One of the key trends shaping the environmental silica market is the increasing preference for sustainable and eco-friendly sourcing practices.
The global Environmental Silica Market is estimated to be valued at US$ 2.45 Bn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Environmental silica refers to filtered and processed natural sand and gravel for industrial applications. Silica sand mining offers an environment-friendly and sustainable solution for various construction and industrial needs. The rising focus on reducing carbon footprint is driving greater demand for sustainable and environmentally compliant silica sources.
Market Overview:
Environmental silica finds wide application in hydraulic fracturing, glassmaking, filtration manufacturing, and foundry casting due to its high purity levels and customizability. It provides an affordable yet durable solution for various construction materials and industrial processes. The growing infrastructure development and manufacturing activity is propelling steady gains in the environmental silica market.
Market key trends:
One of the key trends shaping the environmental silica market is the increasing preference for sustainable and eco-friendly sourcing practices. Silica sand mining and processing companies are investing in carbon reduction initiatives and utilizing renewable energy to minimize environmental footprint. Furthermore, industry players are developing advanced resource extraction techniques using digital management systems to boost yield and maximize land reclamation. The evolving regulatory scenario surrounding land use and reclamation is also driving innovation in sustainable mining practices.
Segment Analysis
The global environmental silica market is segmented on the basis of type into raw and processed silica. The processed silica segment dominates the market and accounts for around 65% share of the total market. Processed silica finds wide application in glass making, chemical manufacturing, construction, paints and coatings and other end-use industries owing to its finely ground particles and specialized physicochemical properties.
Key Takeaways
The Global Environmental Silica Market Size is expected to witness high growth, exhibiting CAGR of 9.8% over the forecast period, due to increasing demand from glass making and chemical industries.
Regional analysis
Asia Pacific dominates the global environmental silica market and is expected to maintain its dominance over the forecast period. This is attributed to large glass production and increasing glass consumption for automotive, construction and solar panel manufacturing in China, India and other Asian countries. North America and Europe are other major markets for environmental silica globally.
Key players
Key players operating in the environmental silica market are U.S. Silica Holdings Inc., Sibelco Group, Fairmount Santrol Holdings Inc., Emerge Energy Services LP, Badger Mining Corporation, Covia Holdings Corporation, Preferred Sands LLC, Hi-Crush Partners LP, SCR-Sibelco N.V., Pattison Sand Company. U.S. Silica Holdings Inc. and Sibelco Group capture around 30% of the global environmental silica market share owing to their large production capacities and global presence.
Read More: https://www.ukwebwire.com/environmental-silica-market-size-share-and-growth-forecast-2023-2023/
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