Stratview Research delivers key insights on the global Silica Flour Market. According to Stratview Research, the market is segmented by Application Type (Sodium Silicate, Fiberglass, Cultured Marble, Additive, Reinforcing Filler, Foundry Work, Ceramic Frits & Glaze, Oil Well Cements, Glass & Clay Production, and Others) and by Region (North America, Europe, Asia-pacific, RoW)
The report also covers the Covid impact on the market. Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and an uptrend is witnessed from 2021.
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Market Insights
The report suggests that the overall Silica Flour Market is likely to witness an impressive CAGR of 7.5% during the forecast period. The growth of the market is being fueled by rising glass demand and the growing construction industry. Improved living standards, better-quality lifestyles, and variations in climate have prompted the glass industry to innovate on a regular basis in response to consumer demand. The use of glass in downstream commercial organizations and packaging applications will increase the silica flour demand. The product will have widespread applications in the oil well industry in the coming years.
Market Segments' Analysis
Based on the application type, the market is segmented as sodium silicate, fiberglass, cultured marble, additive, reinforcing filler, foundry work, ceramic frits & glaze, oil well cements, glass & clay production, and others. Fiberglass is expected to hold the largest share of the market during the forecast period on account of its extensive utilization in multiple and diverse industries, such as in the construction and automotive industries. In addition, sodium silicate is estimated to register high growth in the market over the forecast period, as it has a wide range of applications due to its low cost as compared to other alkaline salts.
In terms of regions, Asia-Pacific is estimated to be the leading region in the silica flour market during the forecast period. The growth of the region’s market is driven by the food & beverages, personal care products, and electronics sectors, which are rapidly growing in the region and in turn, have increased the consumption of glass. Also, increasing usage of fiberglass and the growing automotive industry in North America are expected to fuel the growth of the North American silica flour market during the forecast period.
Key Players
The following are some of the key players in the Silica Flour Market:
· Adwan Chemical Industries Co. Ltd.
· AGSCO Corporation
· Delmon Group of Companies
· Fineton Industrial Minerals Ltd.
· Hoben International Ltd.
· Opta Minerals Inc.
· Premier Silica LLC
· SCR-Sibelco NV
· Sil Industrial Minerals Inc.
· U.S. Silica Holdings, Inc.
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