Press release
Industrial Silica Market Overview, Dynamics, Trends, Segmentation, Key Players 2025
Industrial silica is a high value product used in the production of numerous products, of which fiberglass is a chief one. Fiberglass finds applications in several end-use industries on account of its excellent mechanical and functional properties. Due to these properties, production of fiberglass is subsidized in several countries such as in China, to be exported to Europe and North America.
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Amongst several factors driving the global industrial silica market includes expanding construction sector, rising demand for renewable energy, installation of wind turbines, and oil well cementing operations in oil and gas industry.
A report by Transparency Market Research projects the global industrial silica market to rise at a CAGR of 6.6% between 2017 and 2025 for the market’s valuation to reach US$32.98 bn by 2025. The market was evaluated at US$18.75 bn in 2016.
Fiberglass to Remain Key Application Segment
Depending upon application, the segments into which the global industrial silica market is divided are sodium silicate, cultured marble, fiberglass, additive, reinforcing filler, foundry work, oilwell cement, ceramic frits & glaze, glass & clay production, and others. Fiberglass held more than 25% of the global industrial silica market in 2016 volume-wise. Fiberglass, additives, and glass and clay applications are expected to mainly drive the market over the forecast period. The reinforcing filler application segment of the market is projected to expand at a CAGR of 6.7% between 2017 and 2025 vis-à-vis revenue.
Sodium silicate and glass and clay production held significant share in the global industrial silica market in 2016.
Presence of Manufacturing Facilities of Key Companies to Bolster Growth in North America
The key segments of the global industrial silica market based on geography are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, Asia Pacific led the market in 2016 accounting for more than 40% of the overall market in terms of both volume and revenue. China is one of the key producers of industrial silica in the region with the country accounting for 35% volume share of the regional market in 2016. Significant demand from fiberglass, glass and clay, and foundry is majorly driving the industrial silica market in the region. Sodium silicate, fiberglass, and glass and clay production applications cumulatively held a share of nearly 55% of the Asia Pacific industrial silica market in 2016. However, additive, foundry, and fiberglass are expected to account for significant contribution to the growth of this regional market over the forecast period.
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North America trailed Asia Pacific in 2016 in terms of volume share in the global market. However, the region is expected to outpace other regions in terms of growth rate over the forecast period. The presence of manufacturing facilities of several key companies in the U.S. and Canada is a key factor behind the growth of North America industrial silica market.
Europe is expected to display a relatively slow growth rate over the forecast period. Germany, France, and the U.K. are key domestic markets that collectively held more than 45% of Europe industrial silica market in 2016.
The Middle East and Africa and Latin America are anticipated to collectively hold more than 8% of the overall market by 2025.
Some of the key players that operate in the global industrial silica market are Premier Silica LLC, U.S. Silica Holdings Inc., Adwan Chemical Industries Co. Ltd, Saudi Emirates Pulverization Industries Company, Opta Minerals Inc., AGSCO Corporatio, FINETON Industries Minerals Limited, Sil Industrial Minerals Inc., International Silica Industries Company plc, Delmon Group of Companies, Al Marbaie Est., Short Mountain Silica, and Al-Rushaid Group.
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