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Growing demand for fiberglass to reinforce silica flour market size through 2024 | By key players U.S. Silica Holdings Inc, Premier Silica LLC, SCR-Sibelco N.V., AGSCO Corp, Delmon Group
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Fiberglass, which is manufactured by using silica flour is experiencing high demand as its aids in maintaining the building temperature by reducing heat exchange between the interior of the building and its surroundings. Automotive manufacturers also employ fiberglass to ensure desirable indoor temperature as well as privacy in the vehicle.
With excellent insulation properties as compared to other substitutes, fiberglass is widely used across buildings. The product not only adds to the aesthetics of a structure, but also meets many security concerns. Surging global population and associated need for new construction is likely to propel product demand in the coming years. It has been projected that silica flour market size will exceed USD 650 million by 2024, globally.
Silica flour is used in production of mortar and plastics as a filler to improve the final product quality as well as to reduce the tar needed for mold filling. The product is also utilized as a coarse material in skin care products like tooth paste and cleansers and in paints. Silica flour also acts as a grout in various pharmaceutical products. By granulation of silica into a fine powder, it is used in manufacturing glass, tile and porcelain products.
Sodium silicate is better than various other alkaline salts in terms of chemical and physical properties and is majorly used for binders, detergents, anticorrosive, adhesives, deflocculates, cement, zeolites, catalyst bases and coagulant aids in industries. The product is likely to experience heavy demand due to its affordability and use in various applications.
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Escalating demand for glass
One of the key factors resulting in surge of silica flour consumption is the escalating demand for glass. A growing construction industry across the globe is bolstering the demand for glass panels and other products, which in turn offers significant potential for silica flour industry expansion. Higher standard of living and constant climatic variations have prompted manufacturers to create innovative glass designs as per the consumer requirements. Moreover, rising adoption of glass in packaging industry and commercial enterprises may fuel product consumption.
Glass is also used in renewable energy projects such as wind turbines and solar panels. It also finds application in medical technology, housing, tableware, biotechnology and electronics appliances. In 2015, glass application accounted for a revenue of over USD 45 million for the silica flour market.
Health hazards
Silica flour market is likely to experience a setback due to the health hazards of the product on continuous exposure. Regulatory bodies across the globe have noted these consequences in various workers in silica flour industries. This has prompted manufacturers to employ new techniques to maintain a safe working environment. This can lead to reduced profit margins and may hamper industry growth to some extent.
Related News:
https://www.marketwatch.com/press-release/neopentyl-glycol-market-size-is-estimated-to-exceed-usd-15-billion-by-2025-2020-06-26
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