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Recycled Glass Fiber Market With Thriving CAGR in Forecast Period 2020 to 2027

Post Time:Aug 03,2020Classify:Industry NewsView:930

The “Silica Sand Market” report 2020 covers all the significant developments which are recently being adopted across the global market. The prime objective of the Silica Sand market report is to provides an in-depth analysis of all market dynamics including drivers and restraints, and trends, and opportunities. The Silica Sand market report covers both the demand and supply aspects of the market. The report also highlighted the future trends in the Silica Sand market that will impact the demand during the forecast period.


Market Overview:

The silica sand market is anticipated to register a CAGR of more than 7% during the forecast period 2019-2024. As a commodity, silica sand is used as a primary ingredient in numerous industries, namely construction, glass, foundry, oil and gas, and fillers and 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 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 growth in hydraulic fracking activities (due to rising shale gas and shale oil exploration activities) is projected to act as an opportunity for the market in future.<

Some of the Top Key Players of Silica Sand Market Report Are:


Chongqing Changjiang River Moulding Material (Group) Co. Ltd

Fairmount Santrol

Mitsubishi Corporation

PUM Group

Tochu Corporation

JFE Mineral Co. Ltd

Sibelco

U.S. Silica

Xinyi Golden Ruite Quartz Materials Co. Ltd

Badger Mining Corporation

Emerge Energy Services

Pioneer Natural Resources Company

Euroquarz GmbH


Report Highlights:

Market Dynamics – Drivers, Restraints, and Opportunities

Market Segmentation – Types, Applications, Regions, and Technology

Market Trends

Competitive Landscape


Key Market Trends:

Increasing Demand from the Glass Manufacturing Industry

– The glass manufacturing industry was one of the largest end-user industries of the global silica sand market in 2018.

– 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 in 2018 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.


The Asia-Pacific Region is Expected to Dominate the Market

In 2018, Asia-Pacific was the largest consumer of silica sand, driven by the consumption from China and India. 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. India projected a GDP growth rate of 7.3% for the year 2019. 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.

Source: https://primefeed.in/news/Author: shangyi

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