Silica Market Size
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 6.38 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Silica Market Analysis
The Silica Market size is estimated at 517.09 Million tons in 2024, and is expected to reach 704.48 Million tons by 2029, growing at a CAGR of 6.38% during the forecast period (2024-2029).
The primary consumer for silica is the construction industry, which was negatively impacted by supply chain disruptions, lockdowns, and other challenges during the COVID-19 pandemic. However, with the restart of a few construction activities after the pandemic, the demand for silica started to gain momentum, leading to a balanced market for silica in the construction industry. Increasing high-quality concrete usage is also expected to drive the market in the upcoming years. The use of silica in electronics is another major factor that is likely to drive the market.
- The rising demand for precipitated silica for different end users and rapidly expanding construction activities are likely to drive the growth of the silica market.
- On the flip side, competition from substitute products is expected to hinder the market’s growth.
- The growing emergence of green tires and the increasing adoption of electric and self-driving cars are expected to unveil new opportunities for the market studied.
- Asia-Pacific is expected to dominate the silica market due to the high demand from China, Japan, and India.
Silica Market Trends
Increasing Demand from the Building and Construction Industry
- Silica is one of the primary components in various building and construction products. For improved durability and structural integrity, whole-grain silica is used in flooring, mortars, specialty cement, roofing shingles, asphalt mixtures, skid-resistant surfaces, and other industrial materials.
- Asia-Pacific is dominating construction activities worldwide. The area is registering fast economic growth and increasing construction in China, India, Japan, and Indonesia, among others. According to Oxford Economics, the global construction industry is expected to grow by USD 4.5 trillion, or 42%, between 2020 and 2030 to reach USD 15.2 trillion.
- The housing sales in India reached 151,138 units in the first half of 2023, which increased by 24.4% compared to the same period in 2022, as per the Jones Lang LaSalle IP (JLL India). The growth has been the highest over the last couple of years. The sales of luxury homes in the country sharply increased by 130% in the first half of 2023 compared to the same period in 2022, as per the India Brand Equity Foundation (IBEF).
- The construction sector in Asia-Pacific is growing at a healthy rate, owing to the rising population, increasing income of the middle-income groups, and urbanization. In Asia-Pacific, China is one of the leading countries in terms of shopping center construction. China has almost 4,000 shopping centers, while 7,000 more are estimated to open by 2025.
- According to the United States Census Bureau, the value or spending on the total public and private constructions in 2023 was USD 1,978.7 billion, 7% higher than the USD 1,848.7 billion spent in 2022. The spending on private construction in 2023 was USD 1,541.0 billion, 4.7% more than USD 1,472.4 billion in 2022. Such trends in construction may boost the market during the forecast period.
- In Brazil, according to Urban Affairs Minister Jader Filho, the new rules of the Minha Casa, Minha Vida (My Home, My Life) program have been introduced to reduce interest rates and increase subsidies for property purchases. Thus, the program will contribute to the goal of building 2 million housing units by 2026. In July 2023, Brazilian President Luiz Inácio Lula da Silva introduced a development plan worth USD 200 billion for infrastructure, energy, and transportation over the next four years.
- All such factors will likely propel the demand for silica sand during the forecast years.
Asia-Pacific to Dominate the Market
- Asia-Pacific is expected to be the dominant market for silica consumption, as China and India dominate the demand from end-user industries such as building and construction, electronics, and glass manufacturing.
- According to the National Bureau of Statistics of China, the country's building industry is expanding at a rapid pace. China's construction output was valued at around CNY 31.59 trillion (USD 4.44 trillion) in 2023, increasing from CNY 31.2 trillion (USD 4.39 trillion) in 2022.
- In 2020, China unveiled its plans to invest USD 1.43 trillion in key construction projects for five years till 2025. According to the National Development and Reform Commission (NDRC), the Shanghai plan calls for a total investment of USD 38.7 billion over the next three years. Guangzhou, on the other hand, signed 16 new infrastructure projects for USD 8.09 billion. Such initiatives can significantly propel the market in China and the overall region.
- India's construction industry is the second-largest industry in the country, accounting for a significant share of its GDP. For instance, according to the Ministry of Statistics & Programme Implementation, the construction industry accounted for a share of about 8.2% of India's GDP (2022-2023).
- According to the India Brand Equity Foundation, the real estate sector in India is expected to reach USD 1 trillion by 2030, and by 2025, it is estimated to contribute 13% to the country’s GDP.
- The Government of India’s Housing for All initiative is expected to bring USD 1.3 trillion in investment in the housing industry by 2025. In 2024, the rate of affordable housing availability is projected to increase by roughly 70%.
- The Japanese construction industry is projected to boom as the country prepares to host the World Expo in Osaka, Japan, in 2025. The Yaesu redevelopment project, which includes a 61-story, 390-meter-tall office tower, was scheduled to be completed in 2023 and 2027, respectively.
- Due to such factors, Asia-Pacific is expected to dominate the market during the forecast period.
Silica Industry Overview
The silica market is fragmented, with both international and domestic players. The major companies (not in any particular) in the market studied include Covia Holdings LLC, US Silica, Sibelco, Cabot Corporation, and Evonik Industries AG.
Silica Market Leaders
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US Silica
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Sibelco
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Evonik Industries AG
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Cabot Corporation
-
Covia Holdings LLC
*Disclaimer: Major Players sorted in no particular order
Silica Market News
- January 2024: Nouryon announced the completion of a production capacity expansion of nearly 50% for its Levasil colloidal silica products at its manufacturing facility in Green Bay, Wisconsin, United States. The expansion aims to address the rising demand for colloidal silica, particularly in North America, and strategically expand the company’s global colloidal silica manufacturing footprint to serve regional and global customers.
