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Silica Flour Market – How The Fiberglass Business Will Grow In 2024?

Author : Ronak Bora | Published Date : 2019-06-10 

Fiberglass is the most prominent silica flour market application contributing to over 25%. Nowadays, fiberglass is applied to buildings considering the environmental regulations. Fiberglass maintains the building temperature by reducing heat exchange between the interior of the building and its surroundings. Vehicles use fiberglass to protect it from exterior surroundings and maintain a desirable temperature and privacy in the vehicle. Silica flour Market will likely surpass USD 650 million by 2024 according to this new research report.

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Rising glass demand in various applications will be the major driving force behind the growth of silica flour market owing to product usage in glass manufacturing. Glass is being increasingly used in the construction industry for aesthetic and lighting purposes. Climate change has also resulted in increased glass demand for cooling as well as heating of buildings. High growth in the construction industry due to rising population and raped urbanization will drive the demand for glass and in turn augment the silica flour industry during forecast years.

High growth in the automotive sector will also influence the overall silica flour market in coming years. Glass is extensively used in automobiles for protection and aesthetic purposes. Economic development and rising income levels, mostly in developing regions, has led to increased automobiles demand which is anticipated to drive the global silica flour industry during forecast years.

Continued exposure to the product has been linked with health hazards like silicosis and other respiratory diseases. This has led to regulatory bodies developing new guidelines on the product usage. Complying to such guidelines may add extra cost to the manufacturing process and may harm the global silica flour market in the coming years.

Silica flour market has nine major application segments including sodium silicate, fiberglass, cultured marble, additive, reinforcing filler, foundry work, ceramic frits & glaze, oil well cements, glass & clay production, and other applications. Fiberglass segment is anticipated to grow by a healthy rate till 2024 owing to its usage in buildings and automobiles. The segment is likely to occupy 25% of total industry revenue by 2024. Sodium silicate segment mostly finds its application as adhesives, detergents, anticorrosive, binders, coagulant aids, deflocculates, cement, catalyst bases, and zeolites in various industries. The segment is likely to witness growth exceeding 6% CAGR and is anticipated to be a major propelling force behind the growth of silica flour industry . Glass application segment is poised to grow at a fast rate in the forecast years due to its usage in a broad range of activities such as housing, medical technology, packaging, solar panels, biotechnology, tableware, and electronics appliances.

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Asia Pacific is the most prominent region in the silica flour market owing to rising investments in the infrastructure & construction industry. Growing automobile market will also be a contributing factor for the products rising demand in Asia Pacific. The region is expected to occupy a considerable share in the overall market by 2024. North America is another important silica flour market and the regional growth will be mainly propelled by growing tire demand from a well-developed automotive sector. Rising glass demand from the renewable energy sector is also anticipated to favor the regional industry growth.

Silica flour market players include Silica Holdings, SCR-Sibelco N.V., Premier Silica, AGSCO Corp, FINETON Industrial Minerals Ltd., Delmon Group, Saudi Emirates Pulverization Industries, Sil Industrial Minerals, Opta Minerals, Hoben International Limited, Premier Silica, International Silica Industries Company, and Adwan Chemical Industries Company.

 

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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