As per a published report the global 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 Fortune Business Insights™ in its report,titled “Silica Flour Market, 2020-2027”. As per the report, the value ofthe market stood at USD 397.5 million in 2019 and is projectedto register a CAGR of 3.5% from 2020 to 2027.
Source:
COVID-19 Impact
COVID-19 has put a halt on most of theoperations 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 CeramicProppant Facility
In July 2019, U.S. Silica announced theacquisition 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.
Paints and Coatings Segment to RegisterHighest Growth
Based on application, the market issegmented 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 theDeveloping Part of Asia Pacific to Strengthen Demand
The Asia Pacific silica flour market isprojected 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.
North America is projected to hold aconsiderable silica flour market share in the upcoming future. The key factor
boosting the market growth of silica flour in the region is the rapid expansion
observed in industries, such as paints & coatings and oil & gas.
Innovation and Research to Aid KeyPlayers offer more Efficient Products
Prominent manufacturers operating inthe global market are focusing on innovation and research in order to offer a
wide variety of products to their customers. This will help them expand their
portfolio and expand their customer base. For instance, U.S. Silica has
developed core proficiencies in operations, such as mining, processing logistics,
and materials science, enabling the company to offer over 400 products
worldwide.