- February 2024: Evonik Industries AG undertook a significant investment in the expansion of its precipitated silica plant at the Charleston site in South Carolina to meet the escalating demand, particularly from the tire industry in North America, and enhance the resilience of supply chains for Evonik partners in the region by facilitating local silica sourcing.
- November 2023: Covia Holdings LLC announced that mining operations at its Gore facility in Virginia will be idled in Q1 of 2024. This facility's recent product portfolio focused on the glass and construction end markets, such as Glassil high-purity glass sand and Granusil high-performance industrial silica.
Silica Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Increasing Demand of Precipitated Silica for Different End Uses
- 4.1.2 Rapidly Expanding Construction Activities
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4.2 Restraints
- 4.2.1 Competition from Substitute Products
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
- 4.5 Technological Snapshot
5. MARKET SEGMENTATION (Market Size in Volume)
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5.1 Type
- 5.1.1 Amorphous
- 5.1.1.1 Pyrogenic/Fumed
- 5.1.1.2 Hydrated
- 5.1.2 Crystalline
- 5.1.2.1 Quartz
- 5.1.2.2 Tridymite
- 5.1.2.3 Cristobalite
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5.2 End-user Industry
- 5.2.1 Building and Construction
- 5.2.2 Shale Oil and Gas
- 5.2.3 Glass Manufacturing
- 5.2.4 Water Treatment
- 5.2.5 Other End-user Industries
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Malaysia
- 5.3.1.6 Thailand
- 5.3.1.7 Indonesia
- 5.3.1.8 Vietnam
- 5.3.1.9 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Russia
- 5.3.3.6 Spain
- 5.3.3.7 NORDIC
- 5.3.3.8 Turkey
- 5.3.3.9 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Nigeria
- 5.3.5.4 Qatar
- 5.3.5.5 United Arab Emirates
- 5.3.5.6 Egypt
- 5.3.5.7 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 AGSCO Corp.
- 6.4.2 AMS Applied Material Solutions
- 6.4.3 Cabot Corporation
- 6.4.4 China-Henan Huamei Chemical Co. Ltd
- 6.4.5 Covia Holdings LLC
- 6.4.6 Denka Company Limited
- 6.4.7 Evonik Industries AG
- 6.4.8 Heraeus Holding
- 6.4.9 Kemitura Group AS
- 6.4.10 Merck KGaA
- 6.4.11 Madhu Silica Pvt. Ltd
- 6.4.12 Mitsubishi Chemical Corporation
- 6.4.13 Nouryon
- 6.4.14 OCI COMPANY Ltd
- 6.4.15 PPG Industries Inc.
- 6.4.16 Sibelco
- 6.4.17 Tokuyama Corporation
- 6.4.18 US Silica
- 6.4.19 Wacker Chemie AG
- 6.4.20 WR Grace & Co.-Conn.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growing Emergence of Green Tires
- 7.2 Growth in the Adoption of Electric Cars and Self-driving Cars
Silica Industry Segmentation
Silica, also known as silicon dioxide, is a compound of two elements in the earth's crust: silicon and oxygen. Currently, silica can be used in a wide range of applications. Silica sand is used in the form of Portland cement, mortar, and concrete, and sandstone is used in the construction of buildings and roads.
The market is segmented by type, end-user industry, and geography. By type, the market is segmented into amorphous and crystalline. By end-user industry, the market is segmented into building and construction, shale oil and gas, glass manufacturing, water treatment, and other end-user industries (paints and coatings, etc.). The report also covers the market sizes and forecasts for the silica market in 27 countries worldwide. For each segment, the market sizing and forecasts have been done based on volume (tons).
| Type | Amorphous | Pyrogenic/Fumed |
| Hydrated | ||
| Type | Crystalline | Quartz |
| Tridymite | ||
| Cristobalite | ||
| End-user Industry | Building and Construction | |
| Shale Oil and Gas | ||
| Glass Manufacturing | ||
| Water Treatment | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Malaysia | ||
| Thailand | ||
| Indonesia | ||
| Vietnam | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Russia | ||
| Spain | ||
| NORDIC | ||
| Turkey | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle East and Africa | Saudi Arabia |
| South Africa | ||
| Nigeria | ||
| Qatar | ||
| United Arab Emirates | ||
| Egypt | ||
| Rest of Middle East and Africa |
Silica Market Research FAQs
How big is the Silica Market?
The Silica Market size is expected to reach 517.09 million tons in 2024 and grow at a CAGR of 6.38% to reach 704.48 million tons by 2029.
What is the current Silica Market size?
In 2024, the Silica Market size is expected to reach 517.09 million tons.
Who are the key players in Silica Market?
US Silica, Sibelco, Evonik Industries AG, Cabot Corporation and Covia Holdings LLC are the major companies operating in the Silica Market.
Which is the fastest growing region in Silica Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Silica Market?
In 2024, the Asia Pacific accounts for the largest market share in Silica Market.
What years does this Silica Market cover, and what was the market size in 2023?
In 2023, the Silica Market size was estimated at 484.10 million tons. The report covers the Silica Market historical market size for years: . The report also forecasts the Silica Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Silica Industry Report
Statistics for the 2024 Silica market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Silica analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
