Glass Demand from Automotive and Real Estate Sectors to Drive Silica Sand Market Growth
The silica sand market is expected to reach USD 8.5 billion by 2033, driven by increasing demand from the automotive and real estate sectors.
Silica Sand MarketGlass MakingAutomotiveReal EstateConstructionReal Estate NewsSep 24, 2024
The surging construction sector is expected to increase the demand for silica sand for glass making. Rapid urbanization and different sectors looking to expand their footprints are a few of the factors that have surged the market growth.
The green building market is expected to grow at a robust 13.6% and is expected to cross US$ 650 billion by 2032. This represents a massive opportunity for the silica sand market.
The luxury hotel market was valued at US$ 95,113 million in 2022 and is expected to record a CAGR of 5.3% during the forecast period. This would certainly mean an increase in construction activities, which is expected to support the silica sand market growth.
The global hybrid vehicles market is expected to grow at 22% during the forecast period. Key players operating in this market are looking to expand their plants worldwide, which might support the market growth of silica sand.
However, the market is facing challenges pertaining to supply chain management. This has led to an increase in the price of silica sand, and in many places, there is a scarcity of the product.
By the insights provided by FMI researchers, it can be inferred that an increase in the growth of construction sectors, adoption of green alternatives, expansion of automobile market, and various other factors are expected to surge the market growth.
The key players operating in the market are expected to make investments in mergers and acquisitions. There are also moves pertaining to strategic partnerships. For this, the manufacturers are entering into collaborations with players from various niches.
Dominant players in the market include Sibelco, Imerys, Tochu Corporation, US Silica, and Euroquarz GmbH.
The silica sand for glass making market is segmented by application, purity, end-use, and region. Based on the application, the glass container segment is expected to hold the dominant share and might advance at 4.1%. Based on the purity, the high-purity segment is projected to be the leading segment and is expected to grow at 4.3%. Based on the end-use, the construction segment is expected to be the leading segment.
The market is expected to be driven by the increasing demand from the automotive and real estate sectors. The Asia Pacific region is expected to hold the dominant market share, followed by North America and Europe.
About Future Market Insights (FMI)
Future Market Insights, Inc. is a leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets.
Frequently Asked Questions
What is the expected CAGR of the silica sand market between 2023 and 2033?
4.1%
What is the expected market value of silica sand by 2033?
USD 8.5 billion
Which region is expected to hold the dominant market share?
Asia Pacific
What is the expected growth rate of the green building market?
13.6%
Who are the dominant players in the silica sand market?
Sibelco, Imerys, Tochu Corporation, US Silica, and Euroquarz GmbH
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