Some prominent participants in the market include Premier Silica LLC, International Silica Industries Company plc, Sil Industrial Minerals Inc., U.S. Silica Holdings Inc., Delmon Group of Companies, Adwan Chemical Industries Co. Ltd., Opta Minerals Inc., Al Marbaie Est., Saudi Emirates Pulverization Industries Company, AGSCO Corporation, Short Mountain Silica, Al-Rushaid Group, and FINETON Industrial Minerals Limited.
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As per a report by Transparency Market Research, the global industrial silica market was evaluated at US$18.75 bn in 2016. Expanding at a CAGR of 6.6% between 2017 and 2025, the market is projected to become worth US$32.98 bn by 2025.
The major segments of the industrial silica market depending upon application are sodium silicate, fiberglass, culture marble, additive reinforcing filler, foundry, ceramic frits & glaze, oilwell cements, glass and clay production. Of them, fiberglass held more than 25% of the overall market in 2016 volume-wise. Fiberglass, additive reinforcing filler, and glass and clay applications are anticipated to majorly drive the market over the forecast period.
In 2016, Asia Pacific led the market with a share of more than 40% by both revenue and volume. The region was trailed by North America in terms of volume in the same year. The Middle East and Africa and Latin America are expected to collectively hold more than 8% share of the market by 2025.
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Another prominent growth driver of the industrial silica market is the demand for industrial silica from steel foundries. Industrial silica possesses several beneficial properties such as high purity, chemical inertness, consistent particle size and shape, and compatibility with chemical binders, which is anticipated to boost the demand for industrial silica in the foundry industry. Thus, growth in the foundry industry is serving to boost the industrial silica market.