Growing demand for silica sand from construction market is expected to drive the growth of global silica sand market during the forecast period
According to TechSci Research report, “Global Silica Sand Market By Application, By Grade, By Iron Content, By Region, Competition, Forecast & Opportunities, 2024”, Global silica sand market is expected to register a CAGR close to 7% over the forecast period on account of increasing demand from the construction market, rising automotive production and sales, rising per capita income, and technological advancements in the field of construction. Additionally, factors such as increasing usage of hybrid guide plate, lightweight glazing glass, solar control glazing for automotive and building glasses, along with advanced nanotechnology in manufacturing of flat glass are positively influencing the growth glass industry, thereby, anticipated to boost the demand for silica sand across the globe. However, illegal mining of sand and development of sand-free construction products are some factors that might act as major impediment to the market during the forecast period.
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Global silica sand market can be segmented based on application, grade, iron content and region. Regionally, Asia-Pacific dominated the market until 2018 in terms of having largest consumer base for silica sand and is further anticipated to maintain its dominance during the forecast period as well which can be attributed to high demand from the growing economies such as China and India. Additionally, increasing construction activities coupled with growing glass and foundry industry in the region, is further estimated to augment the demand for silica sand market over the coming years. Also, North America is projected to grow significantly during the forecast years on the account of its rapidly developing oil and gas industry.
Deere and Company, Chongqing Changjiang River Moulding Material (Group) Co. Ltd, Fairmount Santrol, SCR- Sibelco, U.S. Silica Holdings, Mitsubishi Corporation, Tochu Corporation, Quarzwerke GmbH, Badger Mining, Emerge Energy Services among others are the leading players operating in global silica sand market.
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“The global silica sand market is forecast to grow substantially during the forecast period which can be attributed to the ongoing infrastructural projects in various developing countries, aimed to stimulate the construction sector. This is in turn bolstering the demand for silica sand across numerous sectors. Additionally, rising disposable income levels is boosting the sales of automobiles across the globe, which is projected to influence the growth of the global silica sand industry in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Silica Sand Market By Application, By Grade, By Iron Content, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global silica sand market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global silica sand market.
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