The absence of the clear domination of a single
player has led to a fragmented competitive scenario within the global
market for silica flour, finds Transparency Market Research (TMR) in
a recent study. In 2014, the top three players, namely, U.S. Silica
Holdings Inc., Premier Silica LLC, and SCR-Sibelco N.V, accounted for
a share of 32.1% in this fragmented market.Over the coming years, the
competition among participants is likely to be further reduced by the
limited scope of differentiation.
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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.
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.
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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.
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.
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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.”
Key Takeaways
- 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:
By Application
- Sodium silicate
- Fiberglass
- Cultured marble
- Additive
- Reinforcing filler
- Foundry work
- Ceramic frits & glaze
- Oilwell cements
- Glass & clay production
- Others (Including pharmaceutical applications)
About
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Transparency Market Research (TMR) is a global market intelligence
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Transparency Market Research employs rigorous primary and secondary
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