanding significantly as a result of rising consumer demand in the construction sector, increasing automotive production and sales, growing per-capita income, and technical advancements, surging the demand for silica sand. Developments like the growing application of lightweight glazing and solar control glazing for the construction and automotive glass industries, and advanced flat glass nanotechnologies all support the growth of the glass industry, which in turn drives the silica sand market.
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Silica sand is also used during hydraulic drilling to produce shale gas. Silica sand is utilised as a proppant during the hydraulic fracturing process, which is used to extract shale gas. The preference for natural shale gas among nations around the world, which is driven by a purpose to minimise their dependency on crude oil, is anticipated to promote the silica sand market expansion over the forecast period. Silica sand demand would likely increase as shale gas output rises.
Silica Sand Industry Definition and Major Segments
The most prevalent type of sand in the world is silica sand, also referred to as industrial sand. The major constituents are silica or silicon dioxide and common contaminants like metal oxides and lime. Due to its high silica concentration, high strength, and non-reactive qualities, it is an essential component in the manufacture of countless common items.
Based on application, the market can be divided into:
• Glass Industry
• Hydraulic Fracturing
• Chemical Production
On the basis of region, the market can be segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Silica Sand Market Trends
The glass industry’s rising need for silica sand is fostering the silica sand market expansion. Items including flat glass, fibreglass insulation, specialised glass, container glass, and others are increasing in demand. Flat glass is often used in automotive and construction applications, whereas container glass is used in the food, beverage, and tableware industries. Glass in also used in the production of solar panels. As a result of silica sand being a necessary component in the production of glass, it is projected that the increased emphasis by various governments on the deployment of solar panels will increase the demand for silica sand.
The increased demand for silica sand in the water treatment and filtration process is also predicted to help silica sand market growth in the following years, along with the rising consumer demand for water filtration solutions. The Asia Pacific region is expected to account for a significant share of the global market for silica sand. This is connected to the increased amount of money that governments in the region are spending on regional infrastructure development projects as a result of the population growth in nations like China and India. To improve the structural integrity of buildings, whole grain silica sand is used in the creation of flooring, cement mixtures, and asphalt cement combinations.
Key Market Players
The major players in the global silica sand market report are SCR-Sibelco N.V., Mitsubishi Corporation, U.S. Silica, Chongqing Changjiang River Moulding Material (Group) Co., Ltd., Quarzwerke GmbH, JFE Mineral Company, Ltd., and Hi-Crush Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.