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Market Overview:
The Silica Sand Market size is estimated to reach $29.78 Billion by 2030, growing at a CAGR of 5% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Silica Sand Market – By Purity (94% to 95.9%, 96% to 97.9%, 98% to 98.9%, and Above 99%), By Silica Sand (Wet Sand, Dry Sand, Frac Sand, Filter Sand, Coated Sand, and Others), By Application (Glass Manufacturing [Flat Glass, Fiberglass Insulation, Specialty Glass, Container Glass, and Others], Chemical Production [Sodium Silicate, Silicon Gels, Silicon Tetrachloride, and Others], Foundry [Ferrous Foundry, Nonferrous Foundry], Construction [Cement, Asphalt Mixtures, Mortar, and Others], Paints & Coatings [Architectural Paints & Coatings, Industrial Paints & Coatings], Ceramics & Refractories [Tableware, Sanitaryware, Floor & Wall Tiles], Filtration & Water Production [Drinking Water, Wastewater], Oil & Gas Recovery, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”
Growth in renewable energy sector (solar PV manufacturing) and Advancements in high-performance glass manufacturing are expected to create growth opportunities in the market during forecast period.
North America Dominated the Market in 2023:
North America accounted for the largest share of 48% of the Silica Sand Market in 2023 followed by APAC and Europe. The growing investments and expansions in the fiber optic manufacturing sector with rising demand from the 5G rollout are set to escalate the market growth rate. For instance, The Biden-Harris Administration launches the $1.5 billion Public Wireless Supply Chain Innovation Fund, investing in open and interoperable networks to boost wireless innovation, competition, and supply chain resilience. This initiative aims to strengthen U.S. leadership in 5G and next-gen wireless technology. This marks a significant leap forward in connectivity, promising transformative opportunities for diverse sectors.
Silica Sand Market: Key Takeaways
Rising Demand in Construction:
Silica sand is the primary structural component in a wide variety of building and construction products. Silica sand is used in flooring compounds, mortars, specialty cement, stucco, roofing shingles, skid-resistant surfaces, and asphalt mixtures for binding. Moreover, ground silica performs ads durability and anti-corrosion and weathering properties in epoxy-based compounds, sealants, and caulks. The significant growth in initiatives such as smart cities in countries such as India, the US, and so on is set to boost the demand for silica sand. In February 2023, the Indian government allocated approximately $2.67 billion (USD) to metro projects nationwide in the Union Budget 2023-24. This includes equity investment of $645 million, subordinate debt of $191 million, and pass-through assistance of $1.82 billion, is further expected to boost business growth.
Demand for Glass Manufacturing:
In the construction sector, silica sand is a crucial ingredient in concrete, mortar, and asphalt, essential for building infrastructure, residential, and commercial projects. The rapid urbanization and industrialization in emerging economies are driving construction activities, thereby boosting the demand for silica sand. This is also driving demand for glass used in construction buildings. In the glass manufacturing industry, high-purity silica sand is a critical raw material for producing various types of glass, including flat glass, container glass, and specialty glass used in automotive, construction and solar panel industries. The growing emphasis on energy-efficient buildings and renewable energy sources like solar power is further fueling the demand for high-quality silica sand, making the construction and glass manufacturing sectors pivotal in driving the growth of the silica sand market.
For More Queries About "Silica Sand Market " @ https://www.industryarc.com/Research/Silica-Sand-Market-Research-503260
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Recent Developments:
• In July 2022, Sibelco expands its footprint by acquiring Echasa S.A., a silica sand mining company operating in Northern Spain. The acquisition includes the Laminoria quarry near Vitoria, strategically located 160 kilometers from Sibelco's nearest silica quarry in Arija. The acquisition expands Sibelco's customer reach and silica sand reserves in Western Europe, complementing its existing operations in the region.
• In April 2022, Source Energy Services Ltd. has finalized a transaction with Canadian Silica Industries Inc. and Contractor’s Leasing Corp., acquiring operations, distribution, and sales responsibilities for domestic frac sand from CSI’s Peace River facility. This adds 400,000 metric tonnes of production capacity, enhances offerings, and fosters production efficiencies through consolidation.
Silica Sand Market: Competitive Landscape
Key companies profiled in the Silica Sand Market are Sibelco, Hi-Crush Inc., U.S. Silica Holdings Inc., JFE Holdings Inc., Mitsubishi Corporation, Covia Holdings LLC, Badger Mining Corporation, PUM Group, Quarzwerke GmbH, Chem Source Egypt, and Others.
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IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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