Product ID: SQMIG15F2109
Global Silica Flour Market Size, Share, Growth Analysis, By Application(Paints, Coatings) - Industry Forecast 2024-2031
Report ID:
SQMIG15F2109 |
Region:
Global |
Published Date: February, 2024
Pages:
260
|
Tables:
42 |
Figures:
78
Global Silica Flour Market Insights
Global Silica Flour Market size was valued at USD 559.79 million in 2019 and is poised to grow from USD 591.59 million in 2023 to USD 917.62 million by 2031, growing at a CAGR of 5.64% in the forecast period (2024-2031).
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 Silica Flour Market Report Snapshots
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