Silica Flour Market will expand at a 7.0% CAGR between 2015 and 2023 and rise to US$618.0 million by 2023, Flourishing Construction Industry drives the global demand: Transparency Market Research

Albany, NY, Jan. 18, 2016 (GLOBE NEWSWIRE) -- A recent market research report published by Transparency Market Research (TMR) presents a 360-degree overview of the global silica flour market. The report is titled “Silica Flour Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”. The report states that the market, which had a valuation of US$338.1 million in 2014, will expand at a 7.0% CAGR between 2015 and 2023 and rise to US$618.0 million by 2023.

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The report states that the global silica flour market is driven mainly by the increasing demand for fiberglass in the building and construction sector. However, the market’s growth is expected to be restrained to a certain extent owing to the environmental and health hazards of silica flour. The rising use of silica flour in high cementing applications in the oil and gas industry is expected to propel the market over the report’s forecast period.

The report segments the global silica flour market on the basis of two criteria: application area and geography. On the basis of application area, the market is segmented into sodium silicate, cultured marble, fiberglass, foundry work, reinforcing filler, additive, oil well cements, ceramic frits and glaze, glass and clay production, and other applications in pharmaceuticals and other industries.

Of these, the segment of fiberglass was the largest application segment in 2014, as it accounted for a 25% share in the global market. The segment is also projected to exhibit the fastest growth over the report’s forecast period – it is expected to expand at a 6.0% CAGR between 2015 and 2023.

In terms of geography, the report segments the global silica flour market into North America, Latin America, Asia Pacific, Europe, and Middle East and Africa. Of these, Asia Pacific was the leading regional market by consumption volume in 2014. Asia Pacific accounted for more than 40% of the global market in 2014. Asia Pacific is also expected to be the fastest growing market segment over the report’s forecast period owing to the high demand for silica flour in the region’s flourishing construction industry.

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The market for silica flour in the Middle East and Africa is also expected to witness good growth over the report’s forecast period, majorly due to the numerous building and construction projects initiated in the region in the past few years. The demand for silica flour in North America is expected to grow at a slow but steady rate owing to recovery from the recent economic depression. However, the sustained economic downfall in Europe is expected to hinder the growth of the silica flour market in this region.

The report presents a detailed overview of the competitive landscape of the global silica flour market with the help of detailed business profiles, SWOT analysis, details about business and marketing strategies of some of the key companies in the market. Some of these companies are Premier Silica LLC, SCR-Sibelco N.V., U.S. Silica Holdings Inc., Adwan Chemical Industries Co. Ltd., Hoben International Limited, Saudi Emirates Pulverization Industries Company, Delmon Group of Companies, International Silica Industries Company Plc, Sil Industrial Minerals Inc., Al Marbaie Est., Al-Rushaid Group, Opta Minerals Inc., AGSCO Corporation, and Short Mountain Silica.

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The Report Segments the Global Silica Flour Market as follows:

Silica Flour Market - Application Analysis

  • Sodium silicate
  • Fiberglass
  • Cultured marble
  • Additive
  • Reinforcing filler
  • Foundry work
  • Ceramic frits & glaze
  • Oil well cements
  • Glass & clay production
  • Others (Including pharmaceutical applications)

Browse Market Research Press Release on Silica Flour

Silica Flour Market - Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

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Source:Transparency Market Research