Global Silica Sand Market Analysis, Trends and Opportunities -2023
Summary -
A new market
study, titled “Global Silica Sand Market Analysis, Trends and
Opportunities -2023” has been featured on WiseGuyReports.
Market analysis
Nowadays, the increasing application
of silica sand in the foundry industry is expected to be another major factor
driving the global market growth. Industrial sand has a high melting point of
1610°C, which aids in casting metal and aluminum alloys with melting points of
1510°C and 650°C, respectively. In addition to high thermal resistance, silica
sand can withstand the pressure of the molten metal without yielding and
further exhibits high bond strength and high refractoriness. A large amount of
silica sand is widely used in the iron and steel industries to make cores and
molds for metal castings. Moreover, it plays a crucial role in the foundry
industry as the main mold and core-making material for both ferrous and
non-ferrous castings. Furthermore, its low rate of thermal expansion helps in
producing stable cores and molds compatible with all the poring temperatures
and metal alloy systems. The Global Silica Sand Market is projected to register
a healthy CAGR of 6.75% to reach USD 21,657.4 Million by 2024. Silica is the
term given to the group of minerals that are composed of silicon and oxygen.
Silica sand is a granular material that contains quartz and a small amount of
clay, coal, and other minerals. Silica sand is quartz that over time, through
the work of wind and water, is broken down into tiny granules of sand. It finds
application in glassmaking, construction, water treatment, metal casting, and
foundry, among others. Moreover, it is largely used as a raw material in the
manufacturing of glass and other applications due to its properties such as
chemical inertness, high melting point, and hardness. It is also known as
quartz sand or industrial sand and is a term denoted to high-purity silica sand
products with closely controlled sizing.
Market segmentation
The Global Silica Sand Market has
been segmented by type, by end use and by region. The expanding glass industry
is foreseeable to be the major driver of the growth of the global silica sand
market in the glassmaking applications in the automotive and construction
businesses. Silica sand displays the compulsory clarity, grain strength,
refractoriness, and color for glassmaking. Also, it offers the compulsory
essential SiO2 module of glass preparation with high chemical purity.
Industrial sand is majorly used in the production of flat glass which further
is used in tableware, automobiles, and container glass for foods and beverages.
Furthermore, it is used to produce specialty glass, television screens,
incandescent, and fluorescent lamps, computer cathode ray tube (CRT) monitors,
and used in the manufacturing of test tubes. Based on application, the
hydraulic fracturing segment held the largest market share of 41.39% in 2018
and is projected to reach USD 10,180.7 million by the end of 2024. Silica sand
is used as a proppant in hydraulic breaking in the shale gas and oil industry.
Also, it functions as a flux to lower down the thickness and melting point to
make them more actual and responsive. In June 2018, Emerge Energy exposed its
in-basin sand development in Kingfisher County, Oklahoma. The expansion would
upsurge the silica sand production by 1.5 million tons yearly. The new mining
area consists of 65% of 100 mesh sand while 35% of the deposits contain 40/70
of sand. Based on mesh size, the <70 mesh segment settled for the principal
market share of 42.19% in 2018 and is estimated to register the highest CAGR of
7.22% during the review period. This is accredited to its growing feeding in
water filtration, paints and coatings, and hydraulic applications. Besides,
this mesh size is ideal for these applications and further offers required
sphericity and grain strength. By grade, the glass segment held the main market
share of 41.22% in 2018 and is projected to be the wildest-growing segment
during the forecast period. This is due to the surging demand for flat glass in
the construction and automotive industries, mainly in developing countries such
as India, Mexico, and Philippines. Besides, the robust growth viewpoint of the
solar PV industry across the globe is likely to augment the demand for
high-quality silica sand to produce photovoltaic glass. Based on process, the
dry silica sand piece subjugated the global silica sand market with a market
share of 61.00% in 2018. Besides, the segment is likely to grow at the highest
CAGR in the coming years owing to the easy handling and high ingesting in
glassmaking applications.
Regional analysis
Geographically, Global Silica Sand
Market is split in regions like North & Latin America, Europe,
Asia-Pacific, Middle east and Africa and Rest of the world. The North American
market settled for the second-major market share of 37.7% in 2018 and is likely
to display a notable CAGR of 6.49% during the assessment period due to the high
consumption of silica sand in the glass submissions. Also, the complementing
request for frac sand as a proppant in the shale gas industry is further
anticipated to propel the regional market growth. The Asia-Pacific market
subjugated the global market accounting the largest share of 39.6% in 2018 and
is estimated to register the highest CAGR of 7.65% by the end of 2024. This is
attributed to the snowballing urbanization, easy openness of raw material, and
increasing consumption in various end-use industries. China is the leading
country in the region and was valued at USD 3,064.3 million in 2018 owing to
the large consumer base and healthy growth of the foundry and oil & gas
industries. The other funders are Japan, India, and Australia & New
Zealand. In March 2018, U.S. Silica acquired EP Minerals, which is an inventor
company in trade reserves and engineered resources. EP Minerals’ outreach
market of unique minerals, which comprises additives, absorbents and purification
will expand the market reach of U.S. Silica. The US is the principal consumer
in the region owed to the strong shale gas industry base and presence of major
frac sand producing companies such as U.S. Silica and Fairmount Santrol.
Major players
The proposed spectators in the Global
Silica Sand Market are Silica sand manufacturers, Retailers, distributors,
wholesalers, Investors and trade experts, Governments, associations, industrial
bodies, etc. The major companies functioning in the Global Silica Sand Market
are concentrating on firming their global ways by entering into untouched
markets. The projected onlookers in the Global Silica Sand Market are companies
like 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), Quarzwerke GmbH, Chongqing Changjiang River Moulding Material
(Group) Co., Ltd, Mitsubishi Corporation and PUM Group.
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