Silica Sand Market
The global silica sand market size was valued at USD 12.16 billion in 2023 and is projected to grow from USD 13.10 billion in 2024 to USD 23.70 billion by 2032, exhibiting a CAGR of 7.7% during the forecast period. The surge is being driven by the wide array of applications. These comprise toughness, inert chemical nature, high melting point, and others.
Silica sand, also known as industrial sand, is a high-purity form of quartz sand that plays an essential role in a wide range of industries, including glassmaking, construction, foundry, and oil and gas. Its unique physical and chemical properties, such as high silica content, strength, and resistance to heat and chemical reactions, make it a critical material in both traditional and modern applications. As global industrialization and urbanization continue to accelerate, the silica sand market is poised for significant growth.
Fortune Business Insights™ cites this information in its research report, titled “Silica Sand Market, 2024-2032”.
Get A Free Sample Research Report PDF: https://www.fortunebusinessinsights.com/enquiry/sample/silica-sand-market-105302
List of Key Players Mentioned in the Report:
- S. Silica (U.S.)
- Sibelco (Belgium)
- Covia Holdings LLC. (U.S.)
- JFE Mineral & Alloy Company, Ltd. (Japan)
- Quarzwerke GmbH (Germany)
- PUM GROUP (Malaysia)
- Badger Mining Corporation (S.)
- Mitsubishi Corporation (Japan)
- Preferred Sands (S.)
- Aggregate Industries (U.K.)
Market Expansion Impacted on Account of Disruptions in Supply Chain
The coronavirus pandemic resulted in disruptions in the supply chain of numerous countries. These comprised Italy, India, Japan, Germany, China, and Canada. The industry growth was further impacted by a halt on construction projects and the enforcement of strict government regulations. The market also saw difficulties in the supply of raw materials and finished goods.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:
Segments:
Construction Segment to Record Considerable Expansion Driven by Increased Product Usage
Based on end-use industry, the market is subdivided into chemical production, foundry, construction, glass manufacturing, ceramics & refractories, paints & coatings, oil & gas, and others. Of these, the construction segment is anticipated to exhibit substantial growth throughout the study period. The rise is being impelled by the escalating product usage in the manufacturing of mortar and concrete.
On the basis of geography, the market for silica sand is fragmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.
Key Market Drivers
-
Booming Glass Industry: The glass sector is the largest consumer of silica sand, accounting for over half of the total demand. From container glass to flat glass used in construction and automotive industries, silica sand’s role is indispensable. The growth of solar panel manufacturing has further boosted demand for high-purity silica sand.
-
Construction Sector Growth: Silica sand is a key ingredient in the production of concrete, cement, and mortar. Rapid urbanization and infrastructure development, especially in emerging economies, have driven demand for silica sand in construction activities.
-
Hydraulic Fracturing (Fracking): In the oil and gas industry, silica sand is widely used as a proppant in hydraulic fracturing. The surge in shale gas exploration has significantly increased the demand for frac sand, especially in regions like North America.
-
Technological Innovations: Advances in mining and processing techniques have improved the efficiency of silica sand extraction and refinement, ensuring a consistent supply of high-quality material for industrial applications.
Report Coverage:
The report gives an analysis of the key aspects propelling the business landscape across numerous regions. It further delves into the major trends impelling the industry scenario throughout the projected period. Other components of the report include the vital steps taken by major market participants for strengthening their industry position.
Drivers and Restraints:
Industry Value to Rise Driven by Soaring Product Deployment in Glass Production
The silica sand market growth is being driven by the escalating product demand from the glass sector. The industry expansion can be credited to the extreme thermal shock resistance and low coefficient of thermal expansion exhibited by silica sand. These properties help in the prevention of any change in the material on account of sudden changes in temperature.
However, the industry expansion may be hampered owing to a range of health hazards associated with the duration and level of exposure to crystalline silica. Long-term exposure could lead to chronic bronchitis, lung cancer, silicosis, and a range of autoimmune diseases.
Information Source: https://www.fortunebusinessinsights.com/silica-sand-market-105302
Regional Insights:
Asia Pacific to Lead Owing to Increased Product Adoption in Construction Activities
The Asia Pacific silica sand market share is slated to record commendable growth over the forecast period. The rise is being driven by escalating government spending on the development of infrastructure in the region.
The North America market is poised to register substantial expansion throughout the estimated period. The surge can be credited to the increasing production of oil and natural gas in the region. This is attributed to the fact that silica sand is deployed in the manufacturing process for fracking.
Competitive Landscape:
Key Market Players Take up Research Activities for the Development of New Products
Leading silica sand industry participants are formulating an array of strategic initiatives for strengthening their market position. Many companies are also undertaking research initiatives for the development and launch of various products. Some of the initiatives comprise acquisitions, mergers, the formation of alliances, and others.
Key Industry Development:
January 2022 – Suvo Strategic Minerals acquired White Hill quartz sand asset in Western Australia. The company intends to provide materials that meet strict regulations for high-end materials such as specialty glass.
Comments
0 comment