Asper a published report the silicaflour market size is projected to reach USD 502.6 million by2027 owing to the increasing utilization of the material in the production of
ceramic, states FortuneBusiness Insights™ in its report, titled “Silica Flour Market, 2020-2027”.As per the report, the value of the market stood at USD 397.5 million in2019 and is projected to register a CAGR of 3.5% from 2020 to2027.
COVID-19 Impact
COVID-19has 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 materials required for silica flour, thereby restraining its
growth during the forecast period.
U.S. Silica Acquires Former Ceramic Proppant Facility
InJuly 2019, U.S. Silica announced the acquisition of a former ceramic proppant
facility in Georgia, the U.S. With the help of the new facility, the company
will be able to lower its production cost and improve its supply chain. This
will also help the company move down in the value chain. In addition, the
launch of this facility is anticipated to aid the company to accelerate product
development and facilitate product customization as requested by the clientele,
thereby boosting the silica flour market growth.
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Paints and Coatings Segment to Register Highest Growth
Basedon application, the market is segmented into paints & coatings, polymers,
glass, and ceramics (sanitary ware, tiles, and others). The paints and coatings
segment is expected to register the highest growth owing to the properties
offered by silica, such as reflectance, brightness, and color consistency, that
are ideal for producing paint. On the other hand, the ceramic segment held a
share of 5.3% in 2019. In terms of the region, the market has been clubbed into
North America, Europe, Asia Pacific, South America, and the Middle East &
Africa.
Increasing Disposable Income from the Developing Part of AsiaPacific to Strengthen Demand
TheAsia Pacific silica flour market is projected to witness significant growth
during the forecast period. The market secured a total value of USD 157.1
million in 2019. The increasing disposable income of the population in major
countries of the region is estimated to accelerate the demand for silica flour
in the region.
