Environmental silica, also known as industrial sand, is a product that is mined from the earth and then processed to manufacture materials like glass, construction materials and computer chips among others. It provides critical functions like filtering, abrasiveness and strength. With rapid industrialization in Asia Pacific and other developing regions, there is an increasing demand for products manufactured using environmental silica. The global Environmental Silica Market is estimated to be valued at US$ 2.45 Bn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rapid industrialization in developing regions of Asia Pacific and Latin America is one of the key factors propelling the demand for environmental silica. Countries like China, India and others are witnessing strong growth in construction and manufacturing industries. This is leading to higher consumption of products requiring environmental silica as a raw material. For example, the booming construction industry in China and India uses large amounts of construction materials like cement, bricks and tiles which utilize environmental silica. The increasing construction activities in these populous developing nations are expected to drive the environmental silica market substantially over the forecast period.
SWOT Analysis
Strength: Environmental silica has wide range of industrial applications such as sealants, caulk, insulation and hydraulic fracturing. It is abundantly available in nature and helps reduce the cost of operations.
Weakness: Increased health concerns due to silica dust exposure during mining and processing operations. Complex regulatory approvals required for land acquisitions and mining projects.
Opportunity: Growing demand for proppants in oil & gas industry due to increasing shale gas & tight oil production activities worldwide. Emerging applications in wastewater treatment plants, construction, ceramics and filtration industry.
Threats: Volatility in crude oil prices affecting shale gas drilling activities. Stringent environmental regulations regarding silica mining in various countries.
Key Takeaways
The global Environmental Silica market is expected to witness high growth. Regional analysis comprises
The North America region currently dominates the environmental silica market owing to presence of key proppant consumers in the US and Canada. Asia Pacific is expected to grow at fastest pace during the forecast period due to increasing exploration & production activities in China, India and Australia.
Key players operating in the Environmental Silica market are U.S. Silica Holdings Inc., Sibelco Group, Fairmount Santrol Holdings Inc., Emerge Energy Services LP, Badger Mining Corporation, Covia Holdings Corporation, Preferred Sands LLC, Hi-Crush Partners LP, SCR-Sibelco N.V., Pattison Sand Company.
The global Environmental Silica market size was valued at US$ 2.45 Bn in 2023 and is expected to reach US$ 5.52 Bn by 2030, expanding at a CAGR of 9.8% during the forecast period. Growing proppant consumption from oil & gas industry and rising application scope in various industrial sectors are the major factors driving the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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