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Silica sand for glass industry to reach $8.5 billion by 2033, driven by demand from automotive and construction industries

Posted on by darion

Silica sand for glass industry is expected to register a CAGR of 4.1% during 2023-2033. The market is expected to reach USD 5.7 billion in 2023. By 2033, it is estimated to exceed USD 8.5 billion.

The growing construction sector is expected to boost the demand for silica sand for glass production. Rapid urbanization and various sectors looking to expand their reach are some of the factors that have driven the growth of the market.

To focus more on sustainability, the green building market is predicted to grow at a rate of 13.6%. The green building market valuation is expected to exceed USD 650 billion by 2032, which presents a huge opportunity for the silica sand market.

Luxury hotels are also on the rise. Based on a study conducted by FMI, the luxury hotel market has been valued at USD 95,113 million in 2022. The market is expected to register a CAGR of 5.3% during the forecast period. This would certainly mean an increase in construction activities, which is expected to support the growth of the silica sand market.

As ecosystem and sustainability are the talk of the town, there is a lot of emphasis on the growth of hybrid vehicles. The global hybrid vehicle market is expected to grow by 22% during the forecast period. Key players operating in this market are looking to expand their plants across the globe, which can support the growth of the silica sand market.

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However, the market is facing challenges related to supply chain management. This has led to an increase in the price of quartz sand and in many places there is a shortage of the product.

Therefore, based on the observations of FMI researchers, it can be concluded that “Growth in the construction sector, implementation of green alternatives, expansion of the automotive market and many other factors are expected to stimulate market growth.”

Key conclusions:

  • The glass silica sand market is expected to register a compound annual growth rate (CAGR) of 4.1% during the forecast period.
  • The market is estimated to be worth $5.7 billion in 2023.
  • The market value is expected to exceed US$8.5 billion by 2033.
  • Based on regional analysis, Asia Pacific is expected to dominate the market share.
  • The US market is expected to grow by 4.7%.
  • The UK market is forecast to grow by 3.8%.
  • The Chinese market is expected to record a compound annual growth rate (CAGR) of 5.1%.
  • The Japanese market is expected to grow by 4.7%.
  • The South Korean market for quartz sand for glass production is forecast to grow by 4.6%.
  • Based on the application, the glass packaging segment is expected to maintain its dominant share and may grow by 4.1%.
  • Considering purity, the high purity segment is expected to be the leading segment and grow at a rate of 4.3%.
  • Considering the end use, the construction segment is expected to be the leading segment.

Competitive environment

The key players operating in the market are expected to invest in mergers and acquisitions. Strategic partnerships are also being taken up. For this purpose, manufacturers are entering into partnerships with players from various niches. Key players are also investing in the R&D aspect of the business. This is done by enhancing the capabilities of quartz sand with other elements. Steps are also being taken up to increase the manpower.

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Dominant players on the market

  • Sibelco
  • Imerys
  • Tochu Corporation
  • American Silica
  • Euroquarz GmbH

Segmentation of the quartz sand market for glass production

By application:

  • Flat glass
  • Fiberglass
  • Glass container (colored, colorless)
  • Special and technical
  • Table glass
  • Others

By purity:

  • High purity
  • Ultra-high purity

By end use:

  • Food and beverage packaging
  • Industrial
  • Pharmaceutical
  • Scientific instruments and analytical research
  • Construction
  • Automotive
  • Kitchenware and kitchen utensils

By region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner and member of the Greater New York Chamber of Commerce) offers in-depth insights into the factors driving market demand. FMI is a leading global provider of market intelligence, advisory services, consulting and events for the packaging, food and beverage, consumer technology, healthcare, industrial and chemical markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional and local expertise on various industry disciplines and trends in over 110 countries.

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Phone: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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