Industrial Silica Sand Market -North America is estimated to account for the largest market share, Says Fact.MR
The industrial silica sand market is estimated to be valued at more than US$ 13 Bn in 2020 and grow at a CAGR of 4.4% over the forecast period of 2020-2030. Industrial silica sand is an essential raw material in manufacturing glass products which provides strength, colour, clarity, and other physical properties to the glass. Moreover, its extensive application in masonry products manufacturers and growing requisite in regions such as South Asia & Oceania have generated significant growth opportunities for market players.
Glass, a key application area of the industrial silica sand, has been one of the most versatile modern materials. Modern scientific techniques and advanced technologies have enabled manufacturers to advance their knowledge and command of glass at a significant rate. The result is thus likely to lead to increased demand for industrial silica sand. High valuation portrays an image of the mature market, owing to increasing scope of application in hydraulic fracturing to construction additives.
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Key takeaways of Global Industrial Silica Sand Market
- The global industrial silica sand market is anticipated to create a value opportunity of around US$ 7.2 Bn during the forecast period, 1.5X increase from that of 2020.
- Use of industrial silica sand in the glass industry is estimated to account for more than 85% share of the market revenue in 2020, and lose 240 BPS in its market share by 2030 over 2020.
- Application in construction additives is anticipated to gain around 190BPS through 2030
- North America holds the leading market share and accounts for more than 90 kilo tons of industrial silica sand production.
Industrial Silica Sand Market
“In the wake of the COVID-19 pandemic and subsequent restrictions on industrial operations, end-use industries slowed their production. The demand for industrial silica sand is thus facing a slight decline which will remain affected for the next 3 quarters,” says the Fact.MR analyst.
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Industrial Silica Sand Market Shows Fair Level of Fragmentation
Industrial silica sand market is fairly fragmented with key players such as U.S. Silica, Mitsubishi, Sibelco, and Fairmount Santrol accounting for half of the revenue share. While the market is fairly fragmented, penetration of the new entrants is low in the current scenario. Products launched by Tier-2 and Tier-3 stakeholders are slowly gaining global presence. Additionally, the number of players vying for a pie of the lucrative industrial silica sand market continues to increase with each passing year.
COVID-19 Impact on Industrial Silica Sand Market
The COVID-19 pandemic has affected the global economy in several ways. Demand for various products across several industry verticals has fallen, directly impacting their production. Additionally, supply chains have been disrupted, causing a gap in the demand-supply equation. A significant market crunch is anticipated for the oil & gas and building & construction industries, attributed to shortfalls in the macroeconomic factors such as buying power, growth initiatives, investments, and others. Considering the resumption of factories in widely affected nations such as China, the industrial silica sand market is anticipated to rebound post two quarters of market reopening.
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More Valuable Insights on Industrial Silica Sand Market
Fact.MR, in its new offering, presents an unbiased analysis of the global industrial silica sand market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the industrial silica sand market on the basis of 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.
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the Chemicals & Materials team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the Chemicals & Materials industry lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations.
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