by 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 Overview:
Environmental silica refers to high-purity silica sand or crystalline silica used for several environmental applications. It is used as a filtration medium in water and wastewater treatment plants to filter out suspended particles from water. Silica sand effectively traps and removes solid contaminants through mechanical and physical means. It is also used as a catalyst carrier and support in several emissions control technologies to reduce air pollutants from automobile exhausts and industrial flue gases. The rising environmental regulations regarding pollution control and water treatment worldwide has driven the demand for environmental silica in recent years.
Market key trends:
One of the key trends in the environmental silica market is the growing freshwater scarcity worldwide prompting increased investments in water treatment facilities. According to UN World Water Development Report, nearly half of the world’s population will be living in water-stressed areas by 2025. This has boosted the demand for environmental silica for water filtration applications. Another major trend is the stringent emission control regulations in developed regions such as North America and Europe necessitating reduced emissions from automobiles and industries. This is propelling the adoption of environmental silica-based catalyst supports in emission control systems. Rising industrialization and urbanization in developing economies of Asia Pacific is also augmenting the consumption of environmental silica for various pollution treatment applications.
Porter’s Analysis
Threat of new entrants: The environmental silica market requires huge investments and manufacturing plants with complex technology and equipment. Thus, high initial costs pose barriers for new players to enter this market.
Bargaining power of buyers: Buyers have moderate bargaining power in the environmental silica market due to availability of substitutes. However, strict environmental regulations favor established players.
Bargaining power of suppliers: Few global players control the supply of silica making the supplier power moderate to high in this market.
Threat of new substitutes: Clay and sand are economically available substitutes. However, silica scores better in filtration and performance applications with advances in processing technology.
Competitive rivalry: The market is moderately competitive with large players investing in R&D and capacity expansion to gain market share globally.
Key Takeaways
The Global Environmental Silica Market Size is expected to witness high growth, exhibiting CAGR of 9.8% over the forecast period, due to increasing demand from filtration and additives applications. The market size for environmental silica is estimated to reach US$ 2.45 Bn by 2023.
Regional analysis: Asia Pacific dominates the global market and is estimated to grow at the fastest pace during the forecast period owing to large production facilities and growing construction activities in China and India.
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. These players are focusing on regional expansion and new product development to gain higher shares.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
