Industrial Silica Sand Market: Current Analysis and Forecast (2024-2032)

Report Description

Industrial Silica Sand Market Size & Forecast

The Industrial Silica Sand market was valued at USD 12.3 Billion in 2023 and is expected to grow at a strong CAGR of around 5.2% during the forecast period (2024-2032) owing to growing demand from the construction and glass manufacturing industries due to its essential role in producing high-quality glass and as a key ingredient in concrete and specialty applications.

Industrial Silica Sand Market Analysis

The concept of focusing on the industrial silica sand market is based on the supply and demand for high-quality silica sand, which is used in the production of several industries including the glass, construction, oil & gas, and ceramics industries. These factors include the high purity of silica, its thermal and mechanical stability, and hardness qualify silica sand to be used for the production of glass products, cement, foundry, and solar panel industries. The market is mainly fueled by the growth of glass and construction industries along with the increasing development of hydraulic fracturing in the oil and gas segment. Moreover, the rise in the usage of Silica Sand in the electronic and solar panel segments continuously drives the market ahead. Currently, the developing nations with rapidly developing infrastructural and automotive industries notably China and India are the prime consumers of industrial silica sand.

Currently, the industrial silica sand market mainly grows in China India, and Vietnam due to the increasing rate of urbanization, development of infrastructure, and industries. China, for instance, through governmental production strategies like the Made in China 2025 strategy is promoting local manufacturing of high-purity silica sand for electronics and solar purposes. The vibration is favored by Indian government standards such as “Make in India, ” pushing indigenous production and infrastructural activities that augment the silica sand requirement. On the other hand, through the National Power Development Plan VIII which aims for Vietnam to develop solar and wind energy, there is also demand for high-quality silica sand for solar panels production. Such countries, backed by positive government actions to spearhead, are believed to set trends in the future industrial silica sand market.

Industrial Silica Sand Market Trends

This section discusses the key market trends that are influencing the various segments of the Industrial Silica Sand market as identified by our team of research experts.

Growing Construction Industry

The expansion process of urban construction both locally and internationally has tremendously boosted the consumption of silica sand in most construction industries. Silica sand is used in the making of concrete cement and mortar which are used in the construction of roads bridges houses, and commercial buildings, among others. This need has been further fueled by global governments’ massive programs and plans to build smart cities, affordable housing, and sophisticated infrastructure in the growing economies, especially the Asia-Pacific region. Further, the use of silica sand in the production of high-strength construction materials increases its utility value in the sector.

Increasing Demand for Glass

Automotive, packaging, and construction industries have grown in a way that the demand for glass followed hence, increasing the need for silica sand which is a need for producing glass. We see its application in the automobile industry where silica sand is used in the manufacturing of safety glass and light windshields. Likewise, changing trends in the food and beverage industry toward the use of the glass pack have pioneered elevated demand. Other related product segments such as energy-efficient window and door glasses, architectural glass, and decorative glass are also pivotal to the growth of this segment making silica sand its input.

Technological Advancements

Present-day development in technology has emerged new specialty Silica sand applications like optical fibers, high-performance glass, and advanced ceramics. New products in the electronics industry especially for manufacturing flat panel displays, touch panels, and high-precision optical lenses require high-purity silica sand. In addition, the renewable energy industry has over the recent past been innovating for improved efficiency of solar panels and hence increased the popularity of silica sand as a major raw material in photovoltaic glass.

Rising Hydraulic Fracturing Activities

Hydraulic fracturing or fracking for oil and gas has attracted much attention in the energy sector, pushing the need for silica sand as a proppant for the creation of fractures. As the industry of shale gas/oil and tight oil develops worldwide, especially in North America, high-quality silica sand is now an essential resource to make those energy attainment procedures successful. Its eligibility in this particular use is born from its excellent features such as high crush strength and relative particle size uniformity, which guarantees that the demand for this product is relatively stable in the oil and gas market.

APAC is Expected to Grow with Significant CAGR During Forecast Period

The Asia-Pacific (APAC) region has a high demand for industrial silica sand due to the increasing urbanization industrialization and government. As major producers and consumers, the three nations combine to dominate the production of glass fiber in Asia: with China taking a singular lead in production and consumption because of large constructions and glass manufacturing industries. In India, due to rapid urbanization and smart city projects silica sand requirements for construction materials are on the rise, and similarly in Japan due to car and electronics manufacturing requirements for high-purity silica sand. The presence of raw materials, cheap labor, and a growing industrialization of the region also enhances its position in the global market.

In addition, the energy sector of APAC, especially China and India, is also enhancing the requirement of silica sand. The desire to have more and cheaper renewable energy power, especially from solar power, and hydraulic fracturing in the oil and natural gas sector are the major sucking forces. Policies from the government that have favored industrial development, for instance, China’s Belt and Road Initiative and India’s National Solar Mission have intensified requirements across end-use segments. It also expresses that the industrial silica sand market will continue to be dominated by the APAC region due to its strength in technological innovation and investment despite some problems such as environmental issues and mining constraints.

Industrial Silica Sand Industry Overview

The Industrial Silica Sand market is competitive and fragmented, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market include Mitsubishi Corporation, SCR Sibelco NV, Chongqing Changjiang River Moulding Material Group Co., Ltd., U.S. Silica Holdings, Inc., Quarzwerke GmbH, JFE Mineral & Alloy Company, Mangal Minerals, Badger Mining Corporation, Euroquarz GmbH, and Covia Holdings LLC.

Industrial Silica Sand Market News

• In April 2024, U.S. Silica Holdings, Inc. (NYSE: SLCA) (the “Company”), a diversified industrial minerals company and a leading last-mile logistics provider to the oil and gas industry entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo (NYSE: APO) (the “Apollo Funds”), one of the world’s premier investment firms, in an all-cash transaction that values the Company at an enterprise value of approximately $1.85 billion.

Industrial Silica Sand Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Industrial Silica Sand market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Industrial Silica Sand Market Analysis (2024-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of global Industrial Silica Sand were the three major steps undertaken to create and explore the adoption of Industrial Silica Sand in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, numerous findings and assumptions were taken into consideration to validate these insights. Moreover, exhaustive primary interviews were also conducted with industry experts across the value chain of the global Industrial Silica Sand market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of Industrial Silica Sand through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of Industrial Silica Sand, we conducted a detailed secondary analysis to gather historical market insights and share for different segments and sub-segments for major regions. Major segments are included in the report, such as Purity and Application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Industrial Silica Sand. Further, we conducted factor analysis using dependent and independent variables such as Purity and Application of Industrial Silica Sand market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Industrial Silica Sand sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Industrial Silica Sand market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Industrial Silica Sand across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Industrial Silica Sand market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Industrial Silica Sand market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Purity and Application in the global Industrial Silica Sand market.

The main objective of the Global Industrial Silica Sand Market Study

The current & future market trends of the global Industrial Silica Sand market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Industrial Silica Sand industry in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of Purity and Application
• Define and analysis of the regulatory framework for the Industrial Silica Sand industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Industrial Silica Sand market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Industrial Silica Sand market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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