Westford,USA, Oct. 19, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, a multifaceted set of factors underpins the surging demand for silica sand market. The heightened utilization of silica sand across diverse industries has triggered a notable upswing in its market price. The demand-supply dynamics have evolved, impacting its economic value as its applicability expands across construction and manufacturing sectors.
Browse in-depth TOC on the "Silica Sand Market"
- Pages - 265
- Tables - 100
- Figures – 73
The global silica sand market is largely dominated by the Asia Pacific region, which is the largest consumer of this resource worldwide. This commanding market presence can be attributed to factors that underscore the region's pivotal role.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 22.9Million |
| 2030 Value Projection | USD 36.49Million |
| CAGR | 6% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Silica Sand Market
- Chongqing Changjiang River Moulding Material (Group) Co. Ltd,
- Covia Holdings LLC
- Fairmount Minerals
- SAMIN
- Premier Silica
- Badger Mining Corporation
- Sibelco
- US Silica
- Brogardsand
- Preferred Sands
- Mitsubishi Corporation
- Unimin Corporation
- Emerge Energy Services LP
- Pattison Sand
- Quarzwerke Group
- Aggregate Industries
- Strobel Quarzsand GmbH
Wet Sand Segment is Expected to Grow in the Market Due to Significance of Wet Silica Sand in Various Applications
Wet sand segment is poised to exhibit the highest CAGR at 5.8% anticipated within the forecast period. This growth trajectory is attributed to compelling factors that accentuate the significance of wet silica sand in silica sand market.
The heightened production of oil and natural gas spurs the markets in North America. This process relies significantly on silica sand for hydraulic fracturing, commonly known as fracking. This extraction technique demands substantial quantities of silica sand as a vital component for propping open fractures in rock formations facilitating oil and gas extraction in the silica sand market.
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Construction Segment is Expected to Dominate the Market Due to Escalating Utilization of Silica Sand
Construction segment is forecasted to dominate the market throughout the forecast period in the silica sand market. This projection is chiefly attributed to the escalating utilization of silica sand in the production of essential building materials, particularly mortar and concrete.
Regional markets in the silica sand market are notably shaped by the dominance of the Asia Pacific region, which stands as the largest consumer of this invaluable resource on a global scale. This commanding presence can be attributed to various factors that underscore the region's significance.
A comprehensive analysis of the major players in the silica sand market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative businesspolicies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Silica Sand Market
- In 2022, notable developments in resources and renewable energy emerged. Perpetual Resources made a significant announcement regarding the initiation of reconnaissance auger drilling activities at the Beharra Silica Sand Project. This undertaking signifies a crucial step forward in exploring and extracting silica sand resources, highlighting the company's commitment to advancing resource-related projects.
- In a remarkable breakthrough, Finnish researchers unveiled a pioneering innovation—the first fully functional 'sand battery.' This cutting-edge technology exhibits the capability to store green energy, thus contributing to advancing renewable energy storage solutions.
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Key Questions Answered in Silica Sand Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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