Glassmaking Silica Sand Market – United States Industry Analysis, Size, Share, Growth, Trends and Forecast | Growth Market Reports
Glassmaking Silica Sand Market
The US glassmaking silica sand market was valued at USD 1,065.6 Million in 2019 and is projected to reach USD 1,356.1 Million by 2027, expanding at a CAGR of 3.6% during the forecast period. The demand for silica sand for glassmaking is growing as use of glass products for multiple applications is on the rise. Moreover, use of glass in different industries such as automotive, construction, and food and beverages industry is fueling the demand for glass products which in turs is driving the US glassmaking silica sand market. Growing acceptance of glass packaging due to growing environmental concerns as well as High Investments for Solar Infrastructures are expected to create lucrative opportunities for the US glassmaking silica sand market in the future.
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Market Dynamics
Glass is a luxurious, decorative, and functional material that is used in various industries. This highly versatile material is used in a variety of applications ranging from construction to advanced aeronautics. Silica sand is an essential raw material used for manufacturing glass. This, is turn, is increasing the demand for glass, which is expected to significantly fuel to the growth of the US glassmaking silica sand market during the forecast period. Moreover, rising awareness about the various properties of glass such as rust resistance, weather resistance, and good conductor of electricity is increasing its demand, thereby spurring market growth.
Silica is the main constituent of the lithosphere and its various industrial applications makes it a vital material. Conversely, its rapid extraction damages the environment. Silica mining causes sinkholes, land erosion, and loss of biodiversity. The chemicals used in mining results in the contamination of the soil, water bodies, and groundwater. Environmental activists and local government bodies are enforcing strict rules and raising awareness about the ill effects of silica mining. This, in turn, is hampering the glassmaking silica sand market.
Glass is widely used in the construction of solar panels. The photovoltaic materials utilized in solar panels are supported by layers of glass. The solar panels are adopted by around two-third of corporate offices since 2015 in the US. The Government of the US is taking active part in promoting renewable energy sources. Increasing preference for solar energy has increased its share in the US electrical generation from just 0.1% in 2010 to over 3% in 2020. Rising solar energy generation is projected to increase the demand for solar panels in the US. This, in turn, is expected to propel the demand for glassmaking silica sand to produce glass for solar panels by creating opportunities in the market.
Sub-region Wise Outlook
Based on sub-regions, the US glassmaking silica sand market is categorized as West, Midwest, Northeast, Southeast, and Southwest. The market in the Midwest held a significant share of the market in 2019 and is anticipated to expand at a significant CAGR during the forecast period. Silica sand glass is regarded as safe status as per the FDA guidelines, which creases opportunities for key market players in the country.
The US glass product manufacturing industry is expanding rapidly due to the high demand for glass from construction and automotive industries. This, in turn, is expected to boost the demand for the glassmaking silica sand in the country during the forecast period.
Competitive Landscape
• Key players in the market include Covia, U.S. Silica, Emerge Energy Services, Badger Mining Corporation, Hi-Crush Inc., Preferred Sands,Inc, Sibelco, Minerali Industriali S.r.l, Aggregate Industries, Quarzwerke Group, WOLFF & MÜLLER, Source Energy Services, Liberty Materials, Inc, signal peak silica, Eagle Materials, Inc. These players are considered as key manufacturers of the market based on their different varieties of product availability, regional presence, better supply chain management system, and the increasing demand for the products.
• The players are adopting key strategies such as product development, geographical expansion, mergers and acquisition and many other strategies to increase their demand for US glassmaking silica sand.
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