Silica Flour Market 2016 Drivers, Challenges, Key Regions and Forecast by 2024
Date: 2019-01-29   Author: Ronak Bora  Category: #market

Silica Flour Market 2016 Drivers, Challenges, Key Regions and Forecast by 2024

As per a recent industry report put forward by Global Market Insights Inc., Silica Flour Market is forecast to register its name in the million-dollar fraternity down the line of seven years, by exceeding a revenue of USD 650 million by 2024 with a projected CAGR of 7% over 2016-2024.

Silica flour gets consumed in fiberglass production and is widely used in renovation &construction industry. Fiberglass is widely used in construction sector owing to its better insulation properties as compared to other substitutes. Fiberglass has applications in transportation and construction industries for security and aesthetic purpose. Expanding automotive and construction industries owing to a surge in the global population are likely to propel the product market over forecast period.

It is used in plastics and mortar as a filler to improve its quality and reduce the tar required for mold filling. It acts as a coarse material in cleansers, skin care products, toothpaste, and paints. It also acts as a grout in some pharmaceutical products. Granulation of silica sand is done into a fine powder and is used in manufacturing the product. It has application in creation of tile, porcelain, earth, and glass. Rapid urbanization along with industrialization is expected to enhance the product market.

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The next preliminary factor that drives silica flour market consumption is the surge in glass demand. Glass market shall witness a potential growth due to expansion of construction industry. Climatic variations and improved standard of living have created innovative glass designs as per the consumer requirements. Increasing residential construction and commercial projects shall drive the product market. Increasing awareness regarding glass applications in commercial enterprises and packaging industry shall bolster the product market.

Silica flour became popular in cement and oil well applications and will contribute considerably to their markets in few years. It causes health hazards on continuous exposure. The global regulatory bodies have noted these consequences; hence, silica flour manufacturers changed regulations to maintain a safe work environment. This can lead to reduced profit margins and can hamper the product market in forecast period.

Fiberglass is the most prominent silica flour market application contributing to over 25%. Nowadays, fiberglass is applied to buildings considering the environmental regulations. Fiberglass maintains the building temperature by reducing heat exchange between the interior of the building and its surroundings. Vehicles use fiberglass to protect it from exterior surroundings and maintain a desirable temperature and privacy in the vehicle.

Sodium silicate contributes as another promising silica flour market application. It is better than many other alkaline salts in chemical and physical properties. It is affordable and is therefore used in many applications. It is majorly used as detergents, binders, anticorrosive, defocculates, zeolites, adhesives, cement, coagulant aids, and catalyst bases in industries.

Sodium silicate solves a wide range of problems in industrial processes if used economically and efficiently. Silica flour market shall witness growth in coming years owing to these flourishing sectors. Sodium silicate application shall witness gains of over 6% in revenue generation by 2024.

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Glass has numerous applications in many products of daily use. Glass has applications in renewable energy sources such as solar panels and wind turbines. It is widely used in medical technology, housing, packaging, tableware, electronics appliances, and biotechnology. Silica flour market shall flourish due to mounting glass usage in wide range of applications worldwide. Glass application had a market size of more than USD 45 million in 2015.

Key silica flour market participants include Sil Industrial Minerals, Inc. FINETON Industrial Minerals Ltd., AGSCO Corp., SCR-Sibelco N.V, Hoben International Limited, Adwan Chemical Industries Ltd., Premier Silica LLC, Opta Minerals Inc, Saudi Emirates Pulverization Industries Co, U.S. Silica Holdings, Inc.

 

About Global Market Insights

 

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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