New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Silica Sand Global Market Report 2023" - https://www.reportlinker.com/p06479986/?utm_source=GNW
, Mitsubishi Corporation, Preferred Sands, Quarzwerke GmbH, Sibelco Group, U.S. Silica Holdings Inc., and Pattison Sand.
The global silica sand market is expected to grow from $16.91 billion in 2022 to $18.17 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions and affecting many markets across the globe. The silica sand market is expected to reach $23.33 billion in 2027 at a CAGR of 6.5%.
The silica sand market consists of sales of unprocessed silica sand, washed and dried sand, silica flour, and specialty sands.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Silica sand refers to a granular substance made of quartz and trace amounts of other minerals like clay and coal. It is frequently utilized in a variety of building applications and is known as quartz sand and industrial sand.
Asia-Pacific was the largest region in the silica sand market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the silica sand market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of silica sand are wet sand, dry sand, frac sand, filter sand, coated sand and other silica sands.Wet sand is a type of sand where grit particles are washed away using water or another liquid as a lubricant.
They are available in different forms of purity including 94% to 95.9%, 96% to 97.9% and 98% to 98.95%, and are used for various mesh sizes including <70 mesh, 70-120 mesh, 120-200 mesh, >200 mesh for use in various end-users such as glass manufacturing, construction, filtration, foundry, chemical production, paints and coatings, ceramics and refractories, oil and gas and other end-users.
Growth in the construction industry is expected to propel the growth of the silica sand market going forward.Cement plays a major role in the construction industry as all constructions require cement and silica sand is an important component of cement.
Therefore, growth in the construction market is driving the growth of the silica sand market.For instance, in December 2022, according to the Federal Reserve Bank of St.
Louis, a US-based central bank, total spending on commercial construction reached $131 million, increasing from $103 million in December 2021.Furthermore, in May 2022, the total spending on residential construction topped $954 million, increasing from $797 million in May 2021.
Therefore, the growth in the construction industry is driving the growth of the silica sand market.
The development of green products using silica sand is a key trend gaining popularity in the silica sand market.Companies involved in the silica sand market are focused on discovering new usage of silica sand to sustain their position in the market.
For instance, in July 2022, Polar Night Energy, a Finland-based company involved in building heat storage for renewable energy, launched sand batteries that use silica sand as a storage medium for energy generated using green sources such as wind. The company believes that the battery will not only warm the homes in winter but will also save over 100Mt CO2 emissions per year.
In March 2022, SIBELCO, a Belgium-based company that mines, processes, and sells industrial minerals worldwide, acquired Kremer Zand en Grind B.V. for an undisclosed amount. Through this acquisition, Sibelco aimed to expand its consumer base and extend its silica sand deposits and resources in Europe. The acquisition helped Sibelco broaden its product portfolio and become the global leader in silica sand. Kremer Zand en Grind B.V. is a Netherland-based producer of wet, dried, and calibrated silica sand.
The countries covered in the silica sand market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The silica sand market research report is one of a series of new reports that provides silica sand optical components market statistics, including silica sand optical components industry global market size, regional shares, competitors with a silica sand optical components market share, detailed silica sand optical components market segments, market trends and opportunities, and any further data you may need to thrive in the silica sand optical components industry. This silica sand optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06479986/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
