Silica Sand Market Size 2023 And Strategic Assessment – Among Top Players |
The global silica sand market size is set to gain expansion in the construction industry due to its higher grade properties. Growing demand in the construction industry of transpiring economies. Countries like India and China are their construction industry is expanding and it is driving the demand for silica sand. Fortune Business Insights™ mentioned this in a report titled, “Silica Sand Market, 2023-2030”.
Silica sand (SiO2; silicon dioxide) is a finely crushed quartz. Also known as industrial sand, is not a regular sand, has at least 95% SiO2 and less than 0.6% iron oxide. It is used in making concrete which is widely used in the construction industry. Emerging technologies like elevating use of hybrid guide plates, solar power glazing in vehicle and construction glasses, advanced nanotechnology, and lightweight glazing glass make use of silica sand. When compared to regular sand it has a high melting point, toughness, and inert chemical nature.
COVID-19 Impact: Private Projects to Act as recovery for Silica Market
COVID-19 hit the global economy hard and each and every industry, including the manufacturing sector. In 2020, the glass market saw recovery. The new private home projects were up when compared to 2019 as said by U.S. Census Bureau and the rise is expected to continue in the future. Disruption in supply chains affected distribution of silica sand. The aforementioned factors have led to decreasing demand for silica sand and other construction materials.
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Based on the end-use industry, the market is divided into construction, glass manufacturing, foundry, chemical production, oil & gas, paints & coatings, filtration, ceramics & refractories, glass manufacturing, and others.
Geographically, the market is divided in North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
This research insight on this market shows a brief analysis of the existing firms that can affect the forecast period. It offers an authentic analysis by examining all the key factors of the market that is opportunities, segmentation, size, growth, trends, restraints, etc. The analysis is subject to change as the market and its key players change.
Drivers & Restraints
Growth in construction industry to favour Silica Sand Demand
The growing demand of this product in the construction industry, sales, technological advancements and automotive will expand this market. Another driver for silica sand market growth is the arousal in the usage of shale gas by reducing the dependency on the crude oil. Shale gas is extracted using a hydraulic fracturing process, where silica is used as a proppant. The construction of various infrastructural projects increasing the demand of silica sand for the construction.
On the other hand, environmental concerns while mining and dredging. It may experience resistance which may lead to product demand hampering.
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High Silica Sand Usage as Raw Material Credits to High Growth in Asia Pacific
On the basis of geographic region silica sand, in North America, U.S. is expected to broaden hydraulic fracturing in which silica sand is used as proppant.
Along with that, Asia Pacific is also likely to witness a high growth crediting to the construction industry where silica sand is used as a building material leading to increase in silica sand market share. In Asia Pacific, India and China are the major countries in the glass making industry where silica is used as a major raw material.
Europe is also expected to grow because of the steady demand of special products by the glass industry.
On the other hand, Latin America and Middle East & Africa may exhibit a static growth during the forecast period.
- January 2019: U.S Silica Holdings announced that they have acquired a former ceramic proppant plant in Millen, Georgia. This former plant will be turned into a production facility for the Industrial and Specialties Products (ISP) for the company.
- April 2019: Sibelco, one of the key players of this market showed solid growth in revenue in their first quarter. This acted as the company’s rebound from the COVID-19 pandemic.
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