Silica Flour Market Size to Hit USD 502.6 Million by 2027; Rising Utilization of Ceramics amid Rising Construction Activities to Stoke Market Growth, Says Fortune Business Insights™

Pune, India, March 14, 2021 (GLOBE NEWSWIRE) — The global silica flour market size is projected to reach USD 502.6 million by 2027, exhibiting a CAGR of 3.5% during the forecast period. Fortune Business Insights™ shares this information in its report, titled “Silica Flour Market, 2020-2027”. As per the report, the value of the market stood at USD 397.5 million in 2019.Silica is one of the primary ingredients used to produce paint and related products. The properties offered by the substance, such as chemical inertness, acid resistance, abrasiveness, and heat resistance, make it a highly desirable material in the paints & coatings industry. Flourishing growth in the paints & coatings industry is estimated to bolster the demand for silica flour. For instance, According to the National Industrial Sand Association, the production of paints & coatings in the U.S. reaches nearly 5 billion liters per year. As per the association, the industry will register 6.3% growth during the study period.
Market SegmentationThe market is segregated on the basis of application and geography. Based on application, the market is segmented into paints & coatings, polymers, glass, and ceramics (sanitary ware, tiles, and others). The paints & coatings segment is expected to hold a major silica flour market share during the forecast period. In terms of the region, the market has been clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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What Does the Report Offer?The report provides a detailed analysis of the key market aspects, namely, the dominant companies, end-users, and leading product types. Apart from this, the report contains tangible insights into the current & upcoming market trends and highlights prominent industry developments. In addition to these factors, the report supplies a holistic understanding of the main drivers, restraints, and segments that are contributing to the growth of the market.
Driving factorIncreasing Construction Activities amid Infrastructure Development Worldwide to Drive GrowthThe increasing rate of construction worldwide owing to infrastructural development across developing as well as developed countries is predicted to surge the demand for ceramics. For instance, the infrastructure development in India is anticipated to witness robust growth owing to the new National Smart Cities Mission launched by the government of India in 2015. Under this project, the government will engage in urban renewal and retrofitting programs of the country. The increasing utilization of ceramics for residential as well as commercial construction activities is estimated to drive the silica flour market growth.
List of the Leading Companies Profiled in the Global Silica Flour Market are:U.S. Silica Holdings, Inc. (U.S.)Sibelco (Belgium)AGSCO Corporation (U.S.)Fineton Industrial Minerals Limited (Hong Kong)Sil Industrial Minerals (Canada)Hoben International Ltd. (UK)Adwan Chemical Industries Co. Ltd. (Saudi Arabia)Capital Sand Company (U.S.)Finore Minerals LLP (India)Euroquarz GmbH (Germany)Al Salam Al Ma’asi Co. (Saudi Arabia)Delmon Group (Saudi Arabia)Other Key Players
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Restraining FactorsAdverse Effects of Inhaling Silica on Health to Limit GrowthThe inhalation of respirable dust created from the processing of siliceous rocks can have a serious impact on health and can lead to a condition called silicosis. This is expected to restrain the growth of the global market for silica flour.COVID-19 has put a halt on most of the operations around the globe in the first quarter of the global pandemic. As a result of which, the mining processes at all levels were affected. The complete shutdown of the mines has disrupted the supply of the raw material required for silica flour, restrain its growth during the forecast period.
Regional InsightsSurging Disposable Income in Major Countries to Aid Growth in Asia PacificThe silica flour market size in Asia Pacific stood at USD 157.1 million in 2019. The region is projected to witness flourishing demand for silica flour during the forecast timeframe. This is primarily on account of the surging disposable income of the population in major countries of the region.The market in North America is estimated to register substantial growth in the upcoming years. The rapid expansion observed in industries, such as paints & coatings and oil & gas, is projected to bolster the demand for silica flour in the region.
Competitive LandscapeIncreasing Production Capacity to Aid Key Players Gain More CustomersProminent Enterprises operating in the global market are focusing on expanding their production capacity. This will help them gain a larger share of customers. For instance, in July 2020, AGSCO Corporation announced the expansion of its warehousing capacity, which is based in Illinois, the U.S. This will help the company improve its current turnaround capabilities and keep highly demanded materials in stock. In addition, AGSCO is aiming to gain new customers with improved capacity.
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Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Market TrendsKey DevelopmentsLatest Technological AdvancementsInsights on Regulatory ScenarioPORTER’s Five Forces AnalysisSources of Silica Flour AnalysisList of Suppliers/DistributorsCOVID-19 Impact AnalysisSupply Chain ChallengesSteps Taken by Companies to overcome COVID-19 impactPotential Opportunities due to COVID-19 OutbreakGlobal Silica Flour Market Analysis, Insights and Forecast, 2016-2027, By ApplicationKey Findings / SummaryMarket Analysis, Insights and ForecastPaint & CoatingsAdhesivesPolymersGlassCeramicsSanitary WaresTilesOthersFused SilicaCountertopsRubbersOthersGlobal Silica Flour Market Analysis, Insights and Forecast, 2016-2027, By RegionKey Findings / SummaryMarket Analysis, Insights and ForecastNorth AmericaEuropeAsia PacificLatin AmericaMiddle East & AfricaTOC Continued…!
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