Global Silica Sand Market - Overview
The Silica Sand Market is projected to be valued at USD 21, 657.8 Million and register a CAGR of 6.75% during the forecast period. Silica is a chemical compound composed of silicon and oxygen in the ratio of 1:2, respectively. Silica sand is composed of granular materials that consist of quartz as the major component and a small amount of clay, coal, and other minerals. Industrial sand, over time, through the work of water and wind is weathered into tiny granules of sand.
Moreover, it exhibits superior properties such as high thermal resistance, hardness, and chemical inertness which make it suitable for a diverse range of applications such as glassmaking, hydraulic fracturing, and water treatment, among others. The expanding glass industry is expected to be the major driver in the global silica sand market on account of increasing consumption of silica sand in glassmaking applications owing to its high thermal strength, high melting point, excellent refractoriness, and grain strength. Moreover, it is prominently used as a raw material in the manufacturing of flat glass, screen-printed glass, annealed glass, and tempered glass in various industries such as consumer electronics, automotive, chemicals, and construction.
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Global Silica Sand Market – Prominent Players
S. Silica of the United States, Fairmount Santrol of the United States, Sibelco of Belgium, Toyota Tsusho Corporation of Japan, IMOSA of Spain, Emerge Energy Services of the United States, Badger Mining Corporation of Germany, Cairo Fresh for Minerals and Quarries Materials of Egypt, Trochu Corporation of Japan, Euroquarz GmbH of Germany and, American Elements of the United States.
Silica Sand Market Dynamics
In addition, the high demand for silica sand in the foundry industry for metal casting for both ferrous and non-ferrous alloys is further projected to augment the global market growth. Moreover, the growing construction industry in the developing countries of Asia-Pacific such as India and South-East Asian countries including Indonesia, Thailand, and Malaysia is likely to boost the global market growth for silica sand owing to its use in specialty Silica Sand, flooring compounds, and mortars.
However, the only bottleneck in a growth trajectory of the global silica sand market is the increasing concerns among the consumers regarding the potential health impacts of respirable crystalline silica (RCS). Moreover, stringent government regulations for sand mining used in fracking is likely to further hinder the global market growth in the coming years. Nevertheless, the rising shale gas exploration in the US and growing consumption in the oil & gas industry as a proppant is expected to create lucrative opportunities for the market players. Also, robust shale gas exploration in Asian countries such as China and Japan are further anticipated to provide immense opportunities to the silica sand producers during the forecast period.
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Silica Sand Market - Segments:
The global silica sand market has been segmented based on mesh size, grade, process, application, and region. Based on mesh size, the <70 mesh segment witnessed the largest market share of 42.19% in 2018 and is likely to register the highest CAGR of 7.22% in the following years. This is due to the increasing utilization of <70 mesh silica sand in major applications such as glassmaking, hydraulic fracturing, construction, and water treatment. Also, it exhibits high grain strength, sphericity, better refractoriness, and high thermal strength.
By grade, the glass segment dominated the global silica sand market with a robust market share of 41.22% in 2018 and is estimated to register the highest CAGR of 7.33% during the assessment period. This is largely attributed to the bolstering demand for glass grade silica sand in the production of flat glass, annealed glass, and screen-printed glass in the automotive and construction industries. In addition, robust growth in the solar industry and rising consumption of glass panels is expected to augment the demand for global silica sand market.
On the basis of process, the dry silica sand segment accounted for the largest market share of 61.00% in 2018 and is further projected to grow at the highest CAGR of 7.18% in the coming years. This is majorly due to the easy handling of silica sand manufactured by this process. Also, less moisture and growing consumption of dry silica sand in glassmaking and hydraulic applications are further expected to propel the global market growth.
Based on application, the hydraulic fracturing application segment held the largest market share of 41.39% in 2018 and is projected to reach USD 10,180.7 million by 2030. It is widely used as a proppant in hydraulic fracturing in the shale gas and oil industry. The glass application segment is estimated to grow at the highest CAGR of 7.21% in the following years owing to the growing utilization of silica sand in glassmaking for automotive and construction industries.
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Global Silica Sand Market -Regional Analysis
By region, the global Silica Sand Market has been segmented into the Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Due to the presence of the largest and second-largest Silica Sand-producing countries in the world, namely China and India, the Asia Pacific region remained the largest share of the global Silica Sand Market in 2018 and is projected to be the fastest-growing region in the forecast period. Rapid industrialization and urbanization, supported by the regional government, are the driving force behind the growth of Silica Sand in the region. In addition, government policies such as 'Make in India,' which allow for an increase in foreign direct investment (FDI), have boosted commercial construction in the region, thus, boosting Silica Sand growth in the regional market. For example, as per the India Brand Equity Foundation (IBEF), the FDI investment in Silica Sand and gypsum production companies was valued at USD 5.28 billion from April 2000 to December 2018.
North America had the second-largest share of the global Silica Sand Market in 2018. Due to the active commercial and infrastructural sector, there is a high demand for Silica Sand in the region, with the US becoming the third in Silica Sand consumption.
Europe has a large share of the global Silica Sand Market due to the strictly legal, regulatory, and environmental standards that promote Silica Sand as a binder for various purposes, as Silica Sand is less hazardous to the environment and cost-effective than other binding agents.
Latin America contributes a significant share to the global Silica Sand industry, with countries such as Brazil and Mexico driving the regional market due to the existence of a quality reserve of limestone and proximity to more critical markets such as the United States and Canada, thereby boosting the growth of Silica Sand in the regional market.
Key Findings of the Study:
- Global silica sand market is projected to reach over 4,24,908.9 KT by 2024 with a healthy CAGR of 5.72% during the assessment period of 2021—2030
- The Asia-Pacific market accounted for the largest market share due to developments in the oil and gas industry, robust shale gas exploration, and significant growth of the construction industry in the economies such as India, Japan, South Korea, and China
- The <70 mesh segment dominated the market with a market share of 19% in 2018 and is estimated to grow at a notable CAGR of 7.22% during the review period
- The glass grade segment accounted for the largest market share of 22% in 2018 and is likely to register the highest CAGR of 7.33% during the forecast period
- The dry silica sand process witnessed the largest market share of 00% in 2018 and is anticipated to exhibit a robust CAGR of 7.18% in the following years
- The hydraulic fracturing application segment held the largest market share of 39% in 2018 and is expected to be valued at USD 10,180.7 million by the end of 2030
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