Hyderabad, July 28, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Asia Silica Sand Market Report (2023-2028)," the market is estimated at 144.19 million kilotons in 2023. It is expected to register a CAGR of 5.12% during the forecast period.
Silica sand is a compound of silicon and oxygen. It is commonly found in nature and is used in various industries. The Asian silica sand market is driven by consistent economic growth, leading to increased construction and use in the foundry industry. Opportunities lie in the increasing applications of silica sand in water treatment and sand-based treatments in dentistry and biotechnology. The report predicts that China is expected to be the dominant market, while India is projected to witness the fastest growth in the coming years.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | 144.19 million kilotons |
| Market Size (2028) | 185.08 million kilotons |
| CAGR (2023-2028) | 5.12% |
| Study Period | 2018-2028 |
| Forecast Units | Volume (kilotons) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increasing construction activities. |
| Applications in various industries. |
Who are the Top Companies in the Asia Silica Sand Market?
The market is partially consolidated in nature. The significant players in the Asian silica sand market are,
- Chongqing Changjiang River Moulding Material (Group) Co. Ltd
- Fairmount Santrol
- Mitsubishi Corporation
- Mangal Minerals
- PUM Group
- JFE Mineral Co. Ltd
- Raghav Productivity Enhancers Limited
- Sibelco
- Shivam Chemicals
- Tochu Corporation
- Xinyi Golden Ruite Quartz Materials Co. Ltd
Other Reports That Might Be of Your Interest:
- Silica Sand Market Report - The global silica sand market is projected to register a CAGR of 6% over the next five years.
- UAE Silica Sand Market Report - The UAE silica sand market is expected to register a CAGR of 5% over the next five years.
Key Highlights from the Asia Silica Sand Market Report:
Glass Industry Driving Growth
- Silica sand constitutes over 50% of the raw materials used in glass manufacturing. Silica sand is used in various glass types, such as containers, flat glass, and fiberglass.
- Increasing demand for flat glass and fiberglass from the growing automotive and construction sectors in Asia-Pacific is expected to drive the market in this application segment.
- China's construction sector, the world's largest, is expected to continue growing, with investments in affordable housing and commercial construction due to population growth. The reputable electronics sectors in developed countries like South Korea and Japan are also expected to increase the demand for silica sand in the region.
Fast-paced Growth in India
- Silica sand accounts for about 12% of India's mining industry. It is used in various applications like glass formation in foundries, chemical production, construction, and paints.
- India is a major player in the global construction market, with a significant GDP share. The increased demand for commercial buildings, high-rise buildings, and infrastructure development is boosting the demand for silica sand in India.
- The real estate industry in India is expected to reach USD 1 trillion by 2030. India's silica sand market is anticipated to grow at a healthy rate due to the growth of the construction and foundry industry in the country.
Mordor Intelligence has Segmented the Asia Silica Sand Market Based on End-user Industry and Geography.
- By End-user Industry (Market Size and Forecast based on Volume (kilotons), 2018-2028)
- Glass Manufacturing
- Foundry
- Chemical Production
- Construction
- Paints and Coatings
- Ceramics and Refractories
- Filtration
- Oil and Gas Recovery
- Other End-user Industries
- By Geography (Market Size and Forecast based on Volume (kilotons), 2018-2028)
- China
- India
- Japan
- South Korea
- Indonesia
- Thailand
- Malaysia
- Singapore
- Philippines
- Vietnam
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Asia Silica Sand Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Asia-Pacific Colloidal Silica Market Report - The Asia-Pacific colloidal silica market is anticipated to register a CAGR of greater than 6% over the next five years.
- Asia-Pacific Flat Glass Market Report - The Asia-Pacific flat glass market size is expected to grow from USD 63.42 billion in 2023 to USD 87.43 billion by 2028 at a CAGR of 6.63% during the forecast period (2023-2028).
- Glass Fiber Market Report - The glass fiber market is projected to register a CAGR of over 4% over the next five years.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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