by The environmental silica market comprises silica sand and quartz which find widespread applications across various end-use industries like glass, hydraulic fracturing, construction, foundry, and filtration. Silica sand, in particular, is one of the most abundant natural resources and a crucial raw material for glassmaking. It is utilized to manufacture various glass products used in the construction sector such as window glass, automotive glass, fiberglass insulation, and container glass. With the ongoing infrastructure development activities and rapid urbanization around the world, the demand for glass from the construction industry has surged considerably. Increasing construction of commercial buildings, residential complexes, and manufacturing plants require large volumes of glass for windows, doors, and walls. Moreover, silica sand has superior properties including high melting points making it suitable for various glass making processes. This has propelled the demand for environmental silica over the years.
The global Environmental Silica Market is estimated to be valued at US$ 832.5 million in 2024 and is expected to exhibit a CAGR of 45% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends gaining traction in the environmental silica market size is the increasing shift towards eco-friendly filtration applications. Traditionally, diatomaceous earth was used as filter media instead of silica sand for water filtration as it possessed superior mechanical strength. However, diatomaceous earth is associated with environmental issues during mining and has a shorter filter run length. This has prompted manufacturers to replace it with silica sand which provides longer service life and optimal filtration. Moreover, silica sand is emerging as a sustainable alternative to other conventional filter media owing to its natural abundance and recyclability. Leading players are extensively researching and developing higher purity silica sand products for critical industrial filtration processes. This growing preference for silica sand in various filtration applications is expected to propel the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the environmental silica market is low considering the established market players. However, new entrants can disrupt the market with innovative products.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the presence of numerous established players offering environmental silica. Buyers can leverage this competition to negotiate lower prices.
Bargaining power of suppliers: The bargaining power of suppliers is low in the environmental silica market due to commoditized nature of raw materials and easy availability of substitutes.
Threat of new substitutes: The threat of new substitutes is high. Players constantly focus on R&D to develop new and cost-effective substitutes of environmental silica.
Competitive rivalry: The competition in the environmental silica market is high due to presence of numerous national and international players offering similar products. Players focus on product differentiation and competitive pricing to gain a competitive edge.
Key Takeaways
The global environmental silica market is expected to witness high growth backed by increasing applications in construction, electronics, personal care products and others.
Regional analysis: Asia Pacific dominates the global environmental silica market and is expected to grow at a significant rate during the forecast period. The presence of developing economies like China and India has boosted the regional market growth. Favorable government policies supporting infrastructure development in the region also drives the regional demand.
Key players: Key players operating in the environmental silica market are Evonik Industries AG, Wacker Chemie AG, Cabot Corporation, Tokuyama Corporation, and Anton Paar GmbH. Evonik Industries offers a wide range of precipitated, fumed and fused silica for multiple applications like healthcare, coatings & paints, plastics, and personal care under the AEROSIL brand. Wacker Chemie provides silica products under the HDK and SIPERNAT brands.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
