The North America And Australia Silica Market size is expected to reach USD 16.52 billion by 2028, according to
a new report by Grand View Research, Inc., expanding at a CAGR of 11.0% over
the forecast period. The market growth is attributed to the rising product
demand in various applications including oil & gas, rubber, foundry,
glass, agrochemicals, and others. Commercial silica sand obtained through
mining mainly finds use in oil & gas, glass, and foundry
sand. Specialty silica is extracted through wet and thermal processes
and includes precipitated, fumed, and colloidal silica along with silica
gel and fused gel. These products undergo different processes and find
applications in rubber, agrochemicals, oral care, food, desiccants, paints
& coatings, and other applications.
Based on application, the market is segmented into oil
& gas, glass, foundry, rubber, agrochemicals, oral care, food, desiccants,
paints & coatings, and others. The product demand in the oil & gas
industry is expected to increase on account of the rising hydraulic fracturing
activities. In addition, high demand for glass products owing to the growth in
construction activities and increasing beverages consumption will further drive
the market. Moreover, the market is expected to witness lucrative growth
opportunities in the rubber industry. Highly dispersible silica is used in
green tire production, which further enhances the performance parameters of the
tire in terms of fuel efficiency and safety, without affecting the durability
of the tire.
This is driving the consumption of silica in countries
in North America moving toward high production of green tires. With the
outbreak of COVID-19, the production of silica sand was severely impacted as
the demand from end-use industries declined significantly in 2020. For example,
W. R. Grace & Co.-Conn sales in 2020 decreased by 11.7% as compared to
2019. However, with recovery in the economy and increasing demand from
industries, such as oil & gas, glass, rubber, and foundry, the production
is expected to increase during the forecast period. The growing demand and low
production led to a surge in prices in 2021. For example, in November 2021,
U.S. Silica Holdings Inc. announced raise in price for its products in the
range of 6% to 14% starting from February 2022.
The price increase is part of the company’s plan to
curb losses due to a significant and continuous rise in labor, transportation,
materials, and manufacturing costs. The market is highly competitive owing to
the presence of numerous players and rising product demand from application
industries. For instance, in December 2021, Canadian Premium Sand Inc. (CPS)
announced to set up its first solar glass manufacturing facility in North
America. The company chose the City of Selkirk, Manitoba as the location due to
its proximity to a high-grade silica sand quarry.
Related Press Release@ North America And Australia Silica Market Report
North America And Australia
Silica Market Report Highlights
- The oil & gas segment held the largest revenue share in 2020
owing to the increasing number of rigs in North America and growing
investments in the Australian oil & gas industry
- A rise in raw material, energy, and transportation costs during the
COVID-19 pandemic impacted final product prices
- For instance, in August 2021, PQ Corp. announced new prices for its
silica products in the U.S. and Canada. The company along with its
subsidiary National Silicates declared a price hike of 10–12% for its
products
- Companies in Australia are making efforts to increase the
production of silica. For instance, in September 2021, VRX silica started
the processing of its second silica sands project at Arrowsmith, Western
Australia. The company is currently awaiting environmental approval for
its advanced Arrowsmith North project
- The market in Australia was estimated at 2,866.0 kilotons in 2020.
The high market growth is on account of development in the application
industries, such as glass and foundry, in the country
About Us:
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed business
decisions, the company offers market intelligence studies ensuring relevant and
fact-based research across a range of industries including technology,
chemicals, materials, healthcare and energy.
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