Theglobal silicaflour market size is projected to reach USD 502.6 million by 2027owing to the increasing utilization of the material in the production ofceramic, states Fortune Business Insights™ in its report, titled “SilicaFlour Market, 2020-2027”. As per the report, the value of the market stoodat USD 397.5 million in 2019 and is projected to register a CAGR of 3.5%from 2020 to 2027.
COVID-19Impact
COVID-19has put a halt on most of the operations around the globe in the first quarterof the global pandemic. As a result of which, the mining processes at all levels were affected. The complete shutdown of the mines has disrupted the supply of the raw materials required for silica flour, thereby restraining its growth during the forecast period.
U.S.Silica Acquires Former Ceramic Proppant Facility
InJuly 2019, U.S. Silica announced the acquisition of a former ceramic proppantfacility in Georgia, the U.S. With the help of the new facility, the companywill be able to lower its production cost and improve its supply chain. This will also help the company move down in the value chain. In addition, the launch of this facility is anticipated to aid the company to accelerate product development and facilitate product customization as requested by the clientele, thereby boosting the silica flour market growth.
Paintsand Coatings Segment to Register Highest Growth
Basedon application, the market is segmented into paints & coatings, polymers,glass, and ceramics (sanitary ware, tiles, and others). The paints and coatings segment is expected to register the highest growth owing to the properties offered by silica, such as reflectance, brightness, and color consistency, that are ideal for producing paint. On the other hand, the ceramic segment held a share of 5.3% in 2019. In terms of the region, the market has been clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
IncreasingDisposable Income from the Developing Part of Asia Pacific to Strengthen Demand
TheAsia Pacific silica flour market is projected to witness significant growthduring the forecast period. The market secured a total value of USD 157.1 million in 2019. The increasing disposable income of the population in major countries of the region is estimated to accelerate the demand for silica flour in the region.
NorthAmerica is projected to hold a considerable silica flour market share in theupcoming future. The key factor boosting the market growth of silica flour in the region is the rapid expansion observed in industries, such as paints & coatings and oil & gas.
Innovationand Research to Aid Key Players offer more Efficient Products
Prominentmanufacturers operating in the global market are focusing on innovation andresearch in order to offer a wide variety of products to their customers. This will help them expand their portfolio and expand their customer base. For instance, U.S. Silica has developed core proficiencies in operations, such as mining, processing logistics, and materials science, enabling the company to offer over 400 products worldwide.
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