by The Environmental Silica Market is estimated to be valued at US$ 2.45 Bn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Environmental silica is one of the most abundant minerals found on earth. It exists in the form of quartz, flint, chert, and rock crystal. It has extensive use across various end-use industries such as construction, glassmaking, hydraulic fracturing, and foundry. In construction industry, environmental silica in the form of sand is used for manufacturing concrete and asphalt. It is also used for abrasives, filtering, metallurgical and chemical applications.
Market Dynamics:
The booming construction industry globally is acting as a major driver for the environmental silica market growth. According to the Global Construction 2030 report, the global construction output is projected to reach US$ 8 trillion by 2030. The rising investment in infrastructure development projects such as roads, highways, dams, bridges is positively impacting the demand for environmental silica. Additionally, growing oil & gas exploration and production activities are augmenting the consumption of environmental silica in hydraulic fracturing applications. Environmental silica is pumped under high pressure into gas and oil wells to create fractures that allow the gas or oil to flow into the well. These two key factors are propelling the market growth over the forecast period. The stringent government regulations regarding natural resource mining has encouraged market players to shift from processing of river sand to optimized processing of environmental silica. This is another factor contributing to the growth of environmental silica market.
Segment Analysis
The Environmental Silica market is divided into two key segments – frac sand and industrial/ specialty sand. The frac sand segment currently dominates the market, accounting for around 60% share. This is because of the rising shale gas production in North America which uses hydraulic fracturing technique that requires high quality frac sand in huge quantities.
PEST Analysis
Political: The market is impacted by regulations around mining and transportation of silica sand. Strict mining laws can hamper supply.
Economic: Growth in shale gas exploration and construction activities drives demand. A slowdown in these end-use industries can negatively affect the market.
Social: Concerns around health hazards of silica dust Exposure and land reclamation after mining operations pose challenges.
Technological: Developments in mining and processing technologies help improve recoveries and lower impurity levels. This enhances product quality.
Key Takeaways
The Global Environmental Silica Market Size is expected to witness high growth, exhibiting CAGR of 9.8% over the forecast period, due to increasing shale gas exploration activities in North America. The frac sand segment currently contributes around 60% share led by demand from hydraulic fracturing applications.
Regional analysis: North America dominates currently with an estimated share of over 50% led by the US. This is because of extensive shale gas drilling requiring huge volumes of frac sand. Asia Pacific is expected to be the fastest growing market going forward due to rising exploration of shale reserves and growth in construction activities in countries like China and India.
Key players operating in the Environmental Silica Market are U.S. Silica Holdings Inc., Sibelco Group, Fairmount Santrol Holdings Inc., Emerge Energy Services LP, Badger Mining Corporation, Covia Holdings Corporation, Preferred Sands LLC, Hi-Crush Partners LP, SCR-Sibelco N.V., Pattison Sand Company. The market is consolidated in nature with top players accounting for major share. These companies are focusing on geographic expansion and enhancing mining efficiencies to better serve the growing demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
