Silica Flour Market - Positive Long-Term Growth Outlook 2023
Over the coming years, the competition among participants is likely to be further reduced by the limited scope of differentiation. However, the leading manufacturers are focusing aggressively on establishing dedicated distribution channels across the world in order to deter the threat of a declined market share. Along with this, producers are also trying to enter into direct selling of silica flour in order to understand the needs of end users and, consequently, increase the sales.
This 157 page report gives readers a comprehensive overview of the Silica Flour market. Browse through 49 data tables and 23 figures to unlock the hidden opportunities in this market@
Rising Application of Fiberglass Impels Demand for Silica Flour
Silica flour finds widespread applications the production of fiberglass. “The recent rise in various industries, such as building and construction, consumer goods, transportation, and wind turbines, has increased the industrial application of fiberglass, which, in turn, has fueled the demand for silica flour significantly and will continue to do so over the forthcoming years,” says an analyst at TMR.
Along with this, the demand for silica flour has also been impelled by the ongoing expansion in the foundry (metal casting) industry. Due to its purity, consistent sizes and shapes of particles, chemically inert nature, and compatibility with chemical binders, silica flour is widely utilized in steel foundries in order to obtain the required tensile strength, high resistance to metal penetration, and improved temperature sustainability in cores.
Health and Environmental Threats of Silica Flour to Hamper its Demand
Although the market looks thriving at large; a number of factors are expected to slow down the demand for silica flour, obstructing the market’s growth trajectory. The main one among them is the health and environmental threats associated with silica flour. The presence of microparticles in silica flour makes it considerably injurious for workers, who are continuously exposed to it, increasing the risk of diseases such as silicosis, bronchitis, and tuberculosis.
Nonetheless, the growing application of silica flour in high temperature cementing is likely to create lucrative opportunities for silica flour producers over the next few years.
Asia Pacific to Report Strongest Demand for Silica Flour
According to the report, the opportunity in the global silica flour market was worth US$338.1 mn in 2014. Rising at a CAGR of 7.0% between 2015 and 2023, it is expected to increase to US$618.0 mn by 2023. In terms of volume, the market is likely to expand at a CAGR of 6.10% during the forecast period.
Get accurate market forecast and analysis on the Silica Flour market. Request a sample to stay abreast on the key trends impacting this market@
Asia Pacific led the demand for silica flour in 2014 with a share of more than 46%. Driven by the soaring demand for fiberglass in the construction and the transportation industries, the region is likely to continue its leading streak in the coming years. The Middle East and Africa is also expected to witness a steady increase in the demand for silica flour over the next few years. Fiberglass, among all the application areas, will continue to report the strongest demand for silica flour in the near future.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Silica Flour Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
The top three silica flour producers accounted for a share of 32.1% in 2014
Asia Pacific led the demand for silica flour with a share of more than 46% in 2014
In terms of volume, the global silica flour market is likely to expand at a CAGR of 6.10% between 2015 and 2023
The report segments the global silica flour market as follows:
Ceramic frits & glaze
Glass & clay production
Others (Including pharmaceutical applications)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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Silica Flour Market - Research Report
The demand for silica flour has been increasing significantly, thanks to the rise in construction activities across the world. The rapid industrialization as well as urbanization has influenced the global construction industry considerably, fueling the application of glass and fiberglass. Since silica flour plays a major role in the production of glass and fiberglass, its demand has soared worldwide. Analysts project this trend to continue over the next few years.