Industrial Silica Market : Progresses for Huge Profits During 2017 – 2025

The growth of the global industrial silica market is chiefly driven by the increasing demand for industrial silica for the manufacture of fiberglass. Fiberglass is widely used across numerous end-use segments because of its outstanding mechanical properties such as highs strength, resistance to heat and corrosion, and low weight. Owing to these properties, many governments such as in China are offering substantial subsidies for the production of fiberglass. This has considerably spurred the demand for fiberglass and thus in turn propelled growth of the global industrial silica market. Another important driving factor for the growth of the global market is the rising demand for industrial silica from the steel foundries. With many beneficial features such as chemical inertness, high purity, consistent particle shape and size, and easy compatibility with other chemical binders, the demand for industrial silica has surged in the steel foundry segment. Development of the foundry sector thus, will boost the growth of the global industrial silica market.

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The global silica market stood at an overall valuation of US$18.75 bn in the year 2016. The global revenues of the industrial silica market are estimated to rise up to US$32.98 by the end of the forecast period of 2017 to 2025. This growth is expected to be achieved at a CAGR of 6.6% over the course of the given forecast period.

Fiberglass to Remain Important Application Segment of Global Industrial Silica Market

In terms of applications of the global industrial silica market, fiberglass segment stands out with respect to other segments such as addictive, foundry work, reinforcing filler, sodium silicate, oil-well cement, cultured marble, glass and clay production, and ceramic frits & glaze among others. Fiberglass segment has been gaining traction across the world because of its excellent mechanical properties. It held over 25% of the overall market share in terms of volume of the global industrial silica market in 2016. Along with the segment of fiberglass, other segments such as glass & clay and additives are also expected to drive the global industrial silica market in the coming years. The application segment of reinforcing filler is expected to grow at a healthy CAGR of 6.7% during the course of forecast period of 2017 to 2025 in relation to revenues. In addition to this, glass and clay production and sodium silicate also held a substantial share in the global market of industrial silica in 2016.

Presence of Large Number of Manufacturing Plants to Speed up Growth Rate of North America

Geographically, the global industrial silica market can be divided into key regions such as Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. Among the mentioned segments, Asia Pacific dominated the market in the year 2016 and accounted for over 40% of the overall market share related to both revenue and volume. China has emerged as one of the key manufacturers of industrial silica in the Asia Pacific region with it accounting for nearly 35% of the total volume share of the Asia Pacific market in 2016. There has been a considerable demand from multiple segments such as foundry, fiberglass, clay and glass. This has chiefly driven the industrial silica market in the region. Application segments such as sodium silicate, glass & clay production, and fiberglass jointly held almost 55% of the overall market share of the Asia Pacific industrial silica market. However, in the coming years of the forecast period, segments such as additive and foundry are expected to contribute significantly to the development of Asia Pacific market for industrial silica.

North America market was next in line after Asia Pacific in terms volume share. However, it is projected that North America will surpass other regions with respect to growth rate in the coming years owing to large number of manufacturing plants of several prominent companies in Canada and the U.S.

Some of the key companies in the global industrial silica market include names such as Saudi Emirates Pulverization Industries Company, International Silica Industries Company Plc., Short Mountain Silica, AGSCO Corporation, and FINETON Industries Minerals Limited among others.

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Ganesh Rajput

As one of the lead news writers on CMFE News, Ganesh’s specialization lies in the science and technology domains. His passion for the latest developments in cloud technology, connected devices, nanotechnology, and virtual reality, among others, shines through in the most recent industry coverage he provides. Ganesh’s take on the impact of digital technologies across the science, technology, and business domains gives his writing a fresh and modern outlook.

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