CHICAGO, April 6, 2021 /PRNewswire/ -- According to the new market research report "Silica Flour Marketby Type (Quartz, Cristobalite), End Use (Fiberglass, Foundry, Glass & Clay, Ceramic & Refractory, Oil Well Cement) and Region (North America, APAC, Europe, South America, Middle East & Africa) - Global Forecast to 2026", published by MarketsandMarkets™, the global Silica Flour Market size is projected to grow from USD 563 million in 2021 to USD 684 million by 2026, at a CAGR of 3.9% from 2021 to 2026. The market is projected to grow in accordance with the increase in the demand for silica flour for numerous applications, particularly for fiberglass and glass & clay production across the globe. Furthermore, the silica flour market has witnessed a significant increase in demand, owing to its demand as a good refractory material, across various end use industries.
In terms of value & volume, quartz is estimated to lead the silica flour market in 2020.
Quartz, by type, accounted for the largest market share in the silica flour market. Quartz silica, often called quartz sand, white sand, industrial sand, and silica sand includes sand with high silicon dioxide (SiO2) content. It is a hard, crystalline mineral that consists of silicon and oxygen atoms. Quartz is estimated to be the largest segment in the silica flour market in 2020. Quartz is extensively used in the production of paints, cosmetics, fiberglass, silicone rubber, and ceramic and in oil well cementing. The hardness, high density, and high chemical resistance offered by quartz flour are likely to contribute to the growth of this segment during the forecast period.
Fiberglass dominated the silica flour market in 2020, in terms of value and volume.
Fiberglass, by end use, accounted for the greatest demand for silica flour in 2020, in terms of value and volume. Fiberglass is a fiber-reinforced plastic in which the reinforcement material is a glass fiber. Properties such as high strength and low weight make fiberglass preferable for use in composite and insulation applications in the construction, automotive, and wind energy industries. The growth of this segment can be attributed to the keen interest of contractors and builders to use silica flour to produce fiberglass for construction activities (as a construction and insulation material), especially in the emerging economies of APAC and South America.
The North American region is projected to account for the largest share in the silica flour market during the forecast period.
The North American region is projected to lead the silica flour market in terms of both value and volume from 2021 to 2026. North America has witnessed a substantial upsurge in the tire industry due to the presence of automobile giants, such as General Motors and Ford Company. The growing tire industry has increased the consumption of silica flour as a reinforcing filler in this region. Additionally, the use of glass and silica flour for renewable energy resource applications such as solar cells and wind turbines has accelerated the growth of the silica flour market in the region.
Sibelco Group (Belgium), U.S. Silica Holdings, Inc. (US), Sil Industrial Minerals (Canada), Adwan Chemical Industries Company (Saudi Arabia), International Silica Industries Co. (Jordan), Hoben International Limited (UK), Premier Silica LLC (US), Knouz (Egypt), and AGSCO Corporation (US), amongst others, are the key players operating in the silica flour market.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.