USD 559.79 million
Report ID: SQSG15F2003 | Region: Global | Published Date: April, 2023 | Pages: 260 | Tables: 42 | Figures: 78
Global Silica Flour Market size was valued at USD 559.79 million in 2021 and is poised to grow from USD 591.59 million in 2022 to USD 917.62 million by 2030, growing at a CAGR of 5.64% in the forecast period (2023-2030).
Silica flour consumption has been expanding quickly in recent years due to its broad range of beneficial qualities. The mineral silicon dioxide is transformed into a fine powder called silica flour, which has several uses in both industrial and commercial settings. For instance, silica flour can be used as a filler or as an abrasive in a variety of products. The high degree of purity and heat resistance of silica flour make it excellent for usage in a variety of industries such as in cosmetic and pharmaceutical industries e.g. Breast implants. Also, silica fume particles have a high water demand and have an ability to absorb the excess amount of water because of this property it is used in the oil well cementing process. As demand for oil and gas products has increased in recent years which is a result of rising energy and fuel requirements have made many countries including the U.S, Russia, and India develop new oil wells thereby benefiting the growth of the industry. The countries in the region of the Middle East such as Iran, Kuwait, and Saudi Arabia which contribute to the largest part of oil economies are benefited from the usage of Silica flour in oil well cementing.
Silica is also used in the production of Fiberglass which is used in the automotive and construction sector in maximum percentage all over the world, the majority in North America due to rising modernization and construction followed by the Asia Pacific due to rising electricity demand. Thus, the rising modernization and technological advancements will facilitate the growth of the Silica Flour Market. Although silica has a wide variety of usage in various sectors, there are risks associated with it. Inhalation and retention of siliceous particles in the lungs can cause severe pulmonary diseases. It is estimated that around 2.5 million workers are regularly exposed to silica flour worldwide. Thus, this becomes a backdrop and can hinder the growth of the market.
US Silica Flour Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 559.79 million
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The Global Silica Flour Market is segmented based on the Application, and Region. Based on the Application, the Global Silica flour market is segmented as paints and coatings, adhesives, polymers, glass, ceramics, fused silica, oil well cementing, and others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Silica Flour Market Analysis by Application
Based on the Application, the Global Silica Flour Market is segmented as paints and coatings, adhesives, polymers, fiberglass, ceramics, fused silica, oil well cementing, and others. Among these, the fiberglass segment dominated the global silica flour market. Due to its high toughness and low weight, and perfect for usage in composites and insulation uses in the building, automobile, and wind and solar industries. The fiberglass market is also being driven by builders and contractors who are very interested in employing silica flour to create fiberglass for construction projects, particularly in developing nations. To prevent the comfort of the car from being impacted by the outside environment, fiberglass is very frequently utilized in automobiles. The market for the product will grow as fiberglass is used more frequently in a range of industries.
The paints & coatings segment is expected to experience the fastest growth among the applications throughout the projection period. Along with the previously mentioned advantages, the inclusion of grounded silica enhances the critical properties of paints, including reflectivity, brightness, and color constancy. Additionally, it increases tent retention, provides resistance to dirt, mildew, wilting, and decomposition brought on by climatic changes, and is incorporated into architecture paints as a filler. This flour is predicted to increase in market share over the course of the forecast period since it enhances numerous qualities of paints and coatings.
Fused silica, on the other hand, is made by melting extremely pure silica sand. It is an essential raw material in the production of optical fiber, which is heavily used in the telecommunications sector. It is also used in the manufacturing of semiconductors and aeronautical products. Windows of manned spacecraft, such as the space shuttle and International Space Station, are made of fused silica. The substance is utilized to create erasable programmable read-only memory or EPROM, because of its UV transparency. Additionally, it is utilized in semiconductor production furnaces and SD optical data storage systems. The sector is predicted to hold a sizeable position in the market because of these well-known applications.
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Due to the enormous growth in the tire sector brought about by the presence of the automobile giant, the North American region has been leading the global market for silica flour. The use of silica flour as a reinforcing filler has expanded due to the region's growing tire industry. In addition, the expansion of the region's silica flour market has been influenced by the use of glass and silica flour in renewable energy resource applications including solar cells and wind turbines. Additionally, because of an increase in building spending on residential and industrial projects in China and India, the Asia Pacific region is leading the world market for silica flour in terms of consumption. Besides this, the personal care, technology, and food & beverage industries are all growing quickly in this region, fuelling demand for more glass, and supporting the growth of the market.
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Silica Flour Market Driver
Silica Flour Market Restraint
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The Global Silica flour market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.
Silica Flour Market Top Player's Company Profiles
Silica Flour Market Recent Developments
Silica flour serves as a natural absorbent in cosmetics. People of all ages utilize skin care products now that they have acquired widespread attention. The need for silica flour has grown recently since silica flour is used to make the majority of skin care products. According to Cosmetics Europe (The Personal Care Association), the global market for cosmetics and personal care products is in Europe, where sales were estimated at EUR 79.8 billion in 2019. Globally, the use of cosmetic items has expanded due to economic growth in developing nations since customers now have more disposable income. This escalating demand for cosmetic products is predicted to drive the market in upcoming years.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, in terms of revenue, North America held the largest share of the Silica flour market due to the rising modernization and construction, and rising demand for silica in automotive industries. Additionally, because of an increase in building spending on residential and industrial projects in China and India, the Asia Pacific region is leading the world market for silica flour in terms of consumption. The segment of fiberglass in the application segment is growing at a higher pace due to rising demand in the automotive and transportation sector. Increasing usage of silica in oil well cementing in regions like the Middle East and the Asia Pacific is driving the market growth.
|Market size value in 2021||USD 559.79 million|
|Market size value in 2030||USD 591.59 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Silica Flour Market Recent Developments
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Parent Market Analysis
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For the Global Silica Flour Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Silica Flour Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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