Pune, India, Feb. 13, 2023 (GLOBE NEWSWIRE) -- The global silica sand market size stood at USD 10.54 billion in 2021. The market is set to expand from USD 11.29 billion in 2022 to USD 18.98 billion by 2029, exhibiting a CAGR of 7.7% over the estimated period. The rise can be attributed to the extensive range of applications, including inert chemical nature, high melting point, toughness, and others.
This information is provided by Fortune Business Insights™ in its research report, titled “Silica Sand Market, 2022-2029”.
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Competitive Landscape:
Leading Players Undertake Research Activities to Develop New Products
Major silica sand companies are undertaking research activities for the development of various products. These industry players are also formulating and implementing a series of strategic initiatives for strengthening their position in the market. These include mergers, the formation of alliances, acquisitions, and others. Besides, some companies are participating in trade fairs for enhancing their business prospects.
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 7.7 % |
| 2029 Value Projection | USD 18.98 Billion |
| Base Year | 2021 |
| Silica Sand Market Size in 2022 | USD 11.29 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 250 |
| Segments Covered | By Type, End-user and Regional Insights |
| Silica Sand Industry Growth Drivers | Construction Segment to Record Appreciable Expansion Owing to Rising Product Adoption |
| Market Value to Surge Owing to Escalating Demand from the Glass Industry |
Regional Insights:
Asia Pacific to Emerge Prominent Due to Escalated Demand in Glass & Construction Activities
The Asia Pacific silica sand market share is estimated to register considerable expansion throughout the study period. The surge can be credited to increasing government expenditure on infrastructure development in the region.
The North American market is set to record lucrative growth over the analysis period. This is due to the growing production of natural gas and oil in the region. The process requires silica sand for the process of fracking.
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List of Key Players Mentioned in the Report:
- U.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 (U.S.)
- Mitsubishi Corporation (Japan)
- Preferred Sands (U.S.)
- Aggregate Industries (U.K.)
Segments:
Construction Segment to Register Substantial Growth Owing to Escalated Product Adoption
On the basis of the end-use industry, the market for silica sand is segregated into foundry, construction, paints & coatings, glass manufacturing, oil & gas, chemical production, ceramics & refractories, and others. The construction segment is slated to depict commendable expansion over the estimated period. The surge can be attributed to the growing product usage in the manufacturing of concrete and mortar.
Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report provides a comprehensive analysis of the major factors impelling the industry landscape across various regions. It further gives an insight into the prominent trends driving market expansion over the forecast period. Additional aspects comprise the significant steps taken by leading companies to gain a competitive edge.
Drivers and Restraints:
Market Value to Surge Owing to Escalating Demand from THE Glass Industry
One of the key factors propelling the silica sand market growth is the soaring product demand from the glass industry. The escalated product demand can be attributed to the low coefficient of thermal expansion and extreme thermal shock resistance. This helps in preventing any change in the material driven by sudden changes in temperature.
However, the market expansion could be hindered on account of various health hazards associated with the level and duration of crystalline silica exposure. Long-term exposure is associated with lung cancer, silicosis, chronic bronchitis, and numerous autoimmune diseases.
COVID-19 Impact:
Industry Growth Affected Due to Supply Chain Disruptions Amid COVID-19 Pandemic
The COVID-19 pandemic led to disruptions in the supply chain of various countries. These included Italy, Japan, China, Canada, Germany, and India. This resulted in difficulties in the distribution of finished goods and the supply of raw materials. Additional factors affecting industry growth included stringent government regulations and the halting of construction projects. This was on account of their key role in end-use industries.
Browse Detailed Summary of Research Report with TOC:
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Trends
- Key Developments
- Insights on Regulatory Scenario
- Latest Technological Advancements
- Porters Five Forces Analysis
- Qualitative Insights – Impact of COVID-19 on the Market
- Supply Chain Challenges
- Steps were taken by Government/Companies to overcome this impact
- Potential opportunities due to the COVID-19 outbreak
- Global Silica Sand Market Analysis, Insights, and Forecast, 2022-2029
- Key Findings / Summary
- By End-use Industry (Value/Volume)
- Construction
- Glass Manufacturing
- Filtration
- Foundry
- Chemical Production
- Paints & Coatings
- Ceramics & Refractories
- Oil & Gas
- Others
- By Region (Value/Volume)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Toc Continued…
Key Industry Development:
June 2022 – Sibelco announced an investment in Diatreme Resources Limited. Via this partnership, the company would serve Asian markets for artificial stone solar PV and other applications.
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