Asia Pacific Silica Sand Market Expected to Reach USD 8,303.9 million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Asia Pacific Silica Sand Market by Type, Application, and Country: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 5,346.5 million in 2019 and is expected to grow at a growth rate of 6.1% by the year 2027. In terms of volume, the Asia Pacific silica sand market is projected to expand at a CAGR of 6.4% during the forecast period. The Asia Pacific silica sand market is anticipated to grow significantly during forecast period due to rising demand for silica sand in foundry, and strong presence of glass manufacturers in Asia Pacific.

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The silica sand market is fragmented based on type, application, and country. Based on type, the silica sand market is categorized into wet sand, dry sand, frac sand, filter sand, and coated sand. By application, the silica sand market has been categorized into glass manufacturing, foundry, hydraulic fracturing, construction, chemical production, and others. Based on country, the silica sand market is segmented into the market is divided into China, Japan, South Korea, India, Australia, South East Asia, and the Rest of Asia Pacific.

In year 2020, the silica sand market is expected to witness decline in demand as a negative impact of COVID 19 pandemic. The partial and complete lockdowns across countries in Asia Pacific have decreased the construction, chemical production, foundry, and glass manufacturing activities. Hence, the shutdown of production simultaneously lead to decline in demand for raw materials and silica sand is one of the key raw material. Moreover, Covid-19 is impacting the production process of several manufacturing industries and businesses. Moreover, trade barriers are further reducing the demand-supply outlook. Factors such as the closure of assembly plants in India and large-scale manufacturing interruptions across Asia Pacific have negatively impacted the construction sector. This has ultimately hampered the silica sand market to a certain extent.

As per GMR industry analyst Vidya Jadhav, “The Asia Pacific Silica Sand Market is anticipated to witness significant growth during forecast period 2021-2027 driven by the growing demand for silica sand across glass manufacturing. Moreover, the total expenditure on the construction industry in Asia Pacific itself was estimated to be half of the total world’s spending on construction. Thus, high spending on construction contributes to the market growth. The China and India are major market for silica sand in Asia Pacific region and are projected to continue dominance due to strong glass manufacturing industry, boom in construction activities, and growing hydraulic fracking activities.”

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Key Takeaways from the Study:

• Companies such as Mitsubishi Corporation, AVIC Sanxin Co., Ltd., SCR-Sibelco NV are holding around 30% of the market share of Asia Pacific silica sand market in the year 2019.
• China accounts for a significant share of the market, followed by India. The market in India is projected to expand at substantial CAGR during the forecast period.
• The wet sand segment is anticipated to hold a significant share of the Asia Pacific silica sand market. The significant share of the wet sand segment is attributed to the increasing use of wet sand for a variety of industrial applications in countries such as China, Japan, and India.
• The glass manufacturing segment accounts for a significant share of the market. The increasing demand for fiber glass and flat glass from emerging economies especially India and China is driving the market growth. The rapidly growing demand for these glasses from automotive industry and construction sectors is expected to create lucrative opportunity during forecast period.

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Report Scope:

Target Audience:

• Supply-side: Silica sand manufacturers, raw material suppliers, primary respondents, and distributors.
• Demand Side: Construction industry, chemical manufacturers, foundries, glass manufacturers, and others.
• Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
• Associations and Industry Bodies: Indian Bureau of Mines, China Building Material Federation, The All India Glass Manufacturers’ Federation, China Architectural and Industrial Glass Association

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