The competitive landscape of the global silica flour market is relatively fragmented, with numerous players vying for competitive market shares. According to Transparency Market Research (TMR), the leaders in the global silica flour market are Premier Silica LLC, U.S. Silica Holdings Inc., and SCR-Sibelco N.V. These three companies accounted for 32.1% of the silica flour market in 2014 and are likely to remain prominent in the competitive hierarchy of the market in the coming years.
The framework of the silica flour market is likely to favor established leaders in the coming years, thanks to the low scope for differentiation in the industry. An expansive distribution network is also set to remain crucial for players in the market in the coming years, which also helps the established market leaders. On the other hand, some producers of silica flour are aiming for forward integration, which would allow them to make significant inroads into the industry.
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The global silica flour market was valued at US$338.1 mn in 2014 and is expected to rise to a valuation of US$618 mn by the end of 2023. The market is expected to exhibit a steady 7% CAGR between 2015 and 2023.
Fiberglass Production to Remain Leading Application of Silica Flour
Of the diverse applications of silica flour, fiberglass production holds the leading share in the global market. Fiberglass production accounted for close to 30% of the global silica flour market in 2014; its share is expected to rise to 31.1% by the end of 2023. Glass and clay production accounted for a further 13.5% of the silica flour market in 2014 and is likely to remain a leading application in the coming years. Apart from these, sodium silicate production is a leading application of silica flour and is expected to account for more than 13% of the global market by 2023.
Regionally, Asia Pacific is the leading contributor to the global silica flour market, accounting for over 46% of the market in 2014. It is likely to remain the key regional market for silica flour over the coming years, with the Middle East and Africa also expected to exhibit rising demand for silica flour in the coming years. Developed regions such as North America and Europe remain key contributors to the global market, albeit to a smaller degree than Asia Pacific due to the early establishment of the market in developed regions, which has led to stagnation. As a result, their share in the global silica flour market is likely to decline in the coming years.
Rising Demand for Fiberglass from Automotive, Construction Industries Drives Demand for Silica Flour
The rising use of fiberglass in transportation and new as well as renovated construction is the prime driver for the global silica flour market. Fiberglass is gaining repute due to its excellent insulation properties, which of great use in construction. Newly built buildings in many developed as well as developing regions have to comply with stringent environmental guidelines, which is helped immensely by the use of fiberglass to minimize the magnitude of heat exchange between the interior of the building and its surroundings.
The rising demand for glass is another key driver for the global silica flour market. While the automotive industry boom in the last few years has helped the global glass market, the rising demand from the construction industry has been crucial for the glass market. Due to the varying needs of customers living in regions with different climates, new types of glass are being innovated on a regular basis. This is likely to remain a crucial driver for the silica flour market, as the demand for new residential and commercial construction is likely to rise, particularly in developing countries, in the coming years.
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On the other hand, the risks of prolonged occupational exposure to silica flour are being acknowledged by regulatory bodies across the world. This is likely to pose a minor restraint on the global silica flour market in the coming years, as compliance with the latest workplace safety guidelines could reduce the profit margin.
The information in this preview comes from a Transparency Market Research report titled ‘Silica Flour Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.’
The global silica flour market is segmented as follows:
Silica Flour Market – Application Analysis
Ceramic frits & glaze
Glass & clay production
Others (Including pharmaceutical applications)
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