by The global environmental silica market is widely used across various end-use industries such as construction, paints & coatings, plastics, and others owing to its properties such as hardness, chemical inertness and thermal stability. Silica is essential for manufacturing glass, ceramics, concrete, plastics, paints, rubber and many other products used in construction, industrial manufacturing, and consumer goods. It is a main ingredient in products such as glass, pottery, insulation fiber, agricultural seed dressings and abrasives. Environmental silica helps improve material properties, durability, and heat resistance. The global environmental silica market is estimated to be valued at US$ 2.45 Bn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the environmental silica market is the rising adoption of green silica. Green silica involves silica sand mining processes and operations that reduce environmental impacts and ensure responsible land reclamation. It focuses on minimizing water usage, preserving natural landscapes, reducing noise pollution and utilizing renewable energy sources. Various mining companies are increasingly investing in green silica mining to improve sustainability. For instance, SCR-Sibelco N.V. practices circular economy principles and utilizes more than 75% of the by-products from its silica sand mining operations. Another trend is the growing demand for value-added silica products with advanced applications across various end-use industries such as fiber optic cables, paints, tires, plastics and more. Market players are focusing on developing innovative and customized silica products to cater to the changing industry and consumer requirements.
Porter’s Analysis
Threat of new entrants: The environmental silica market requires large capital investments and technical expertise, which acts as a barrier for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes. However, strict regulations surrounding use of hazardous materials increase buyer’s dependence on environmental silica supplies.
Bargaining power of suppliers: A few major players dominate the supply side, giving them significant influence over pricing.
Threat of new substitutes: Substitutes like synthetic aggregates and recycled materials pose minimal threat as they cannot fully replace environmental silica in all applications.
Competitive rivalry: The market is concentrated with big players competing on the basis of geographic footprint and capacity.
Key Takeaways
The Global Environmental Silica Market Size is expected to witness high growth. North America dominated the market in 2022 owing to strong demand from construction industry in the US and Canada. Asia Pacific is expected to be the fastest growing market during the forecast period with China and India being the major revenue generators.
Regional analysis
North America accounted for over 30% of the global market in 2022. Stringent regulations surrounding emission of particulate matter from mines and processing plants drive demand for environmental silica. The presence of leading players and growing construction activities are other factors supporting market growth.
Key players
Key players operating in the environmental silica market are U.S. Silica Holdings Inc., Sibelco Group, Fairmount Santrol Holdings Inc., Emerge Energy Services LP, Badger Mining Corporation, Covia Holdings Corporation, Preferred Sands LLC, Hi-Crush Partners LP, SCR-Sibelco N.V., Pattison Sand Company. U.S. Silica Holdings Inc. is one of the largest producers and suppliers of commercial silica in the world.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
