Global Silica Sand Market to Reach US$ 10 Billion by 2024 – IMARC Group

“Global Silica Sand Market Rising Sales of Automobiles Impelling the Market Growth – IMARC Group”
The global silica sand market has witnessed moderate growth over the past few years. This can be attributed to the thriving construction and glass industries, increasing automotive sales, advancements in technology, and rising shale gas extraction.

As per the latest market research report by IMARC Group, entitled “Silica Sand Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global silica sand market size exceeded US$ 7 Billion in 2018, exhibiting a CAGR of around 8% during 2011-2018. Silica sand (SiO2), also known as industrial sand, refers to one of the commonly available varieties of sand across the globe. It is derived from quartz which breaks down into minute granules by the gradual movement of wind and water. Apart from quartz, silica sand also contains aluminum, feldspar and iron-bearing minerals. As silica sand is associated with advantageous properties like high strength, and resistance against heat and chemicals, it finds numerous applications in the construction industry. In addition to this, it is also utilized in water filtration, industrial casting, sandblasting, building roads, and paints and coatings.

Market Trends:

Owing to its mechanical properties, silica sand is widely used in the production of fiberglass which is further utilized in the automotive industry. Inflating income levels is boosting the sales of automobiles worldwide which, in turn, is influencing the growth of the silica sand industry. Moreover, governments worldwide are offering substantial subsidies for silica sand production which is contributing to the market growth. Apart from this, progress in technology has resulted in the introduction of lightweight glazing glass, advanced nanotechnology in flat glass, and solar control glazing for building glass. Further, several countries are shifting towards naturally available shale gas so as to reduce their dependence on crude oil. As shale gas is extracted through the process of hydraulic fracturing wherein silica sand is employed as a proppant, continuous development in the shale gas industry is spurring the demand for silica sand. Looking forward, the market value is projected to exceed US$ 10 Billion by 2024, expanding at a CAGR of nearly 6% during 2019-2024.

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Global Silica Sand Market Summary:

Market by End-Use

1. Glass Industry
2. Foundry
3. Hydraulic Fracturing
4. Filtration
5. Abrasives
6. Others

On the basis of end-uses, the market has been classified into glass industry, foundry, hydraulic fracturing, filtration and abrasives. At present, the glass industry represents the major market segment, holding the biggest share as silica sand plays a vital role in the production of standard as well as specialty glass.

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Performance of Key Regions

1. United States
2. Italy
3. Germany
4. Turkey
5. Australia
6. Others

Region-wise, the market has been divided into the United States, Italy, Germany, Turkey, Australia and Others. Amongst these, the United States is the leading market, accounting for the majority of the total market share. This can be accredited to the increasing utilization of silica sand as a dominant proppant material for hydraulic fracturing in the country.

Competitive Landscape

The competitive landscape of the market has been analyzed in the report along with detailed profiles of key players operating in the industry.

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