Transparency Market Research Silica Flour Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Published Date 2015-10-09
157 Page Report
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Increase in Industrial Applications of Fiberglass to Create Lucrative Opportunities for Silica Flour Producers, Reports TMR Transparency Market Research State Tower, 90, State Street, Suite 700. Albany, NY 12207 United States www.transparencymarketresearch.com sales@transparencymarketresearch.com
Silica Flour Market
REPORT DESCRIPTION The demand for silica flour has been increasing significantly, thanks to the rise in construction activities across the world. The rapid industrialization as well as urbanization has influenced the global construction industry considerably, fueling the application of glass and fiberglass. Since silica flour plays a major role in the production of glass and fiberglass, its demand has soared worldwide. Analysts project this trend to continue over the next few years.
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The opportunity in the global silica flour market stood at US$338.1 mn in 2014. Expanding at a CAGR of 7.0% during the period from 2015 to 2023, it is expected to reach US$618.0 mn by the end of 2023.
Asia Pacific to Remain Dominant Consumer of Silica Flour
The global silica flour market can be geographically segmented into Asia Pacific, North America, Latin America, Europe, and the Rest of the World. Asia Pacific, among these, has emerged as the key consumer of silica flour due to the rise in the glass and fiberglass industries. In 2014, the region accounted for a share of nearly 47% in the overall market. Experts project Asia Pacific to retain its position during the period from 2015 to 2023.
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Silica Flour Market
North America and Europe closely followed Asia Pacific in 2014. However, both the regions are anticipated to experience a decline in their market shares, registering moderate growth rates over the next few years. The recent economic slowdown and the sluggish pace of the recovery is the key factor that will affect the demand for silica flour in both the regions in the years to come. In similar fashion, Latin America is also expected to witness a declining demand for silica flour with market share dropping to 2.7% by 2023.
On the other hand, the Middle East and Africa market is likely to exhibit a remarkable rise in the demand for silica flour in the near future. The rising urbanization in the countries in the Middle East and Africa, such as Brazil, Argentina, and Chile, is expected to increase construction activities. As a result, the demand for glass and fiberglass will increase significantly in the coming years, creating the demand for silica flour.
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Rising Application of Fiberglass in Construction Activities to Fuel demand for Silica Flour
Oilwell cements, foundry work, reinforcing filler, additive, fiberglass, sodium silicate, ceramic frits and glaze, cultured marble, glass and clay production, and pharmaceutical applications are the prime application areas of silica flour. Among these, the demand for silica flour is the strongest in the production of fiberglass.
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Silica Flour Market
In 2014, fiberglass accounted for a share nearly 30% in the overall consumption of silica flour. The demand for silica flour in the fiberglass segment is highly driven by the growing application of fiberglass as a construction and insulation material. Analysts at TMR expect this segment to remain the leading consumer of silica flour, supported by the exponential surge in construction activities across the world.
The demand for silica flour is also expected to witness a rise in the glass and clay production segment in the near future. Glass production, particularly, is likely to exhibit significant demand for silica flour over the coming years. The growing requirement for technically advanced glass in consumer electronics, such as television, mobile phones, and laptops, is anticipated to boost the application of silica flour in the production of glass.
The global market for silica flour is led by Premier Silica LLC, U.S. Silica Holdings Inc., and SCRSibelco N.V. In 2014, these players held a share of around 32% in this market. Some of the other prominent participants in this moderately fragmented market are Opta Minerals Inc., Sil Industrial Minerals Inc., Saudi Emirates Pulverization Industries Co., FINETON Industrial Minerals Ltd., Delmon Group of Co., and AGSCO Corp.
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