Silica Flour Market to register substantial revenue via fiberglass applications over 2016-2024, APAC to majorly drive the product demand
Publisher : Fractovia | Published Date : 2017-05-26Request Sample
The rapid growth of the construction & automotive sectors across the globe is expected to augment silica flour market size, subject to the fact that this material is extensively used as a filler in plastics and mortar, which find applications in the construction sector. Silica flour is essentially finely ground crystalline silica that enhances the quality of mortar and plastics and finds usage in cleansers, skin products, paints, toothpaste, and pharmaceutical products. Pertaining to the fact that these products find applications in myriad end-user sectors such as chemicals, automotive, pharmaceuticals, construction, adhesives, and personal care, Silica flour market size is anticipated to cross a revenue of USD 650 million by 2024, growing at a CAGR of 7% over 2016-2024.
The demand for glass has risen considerably since the last few years, subject to its extensive usage across residential and commercial spaces. In addition, improved consumer lifestyles and weather fluctuations have led to the introduction of myriad innovations in the glass manufacturing industry, which deploys silica flour on a massive scale. Subject to the increasing usage of glass in numerous packaging and downstream commercial enterprises, silica flour industry will observe a notable growth rate over the next seven years.
Europe Silica Flour Market Size, By Application, 2013-2024 (USD Million)
Major companies operating in silica flour market prefer deploying tactics such as mergers and acquisitions to sustain their position in the global business space. In addition, it is expected that the product will find its way across the cement and oil sectors, which will give rise to numerous opportunities for silica flour industry players to diversify their product portfolio.
The U.S. houses the maximum number of companies operating in silica flour market. Key participants include Premier Silica LLC, International Silica Industries Company PLC, Saudi Emirates Pulverization Industries Co., Delmon Group of Co., Opta Minerals, Inc., AGSCO Corp., FINETON Industrial Minerals Ltd., SCR-Sibelco N.V., U.S. Silica Holdings, Inc., Hoben International Limited, Sil Industrial Minerals, Inc., and Adwan Chemical Industries Co., Ltd.
Silica flour is extensively used in sodium silicate, which is less expensive than alkaline salts and can be used as catalyst bases, binders, zeolites, deflocculates, adhesives, coagulant aids, and detergents. Subject to its beneficial characteristics, it is used in numerous industrial and chemical processes, which will impel silica flour industry from sodium silicate applications, slated to grow at a ret of 6% over 2016-2024.
Renowned automotive companies such as Mercedes-Benz and BMW AG have begun to penetrate the industrial construction sector, that demand the usage sodium silicate in the form of binders, chemicals, adhesives, detergents, and cement. This will lead to Europe silica flour market generating a significant revenue from sodium silicate applications over the next few years.
Fiberglass is extensively used for the construction of new buildings that are required to comply with regulatory norms pertaining to environmental safety. This is primarily due to the fact that fiberglass helps minimize the heat exchange between the building interiors and exterior surroundings, thereby maintaining the optimized building temperature. Subject to the aforementioned fact, fiberglass is heavily deployed across the constructions sector, which will impel silica flour market from fiberglass applications.
Fiberglass applications accounted for more than 25% of the overall silica flour industry share in 2015 and will grow lucratively over the years ahead. This growth can be primarily attributed to the thermal insulation properties of fiberglass and its ability to enhance vehicle comfort, on grounds of which it is used across the rapidly advancing automotive and renovation sectors.
Huge automotive giants such as Porsche AG, BMW AG, Audi AG, Mercedes-Benz, and Volkswagen AG have lately been implementing fiberglass in their vehicles to secure a competitive edge over their rivals. This will suitably favor Europe silica flour market from fiberglass applications, with Germany earning the tag of being a key revenue contributor.
The rubber industry demands the usage of amorphous silica and carbon black as reinforcing fillers, both of which are incorporated with silica flour. This material helps increase the strength and shelf life of tires. These tires also help curb GHG emissions into the atmosphere, subject to which silica flour market will earn lucrative revenue from carbon black and amorphous silica applications. The increase in the vehicle production and the growth of the rubber and automotive sectors will further impel silica flour market trends.
Due to the huge presence of giants such as Ford and General Motors, North America silica flour industry will register notable gains from the tire sector. Besides, the growth of the construction & renovation and renewable energy sectors in the U.S. will lead to an increase in the requirement for glass for buildings, malls, wind turbines, and solar panels, which will favorably impact the regional silica flour market revenue.
Besides solar panels and wind turbines, glass is used to manufacture fiber optic cables, electronics, domestic & industrial appliances, and tableware. It also finds applications in the medical technology, life science, packaging, and biotechnology sectors, owing to which silica flour industry from glass applications will observe a substantial growth rate over 2016-2024, having been valued over USD 45 million in 2015.
The Asia Pacific region will also witness a massive implementation of glass in the construction and renewable energy sectors, which will positively influence APAC silica flour market. APAC is slated to be one of largest consumers of silica flour, subject to the fact the region is experiencing a massive surge across the automotive, construction, personal care, and packaging sectors. China and India will be the key regions contributing toward the regional APAC silica flour industry.
Prolonged exposure to silica flour is likely to cause slight health hazards, subject to which regulatory organizations across the world have imposed certain restrictions regarding the handling and usage of this product. Leading silica flour market participants are required to follow these regulations with regards to workplace safety. For the reason that these impositions do not act as a restraint to silica flour industry, manufacturers will need to comply with these guidelines, in addition to expanding the application landscape of this market to sustain their business position.
