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 finds application as a filtering agent in water treatment plants. They find wide usage in water treatment applications to remove suspended particles from water to make it clean and safe for drinking and other purposes.
Market key trends:
One of the major trends in the environmental silica market is its increasing usage in the wastewater treatment industry. Stringent regulations regarding discharge of industrial effluents and wastewater is driving the demand for advanced filtration techniques using silica. The ability of silica to remove suspended particles and other impurities from water makes it a suitable filtering agent. Growing concerns over water pollution and increasing water treatment projects across the globe is expected to drive the consumption of environmental silica over the forecast period.
Market key trends:
One key trend in the environmental silica market is the growing use of silica sand in hydraulic fracturing applications. Hydraulic fracturing involves pumping fluid into shale rocks at high pressures to create fractures through which oil and gas can flow to extraction wells. Silica sand is a crucial proppant used in hydraulic fracturing as it helps to keep the fractures open during and after the fracturing process. The rising shale gas extraction activities in North America have significantly increased the demand for high-quality silica sand. Continuous technological advancements to improve hydraulic fracturing processes are also propelling the consumption of silica sand.
SWOT Analysis
Strength: High purity and hardness make silica suitable for industrial applications.
Weakness: Stringent mining regulations and restrictions can hamper production.
Opportunity: Growing shale gas extraction to drive demand for proppant materials.
Threats: Availability of substitutes like ceramic proppants pose competition. Rise in environmental concerns related to silica mining.
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 shale gas extraction activities. The market size for 2023 is US$ 2.45 Bn.
Regional analysis: North America dominates the global market due to major shale oil and gas reserves in the region and growth in hydraulic fracturing. countries like the USA are the fastest growing markets.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it