The global silica flour market was valued at USD 581.2 million in 2022 and is projected to reach USD 799.7 million by 2030, with a CAGR of 4.1% from 2023 to 2030. This growth is driven by its diverse applications across a wide range of industries.
Silica flour, a finely ground form of silica sand, is prized for its exceptional purity and high silica content, making it a critical raw material in various manufacturing processes. A major factor fueling the increased demand is the booming construction and infrastructure sectors, where it is a key component in producing concrete, mortars, and grouts. For context, the global construction market experienced substantial expansion, growing from USD 6.4 trillion in 2020 to USD 8.2 trillion in 2022.
The unique properties of silica flour, such as enhanced strength, durability, and chemical resistance, make it an ideal additive in these applications. Furthermore, the electronics industry's product demand has surged due to its use in manufacturing semiconductors and optical fibers. The pharmaceutical and cosmetics industries are also using more silica flour as an excipient to improve the flow and stability of their formulations. These wide-ranging benefits and growing applications across diverse sectors are expected to continue driving product demand in the coming years.
Key Market Insights:
- Regional Dominance: Asia Pacific held a dominant revenue share of over 38% in 2022, a position attributed to the expanding construction, fiberglass, foundry, and personal care & cosmetics industries in the region.
- Market by Type: The quartz segment was the market leader by type, accounting for a revenue share of over 69% in 2022. This is because the quartz type significantly influences the physical and chemical properties of the silica flour, including its particle size and reactivity.
- End-Use Application: The fiberglass segment was the leading end-use application, with a market share of over 24% in 2022. This is due to silica flour's widespread use as a reinforcement agent in fiberglass manufacturing.
Order a free sample PDF of the Silica Flour Market Intelligence Study, published by Grand View Research.
Market Size & Forecast
- 2022 Market Size: USD 581.2 Million
- 2030 Projected Market Size: USD 799.7 Million
- CAGR (2023-2030): 4.1%
- Asia Pacific: Largest market in 2022
Key Companies & Market Share Insights
To enhance their market presence, companies in the competitive silica flour industry are implementing various strategic initiatives. Sibelco's recent activities highlight this trend, with two key acquisitions aimed at strengthening its European position. The company's acquisition of Kremer Zand en Grind (KZG), a Dutch producer, in March 2023, expanded its customer base and secured additional silica sand reserves and resources in Western Europe. Furthermore, the acquisition of Echasa S.A., a mining company in Northern Spain, enables Sibelco to grow its customer base in the glass, foundry, and construction sectors while also extending its Western European silica sand reserves. These strategic acquisitions demonstrate a clear commitment to growth and market consolidation within the European region.
Key Players
- S. Silica Holdings, Inc.
- Fineton Industrial Minerals Limited
- Sibelco
- Capital Sand Company
- Hoben International Ltd.
- AGSCO Corporation
- Sil Industrial Minerals
- Adwan Chemical Industries Co. Ltd.
- 3M
Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.
Conclusion
The global silica flour market is experiencing growth driven by its versatile use in construction, electronics, pharmaceuticals, and cosmetics. Asia Pacific is the leading market, with quartz being the dominant product type and fiberglass the primary end-use application. Key companies are expanding their market presence through strategic acquisitions.
No comments:
Post a Comment