Silica Sand Market to Grow with a CAGR of 5.24% through 2028
Growth in research and development activities is expected to drive the Global
Silica Sand Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Silica Sand Market
– Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Silica Sand Market stood at USD 22.68
billion in 2022 and is anticipated to grow with a CAGR of 5.24% in the forecast
period, 2023-2028. The initiatives taken by government based on Silica Sand has
led to favorable market conditions for the Global Silica Sand Market. Several
factors contribute to the growth of various Silica Sand products.
In the United
States, the Occupational Safety and Health Administration (OSHA) has outlined
comprehensive guidelines on crystalline silica, a common mineral found in
various materials such as sand, stone, concrete, and mortar. These guidelines
aim to ensure the safety and well-being of workers by protecting them from the
potential health risks associated with silica dust exposure.In the state of
Minnesota, the Environmental Quality Board (EQB) has taken proactive measures
by adopting and approving plans for regulating silica sand projects. This
approach was initiated following the directive of the 2013 Minnesota
Legislature, which tasked the EQB with accomplishing several silica sand
related objectives. The objective is to establish a robust framework that
promotes responsible mining and processing of silica sand while safeguarding
the environment and public health.
Furthermore, to
further enhance safety measures, the Mine Safety and Health Administration
(MSHA) in the United States has launched the Silica Enforcement Initiative.
This initiative encompasses various activities such as inspections, sampling,
compliance assistance, and the protection of miners' rights. By implementing
these measures, MSHA aims to ensure that mining operations prioritize the
health and safety of workers and mitigate the risks associated with silica
exposure.
Overall, these
combined efforts by OSHA, EQB, and MSHA reflect a commitment to safeguarding
workers' health, promoting responsible mining practices, and mitigating the
potential risks associated with silica dust exposure in the United States.
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Silica Sand Market”
Research and
development (R&D) activities play a significant role in shaping the
industrial silica sand market. These activities are primarily focused on the
development of innovative products and technologies that can enhance the
efficiency and effectiveness of silica sand utilization across diverse
industries.
For instance, in
the glass-making industry, R&D initiatives are underway to explore advanced
techniques for manufacturing high-quality glass with improved properties,
including strength and clarity. This surge in R&D efforts is driving the
demand for high-grade silica sand, a crucial component in the production of glass.
Similarly, the
construction industry is actively conducting research to formulate sustainable
concrete mixtures that incorporate silica sand. This not only reduces reliance
on natural resources but also enhances the durability and performance of the
concrete. By investing in
R&D, industries are able to continuously improve their processes and
products, ultimately driving growth and progress in the industrial silica sand
market.
The Global
Silica Sand Market is segmented into grade, application, regional distribution,
and company
Based on its application, the glass manufacturing segment
held the largest share in the market. The main ingredient in all varieties of
ordinary and specialty glassware is silica sand. It is the primary supplier of
the crucial SiO2 (silicon dioxide) component needed to produce glass. The
chemical purity of this component plays a vital role in determining the color,
clarity, and strength of the glass. In the context of Asia's emerging countries,
particularly India and China, the market for silica sand in this application
area is expected to experience significant growth. This can be attributed to
the rising demand for flat glass and fiberglass from the electronics and
construction industries. Additionally, in industrialized nations like South
Korea and Japan, the usage of specialty glass in the respected electronics
industry is expected to drive the growth of the glass production industry,
potentially leading to an increased demand for silica sand.
Furthermore, glasses find widespread usage in the
building sector, serving as essential components in various architectural
elements such as windows, doors, interior partitions, balustrades, shopfronts,
and railings for stairs and balconies. This presents considerable opportunities
for the use of glass and the potential for an increased demand for silica sand.
Based on region, North America segment is expected to
grow during the forecast period. The increase in extraction of oil and natural gas in
the region can be attributed to the growing demand for this product in the
fracking process. The United States and Canada, being major oil-producing
nations, play a significant role in this aspect. To address the challenge of
flow breakage, the hydraulic fracturing method is employed, which involves
injecting high-pressure water into the well to create fissures in the rock,
facilitating the extraction of oil and subsequently increasing the demand for
this material. This particular commodity is highly preferred due to its ability
to deliver exceptional performance and improved efficiency, which in turn is
expected to drive significant revenue growth in the market within this region.
Major companies operating in Global Silica Sand Market
are:
- Badger Mining Corporation
- Chongqing Changjiang River Moulding
Material (Group) Co. Ltd.
- Covia Holdings LLC
- Euroquarz GmbH (Possehl Group)
- JFE Mineral & Alloy Company Ltd.
(JFE Holdings Inc.)
- Manley Bros. of Indiana Inc.
- Mitsubishi Corporation
- Quarzwerke GmbH
- Tochu Corporation
- SCR-Sibelco NV
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“Growing application of Silica Sand in various end
user industries are key drivers of the Silica Sand market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of Silica Sand with every
passing year are anticipated to register an impressive growth to Global Silica
Sand Market in the forecast period.,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Silica Sand Market By Grade
(A, B, C, D, E, F, Others), By Application (Glass Manufacturing, Foundry,
Hydraulic Fracturing, Chemical Production, Construction, Paints & Coatings,
Ceramics & Refractories, Others), By
Region, By Competition Forecast & Opportunities, 2018-2028F”, 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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