The market for Silica Sand is anticipated to register a CAGR of more than 7% during the forecast period. As a commodity, silica sand is used as a primary ingredient in numerous industries, namely construction, glass, foundry, oil & gas and fillers & extenders. Its properties, such as resistance to high-temperatures, purity, grain size, inertness, and hardness make it a vital ingredient for numerous industrial sectors.
- The market in glass manufacturing application segment is expected to benefit heavily from the increasing demand for flat glass and fiber glass from the rapidly growing automotive and construction sectors in the emerging economies in Asia, especially India and China. This is expected to drive the market in the forecast period.
- Illegal Mining of Sand and development of sand-free construction products are likely to hinder the market’s growth.
- The growing hydraulic fracking activities (due to rising shale gas and shale oil exploration activities are projected to act as an opportunity for the market in future.
Key Market Trends
Increasing Demand from the Glass Industry
- The glass manufacturing industry was one of the largest end-user industries of the global silica sand market.
- Silica sand is an inevitable part of the glass manufacturing industry and accounts for more than 50% of the entire raw materials being used in glass manufacturing. The material finds usage in an array of glass materials being produced, including containers, flat and specialty glass, and fiberglass.
- The container sub-segment accounted for the largest consumption in the glass manufacturing application segment and was followed by the flat glass and the fiber glass sub-segments.
- The market in this application segment is expected to benefit heavily from the increasing demand for flat glass and fiber glass from the rapidly growing automotive and construction sectors in the emerging economies in Asia, especially India and China.
- Moreover, the use of specialty glass in the reputable electronics sector in developed countries, like South Korea and Japan, is expected to further aid the growth of the glass manufacturing industry, which in turn, may increase the demand for silica sand in the region.
- All the aforementioned factors, is expected to drive the global market during the forecast period.
India to Dominate the Asia-Pacific Market Growth
- The Indian Ministry of Mines has classified sand as a minor mineral along with marble, clay, and others. The minor minerals accounts for about 12% of the total mining industry in India.
- Silica sand in India is used for various applications, such as glass formation in foundries, chemical production, construction, paints, etc.
- India is one of the major countries in the global construction market, both in terms of revenue and market growth potential. India represents the tenth-largest economy in the world and the third largest, in terms of purchasing power parity.
- This has led to an increase in the demand for commercial buildings, shopping malls, arenas, high-rise buildings, and hotels, in turn, boosting the demand for silica sand in India.
- India’s silica sand market is expected to increase at a healthy growth rate, because of the growing construction and foundry industry.
The silica sand market is partially consolidated. In terms of market share, few of the major players currently dominate the market. Key players in the silica sand market include Chongqing Changjiang River Moulding Material (Group) Co. Ltd, Covia Holdings Corporation, Sibelco, U.S. SILICA, Mitsubishi Corporation, and TOCHU CORPORATION. among others.
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