Silica
is a chemical compound composed of silicon and oxygen in the ratio of
1:2, respectively. Silica sand is composed of granular materials that
consist of quartz as the major component and a small amount of clay,
coal, and other minerals. Industrial sand, over time, through the work
of water and wind is weathered into tiny granules of sand.
Moreover,
it exhibits superior properties such as high thermal resistance,
hardness, and chemical inertness which make it suitable for a diverse
range of applications such as glassmaking, hydraulic fracturing, and
water treatment, among others. Moreover, it is prominently used as a raw
material in the manufacturing of flat glass, screen-printed glass,
annealed glass, and tempered glass in various industries such as
consumer electronics, automotive, chemicals, and construction.
The
expanding glass industry is expected to be the major driver in the
global silica sand market on account of increasing consumption of silica
sand in glassmaking applications owing to its high thermal strength,
high melting point, excellent refractoriness, and grain strength. In
addition, the high demand for silica sand in the foundry industry for
metal casting for both ferrous and non-ferrous alloys is further
projected to augment the global market growth. Moreover, the growing
construction industry in the developing countries of Asia-Pacific such
as India and South-East Asian countries including Indonesia, Thailand,
and Malaysia is likely to boost the global market growth for silica sand
owing to its use in specialty cement, flooring compounds, and mortars.
The Silica Sand Market Growth is projected to be valued at USD 14,718.2 Million and register a CAGR of 6.75% during the forecast period.
However,
the only bottleneck in a growth trajectory of the global silica sand
market is the increasing concerns among the consumers regarding the
potential health impacts of respirable crystalline silica (RCS).
Moreover, stringent government regulations for sand mining used in
fracking is likely to further hinder the global market growth in the
coming years. Nevertheless, the rising shale gas exploration in the US
and growing consumption in the oil & gas industry as a proppant is
expected to create lucrative opportunities for the market players. Also,
robust shale gas exploration in Asian countries such as China and Japan
are further anticipated to provide immense opportunities to the silica
sand producers during the forecast period.
Market Players
Market Research Future (MRFR) recognizes the following companies as the key players in the global silica sand market: U.S.
Silica (US), Fairmount Santrol (US), Sibelco (Belgium), Toyota Tsusho
Corporation (Japan), IMOSA (Spain), Emerge Energy Services (US), Badger
Mining Corporation (Germany), Cairo Fresh for Minerals & Quarries
Materials (Egypt), Tochu Corporation (Japan), Euroquarz GmbH (Germany),
and American Elements (US).
Segment Analysis
The
global silica sand market has been segmented based on mesh size, grade,
process, application, and region. Based on mesh size, the <70 mesh
segment witnessed the largest market share of 42.19% in 2018 and is
likely to register the highest CAGR of 7.22% in the
following years. This is due to the increasing utilization of <70
mesh silica sand in major applications such as glassmaking, hydraulic
fracturing, construction, and water treatment. Also, it exhibits high
grain strength, sphericity, better refractoriness, and high thermal
strength.
By grade, the glass segment dominated the global silica sand market with a robust market share of 41.22% in 2018 and is estimated to register the highest CAGR of 7.33%
during the assessment period. This is largely attributed to the
bolstering demand for glass grade silica sand in the production of flat
glass, annealed glass, and screen-printed glass in the automotive and
construction industries. In addition, robust growth in the solar
industry and rising consumption of glass panels is expected to augment
the demand for global silica sand market.
On
the basis of process, the dry silica sand segment accounted for the
largest market share of 61.00% in 2018 and is further projected to grow
at the highest CAGR of 7.18% in the coming years. This
is majorly due to the easy handling of silica sand manufactured by this
process. Also, less moisture and growing consumption of dry silica sand
in glassmaking and hydraulic applications are further expected to propel
the global market growth.
Based on application, the hydraulic fracturing application segment held the largest market share of 41.39% in 2018 and is projected to reach USD 10,180.7 million by 2024.
It is widely used as a proppant in hydraulic fracturing in the shale
gas and oil industry. The glass application segment is estimated to grow
at the highest CAGR of 7.21% in the following years
owing to the growing utilization of silica sand in glassmaking for
automotive and construction industries.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/silica-sand-market-8216
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