Silica sand is used as a primary structural component in a wide variety of building and construction projects. It is an essential raw material in glass products to provide strength, colour, clarity, and other physical properties to the glass.
The Fact.MR report projects the value of the sodium silicate market will reach around US$9bn by 2031. Potassium silicate is projected to record above 4% CAGR over the decade.
Regionally, the market in China is expected to record 3% CAGR over forecast period of 2021-2031; North America is the most lucrative region and will generate over 50% revenue by 2031, according to Fact.MR.
The market in Germany projected to expand at above 4% CAGR through 2031.
“Increasing industrial activities in major countries and growing efforts to strengthen infrastructure have propelled demand for industrial silica sand,” according to a senior research analyst at Fact.MR.