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Report Overview
The global silica sand market attained a volume of 397.48 MMT in 2023. The silica sand market value is estimated to grow at a CAGR of 4.44% during 2024-2032 to reach a volume of 599.44 MMT by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Silica Sand Market Trends
Rapid urbanisation, infrastructure investments, and population growth drive silica sand demand.
Growth in the construction, glass, and foundry building industries, subsequently engendered by fast urbanisation and population growth, has been driving the global silica sand ecosystem. Thus, with the world population expected to reach 9.7 billion by 2050, with urbanisation going up to 68%, the demand for silica sand has massively gone up. The government is increasingly investing in infrastructure, and the urban population is growing, notably in emerging markets like China and India. This further perpetuates building and construction growth, accelerating the silica sand demand globally.
Other developments include the USA's Inflation Reduction Act and China's Public Housing Plan, which are both targeted at tenements with 6.5 million units in further driving the demand for silica sands. Revenues of the largest 100 building contractors are up by 3.2% for 2022 - this shows that this sector is on its growth trajectory. Some of the factors influencing the growth of the global silica sand market include economic growth, infrastructural development, and urbanisation.
Silica Sand Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a volume of 397.48 MMT in 2023.
The market is estimated to grow at a CAGR of 4.44% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a volume of 599.44 MMT by 2032.
The factors driving the market growth are increasing construction activities, expansion of the glass manufacturing sector, rising metal casting works, and expansion of the oil and gas sector.
Key trends aiding market expansion include the growing applications of silica sand, rising infrastructural developments in emerging economies, and increasing demand from the glass industry.
The key regional markets for silica sand are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Glass manufacturing is expected to account for the largest share in the forecast period.
The key players in the market include JFE Mineral & Alloy Company,Ltd, SCR-Sibelco NV, Mitsubishi Corporation, Covia Holdings LLC, Tochu Corporation, US Silica Holdings Inc, Euroquarz GmbH, Manley Bros. of Indiana, Inc, Badger Mining Corporation, and Perniagaan Usahasama Membalak Sdn. Bhd. (PUM Group), among others.
In August 2023, the global spending on construction stood at USD 1.98 trillion, representing a 7.4% increase since 2022.
The applications include glass manufacturing, foundry, chemical production, construction, paints and coatings, ceramics and refractories, filtration, oil and gas and others.
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