Major market players must direct their strategic focus towards acquisitions and mergers for enhanced product offerings, minimal operational costs, and increased global footprint
DUBAI, UAE / ACCESSWIRE / February 18, 2020 / Driven by an upswing in demand from food & beverages industry, the global silica sand market for glass making is pegged at a steady CAGR of over 4.5% during 2019 - 2029. Demand for enhanced aesthetic appearance, improved hygiene, better purchasing power, and greater per capita consumption are some of the growth levers steering the demand for silica sand in F&B industry, states a new study of Future Market Insights (FMI).
"Preference for glass containers or bottles for packaging of food and beverage products is increasing. Manufacturers of alcoholic drinks are prominently utilizing silica-based glass bottles for packaging. Technological innovations will further propel the growth of silica sand market for glass making," finds the FMI study.
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Key Takeaways of Silica Sand Market for Glass Making
- A whopping 97% of glasses such as fiber, container, and flat glasses are made using high-purity silica.
- Glass container will remain the leading application of silica during projection period.
- Food & beverages industry continues to contribute a substantial chunk of revenue share to market.
- East Asia would remain a highly lucrative market for silica sand for glass making.
Silica Sand Market for Glass Making - Top Growth Drivers
- Growing preference for sustainable, inert, and pure glass packaging is inflating sales of silica sand.
- Silica is witnessing increased uptake in pharmaceutical industry, which will be a strong growth driver.
- Reusability and recyclability of silica continue to encourage manufacturers to adopt silica sand-based glass products.
- Automotive industry is generating promising demand for silica-based light vehicle components.
- Solar panel installation initiatives by governments of major economies would push silica sand consumption.
Silica Sand Market for Glass Making - Key Restraints
- Manufacturers worldwide continue to face a major constraint in terms of high input costs.
- Frequent fluctuations in raw material pricing is a significant barrier to wider adoption.
- Depreciation of currency and amendments in government policies remains a key factor hampering market growth.
- Glass packaging is facing intense competition from plastic, metal, and paper packaging, thereby limiting silica sand sales.
Competitive Landscape
Prominent players in silica sand market for glass making include, but are not limited to, JLD Minerals, Imerys Refectory Minerals, U.S. Silica, and Sibelco Group. The market is fairly consolidated, with established players holding over 45% revenue share. Influential market players are opting for partnerships with regional and local players to enhance their global market foothold, variegate product offerings, and reduce operational costs. For instance, Saint-Gobain and Hindustan National Glass announced plans to invest US$ 750 Mn in India as a part of their capacity expansion strategy. Investments in developing countries will remain the key strategic focus of leading players in silica sand market for glass making.
Explore 26 tables and 126 figures in the study. Request ToC of the report at
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More About the Report
The 245-page study offers an in-depth market forecast and analysis on the silica sand market for glass making. The major categories encompassed by the report include purity (high purity, ultra-high purity), application (flat glass, fiber glass, glass container, special & technical, tableware), end-use (food & beverages packaging, cookware & utensils, automotive, pharmaceutical, industrial, construction, scientific instrument & analytical research) across seven regions (Oceania, Middle East & Africa, East Asia, South Asia, Latin America, Europe, North America).
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Future Market Insights
View source version on accesswire.com:
https://www.accesswire.com/576811/Silica-Sand-for-Glass-Making-to-Gain-Solid-Traction-in-FB-Industry-Reusability-and-Recyclability-of-Silica-Driving-Adoption-Future-Market-Insights
