According to the latest report by IMARC Group, titled "Asia Pacific Silica Sand Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the Asia Pacific silica sand market size reached a value of US$ 5.21 Billion in 2020. Silica sand is a commonly utilized variety of sand that is widely used for industrial purposes. Also known as industrial sand, it is derived from quartz that eventually breaks down into minute granules by the gradual movement of water and wind. It also comprises other compounds, such as iron oxides, feldspars, carbonates and clay minerals. It is commonly characterized by excellent strength, enhanced resistance against heat and chemical reactions, and high granularity. As a result, it finds extensive applications in numerous application segments, including water filtration, building roads, industrial casting, sandblasting, glassmaking, hydraulic fracturing, and the manufacturing of paints and coatings, across a vast array of industrial segments.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Asia Pacific Silica Sand Market Trends:
The market in the Asia Pacific is primarily driven by the increasing utilization of silica sand in glass and foundry industries. There has been a rising demand for high purity silica sand for the production of photovoltaic (PV) panels and silicon-metal composite materials. Supported by the various initiatives undertaken by several governmental and non-governmental organizations (NGOs) to promote the use of solar energy, there has been a rising demand for the installation of glass-based PV modules in the region. This, coupled with the rapid development of solar infrastructures in the Asia Pacific region, is expected to provide an impetus to the market growth. Moreover, silica sand is widely utilized in the production of fiberglass, which is further employed as an essential component in the automotive industry. With the rising population growth in the region and the inflating per capita income levels of the masses, there has been a considerable rise in the sales of cost-efficient cars, which, in turn, is creating a positive outlook for the market. This is also supported by the escalating production of automobiles due to the presence of numerous key automotive players in the region. The market is further driven by the rapid expansion of residential and commercial sectors in the region, that employs silica sand as a key construction material. Apart from this, numerous players are now integrating advanced technologies in the production process to manufacture lightweight glazing glass. This, coupled with the rising utilization of nanotechnology in the manufacturing of flat glass, is expected to create a positive outlook for the market. Some of the other factors contributing to the market growth include considerable growth in the consumer electronics sector that employs specialty glass for the production of various products and the increasing product utilization in hydraulic fracturing for shale gas exploration activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 8.47 Billion by 2026, exhibiting a CAGR of 8.43% during 2021-2026.
- On the basis of the end use, the market has been divided into glass industry, foundry, hydraulic fracturing, filtration, abrasives, and others.
- On the geographical front, the market has been segmented into China, India, Malaysia, South Korea, Japan, Australia and others.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Chongqing Changjiang River Moulding Material (Group) Co. Ltd, Diatreme Resources Limited, JFE Mineral Company Ltd., Mangal Minerals, Mitsubishi Corporation, PUM Group, Raghav Productivity Enhancers Limited, Rock Energy International, TOCHU Corporation, VRX Silica Limited, and Xinyi Golden Ruite Quartz Materials Co., Limited.
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