ALBANY, New York, August 1, 2017 /PRNewswire/ --
Transparency Market Research has released a new market report titled "Industrial Silica Market for Sodium Silicate, Fiberglass, Cultured Marble, Additive, Reinforcing Filler, Foundry Work, Ceramic Frits & Glaze, Oil well Cements, Glass & Clay Production and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025." According to the report, the global industrial silica market was valued at US$ 18.75 Bn in 2016 and is projected to reach US$ 32.98 Bn by 2025 at a CAGR of 6.6% from 2017 to 2025.
Industrial silica is manufactured by grinding industrial sand into desired size. Industrial silica is widely used as a chemical intermediate to manufacture numerous products. Some of the major applications include sodium silicate, fiberglass, cultured marble, and additive, reinforcing filler, foundry, ceramic frits & glaze, oil well cements, glass and clay production. Rising demand for industrial silica from fiberglass and foundry application is anticipated to drive industrial silica market. However, health hazards associated with the production of silica flour is expected to hinder the market growth during the forecast period. Application in high temperature oil well cementing are likely to bring new opportunities in industrial silica market.
Fiberglass application accounted for more than 25% volume share in global industrial silica market in 2016. Fiberglass is used as an insulation material in commercial and residential building. Hence, expanding construction industry is projected to boost fiberglass application in overall industrial silica market from 2017 to 2025. Sodium silicate and glass & clay production held significant share in global industrial silica market in 2016. Fiberglass, additives and glass & clay application segment are anticipated to drive the market during the forecast period. Industrial silica is used as a reinforcing filler in plastic and rubber industry. In terms of revenue, the application is projected to grow at a CAGR of 6.7% between 2017 and 2025.
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Asia Pacific dominated the global industrial silica market and accounted for more than 40% in terms of volume and revenue in 2016. Significant demand from fiberglass, glass & clay and foundry application is expected to drive industrial silica market in the region. Asia Pacific was followed by North America in 2016 in terms of volume. North America is projected to grow at a faster pace during the forecast period. Fiberglass is widely used owing to its phenomenal functional and mechanical properties. Hence, widely used in automotive industry. Middle East & Africa and Latin America are anticipated to hold together above 8% share by 2025.
The global industrial silica market is fragmented with numerous producers in each region. Some of the major manufacturers include Premier Silica LLC, Silica International Silica Industries, Sil Industrial Minerals Inc., Delmon Group of Companies, U.S. SILICA, AGSCO Corporation, Al-Rushaid Group, FINETON Industrial Minerals Limited and Saudi Emirates Pulverization Industries Company (SEPICO) among others.
The global industrial silica market has been segmented as follows:
- Industrial Silica Market - By Application
- Sodium Silicate
- Cultured Marble
- Additive (Paints, etc.)
- Reinforcing filler (plastics, rubber, etc.)
- Foundry work (metal alloy, etc.)
- Ceramic frits & glaze
- Oilwell Cement
- Glass & Clay Production
- Others (Pharmaceutical)
- Industrial Silica Market - Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- North America
Browse Research Press Release: http://www.transparencymarketresearch.com/pressrelease/industrial-silica-sands-market.htm
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