Silica flour market is gaining substantial traction with the development in the construction industry across the globe. Rapid industrialization and urbanization have led to an increase in the constructional activities, parallelly fueling the demand for the product. Another major sector which has propelled the product consumption is the glass market. Climatic variations, improved living standards, and enhanced lifestyles have resulted in an extension in innovating new glass designs as per consumer requirements. With silica flour being a major ingredient used in glass and fiberglass production, this industry is certain to witness a proportional growth with the surge in glass demand. As per Global Market Insights, Inc., “Silica flour market having had a revenue of USD 350 million, is slated to exceed USD 650 million by 2024 at 7% CAGR over 2016-2024.”
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Silica flour market is witnessing a remarkable expansion from fiberglass applications. Statistics depict, fiberglass dominated the application landscape in past years, by covering almost one-fourth of the market. These particular categories of glasses are nowadays extensively deployed in modern buildings in order to comply with the environmental regulations. It reduces the heat exchange between the interior and the surrounding and thereby, maintains the building temperature. Nowadays, upgraded vehicle models are also using fiberglass for the same purpose. Rising implementation of fiberglass across a wide range of end-use sectors is expected to augment the overall silica flour market growth in the coming years.
Regionally, Asia Pacific holds a prominent position in the global market considering its volume coverage. China’s increasing constructional spending can be majorly credited for this regional market growth. Taking into consideration the increasing demand for fiberglass in constructional sector across this belt, APAC silica flour market is anticipated to chart a profitable road map in the years ahead.
North America silica flour market demand will also experience a substantial upsurge from automobile industry. Concentration of automotive giants in this belt has increased the product consumption as silica flour is widely used as a reinforcing filler in the tires of the vehicle. Furthermore, the initiatives taken by the U.S government to utilize renewable energy sources have also fueled the fiberglass usage application, in turn stimulating the silica flour market share.
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Although the environmental threats associated with the silica flour market is somewhat hampering its growth curve, yet the growing penetration of its application across myriad end use industries will open up lucrative opportunities for the market. Some of the prominent silica flour industry participants include FINETON Industrial Minerals Ltd., SCR-Sibelco N.V, AGSCO Corp., Hoben International Limited, Premier Silica LLC, Adwan Chemical Industries Ltd., and Opta Minerals Inc.
Browse key industry insights spread across 129 pages with 103 market data tables & 11 figures & charts from the report, “Silica Flour Market Size By Application (Sodium Silicate, Fiberglass, Cultured Marble, Additive, Reinforcing Filler, Foundry Work, Ceramic Frits & Glaze, Oilwell Cements, Glass & Clay Production), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
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