Industrial Silica Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2024 | Research Report
The
presence of numerous large, medium, and small size players makes the
global industrial silica market fragmented in nature. Some prominent
participants in the market include Premier Silica LLC, International
Silica Industries Company plc, Sil Industrial Minerals Inc., U.S.
Silica Holdings Inc., Delmon Group of Companies, Adwan Chemical
Industries Co. Ltd., Opta Minerals Inc., Al Marbaie Est., Saudi
Emirates Pulverization Industries Company, AGSCO Corporation, Short
Mountain Silica, Al-Rushaid Group, and FINETON Industrial Minerals
Limited.
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As
per a report by Transparency Market Research, the global industrial
silica market was evaluated at US$18.75 bn in 2016. Expanding at a
CAGR of 6.6% between 2017 and 2025, the market is projected to become
worth US$32.98 bn by 2025.
Fiberglass
to remain Significant Application Segment
The
major segments of the industrial silica market depending upon
application are sodium silicate, fiberglass, culture marble, additive
reinforcing filler, foundry, ceramic frits & glaze, oilwell
cements, glass and clay production. Of them, fiberglass held more
than 25% of the overall market in 2016 volume-wise. Fiberglass,
additive reinforcing filler, and glass and clay applications are
anticipated to majorly drive the market over the forecast period.
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In
2016, Asia Pacific led the market with a share of more than 40% by
both revenue and volume. The region was trailed by North America in
terms of volume in the same year. The Middle East and Africa and
Latin America are expected to collectively hold more than 8% share of
the market by 2025.
Surging
Demand for Fiberglass across Industries Propels Market
At
the forefront of driving the global industrial silica market is the
rising demand for industrial silica for production of fiberglass.
Fiberglass is used across several end-use industries owing to its
excellent mechanical properties such as low weight, high strength,
and resistance to corrosion and heat. Due to these properties,
several governments such as in China are providing subsidies for
fiberglass production. As a result, the fiberglass glass market and
the industrial silica market is receiving a fillip. Fiberglass are
very thin elements of glass that are generally woven in the form of a
mat.
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“At
present, the expanding construction sector that accounts for a
significant demand for fiberglass for insulation needs is having a
positive impact on the industrial silica market. Further, wind
turbines account for significant demand for fiberglass as
installation rate of wind turbines and demand for renewable energy is
at an all-time high across the world. Oil well cementing operations
in the oil and gas industry holds significance for the growth of
industrial silica market. The cementing of oil wells is best carried
out with a blend of amorphous, spherical, micro-silica in combination
with industrial silica that can sustain higher temperatures,” says
the lead author of the report.”
Another
prominent growth driver of the industrial silica market is the demand
for industrial silica from steel foundries. Industrial silica
possesses several beneficial properties such as high purity, chemical
inertness, consistent particle size and shape, and compatibility with
chemical binders, which is anticipated to boost the demand for
industrial silica in the foundry industry. Thus, growth in the
foundry industry is serving to boost the industrial silica market.
On
the flip side, health hazards associated with the production of
silica flour is negatively impacting the market’s growth.
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Industrial Silica Market Research Report @
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