Silica Sand Market Projected to Witness a Measurable Downturn; COVID-19 Outbreak Remains a Threat to Growth in the Near Future
The global silica sand market for glass making is highly influenced by demand for glass from the food & beverage industry, as a majority of manufacturers pack alcoholic drinks in glass bottles or containers. The key factor behind this is the fact that, glass packaging preserves the original taste and quality of the drink inside as compared to metal or plastic.
On the back of this important factor, the global silica sand market for glass making is projected to register a CAGR of 4.6% over the forecast period of 2019-2029.
Key Takeaways of Silica Sand Market for Glass Making Study
- The demand for silica sand for glass applications is anticipated to increase at a significant rate, on account of increasing per-capita consumption and purchasing power, and growing awareness of the importance of hygiene in the packaging of food products.
- An increase in glass making activities in developing countries is anticipated to have a positive impact on the growth of the silica sand market for glass making.
- East Asia holds a prominent share in the global silica sand market for glass making, attributable to the increasing application of glass in various end-use industries in this region.
- Increasing consumption of glass for packaging food products and photovoltaic cells in solar energy is anticipated to propel growth of the silica sand market for glass making. Moreover, glass has extensive applications in construction, automotive, pharmaceuticals, and scientific instruments & analytical research, along with cookware & utensils.
- Glass manufacturing companies strive to introduce new and innovative production technologies to cater to the rising global demand for glass. This is anticipated to offer substantial opportunities to players in the silica sand market for glass making.
- Increasing Preference for Glass Containers to Propel Market Growth
The enhanced visual appeal of products packaged in glass containers along with the transparent nature of glass enables manufacturers to showcase the premium quality of their products. Glass is a versatile material in container manufacturing, and containers can be made from this material in a wide range of colours, shapes, and sizes. Moreover, manufacturers in the food & beverage industry prefer the use of glass containers, and, as such, the food and beverage segment accounts for a substantial share in terms of volume as compared to other applications in the global silica sand market for glass making. This segment accounted for more than one-third share of the global silica sand market for glass making in 2018.
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These factors are anticipated to have a positive impact on the growth of the global silica sand market for glass making over the coming years.
Silica Sand Market for Glass Making Moving towards Consolidation
The silica sand market for glass making is significantly driven and dominated by a handful of players with extensive R&D capabilities. Tier-I manufacturers in the global silica sand market for glass making are U.S. Silica, Imerys Refactory Materials, Sibelco, Fairmount Santrols, Badger Mining, and JLD Minerals. These players are focusing on joint ventures, partnerships, and collaborations to build on their product expertise and enhance market dominance.
What Does the Future Hold?
Adoption of green chemistry by manufacturing companies is expected to drive the growth of the silica sand market for glass making. Moreover, on account of the increasing use of silica sand in glass making, the market is projected to witness robust growth during the forecast period.
Want to Know More?
Future Market Insights has published a market research report on the silica sand market for glass making, which contains global industry analysis of 2014–2018 and opportunity assessment for 2019–2029. This report provides an unbiased analysis of the silica sand market for glass making through four different segments – purity, application, end use, and region. The silica sand market for glass making report also provides demand trends of different types across industry verticals, a comprehensive list of service providers in the market, various projects around the world, and a detailed overview of the parent market.
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