Prominent players in the industrial silica sand market are adopting modern scientific techniques and advanced technologies improve production methods and enhance the quality of products.
ROCKVILLE, MD / ACCESSWIRE / September 8, 2020 / The industrial silica sand market is anticipated to grow at an impressive CAGR of 4.4% in terms of value through the period of forecasting between 2020 and 2030. The market was valued at over US$ 13 Bn in 2020 and will progress on a positive growth trajectory on the back of rising demand in the production of glass. However, the unforeseen outbreak of COVID-19 has brought the global manufacturing sector to a standstill thus limiting the growth of the market to a certain extent in 2020.
"Strong composition of silicon dioxide in industrial makes it ideal for usage in the manufacturing of glass, which is expected to remain crucial to the growth of the market," says the Fact.MR report.
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Industrial Silica Sand Market - Key Takeaways
- The global industrial silica sand market is projected to bestow an incremental opportunity of US$ 7.2 Bn through 2030.
- Based on the type, sodium silicate is anticipated to account for over 80% of overall market value, backed rising adoption in applications such as drilling fluids, stabilizing bore wells, and glass manufacturing
- Among end-use sectors, the glass industry held over 85% value in 2020 and will continue to channel the majority of revenue through the forecast period.
- North America is projected to maintain hegemony over the regional landscape with the production volume of industrial silicate sand surging past 90 kilo tons in the region.
- East Asia, which currently accounts for a quarter of the industrial silica sand demand is expected to remain a significant region owing to remarkable adoption in the oil & gas industry.
- South Asia & Oceania is projected to register the highest growth in the regional landscape, owing to soaring adoption in glass and building & construction industries.
Industrial Silica Sand Market - Driving Factors
- While glass manufacturing remains a lucrative application, growing usage in applications such as metal casting, hydraulic fracturing, construction additives, and filter media, among others is expected to bestow substantial revenue opportunities.
- On the back of the rising volume of shale oil production year-on-year, hydraulic fracturing gained prominence, which in turn, is positively influencing the sales of industrial silicon sand.
Industrial Silica Sand Market - Constraints
- Complications associated with the transportation of silica sand coupled with the high transportation cost as compared to the cost of the product is holding back the growth of the market.
Anticipated Market Impact by Coronavirus Outbreak
The COVID-19 has brought the overall industrial sector to a screeching halt, including oil & gas and construction, which are key end-use sectors of industrial silica sand. This pandemic has been unfavorable to the market, negatively affecting the sales of industrial silica sand, and the downtrend is expected to prevail through the third and fourth quarters of 2020. As the manufacturing sector gradually begins to restart operations after a long halt, the demand for products is likely to witness a healthy revamp beginning from the dawn of 2021.
Explore the global industrial silica sand market with 176 figures, 114 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/4840/industrial-silica-sand-market
Competition Landscape
The major players operating in the Industrial Silica Sand Market include U.S. Silica, Mitsubishi, Sibelco, Fairmount Santrol, Badger Mining, Tochu Corporation, Euroquarz GmbH, K&E Sand and Gravel, and Superior Silica Sands LLC, among. Market players are focusing on researching materials, enhancing production technologies, and acquisitions. On this premise, in May 2018, U.S. Silica acquired EP Minerals to widen the company's industrial material product offerings.
More on the Report
The FACT.MR's market research report provides in-depth insights into the Industrial Silica Sand Market. The market is scrutinized on the basis type (sodium silicate, potassium silicate and others), particle size(<40 mesh, 40-100 mesh, >100 mesh), application (metal casting, hydraulic fracturing, construction additives, filter media, glass manufacturing, and others), and end use (building, glass, foundry, and others) across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East and Africa).
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SOURCE: FactMR