Albany, NY -- (SBWIRE) -- 11/06/2018 -- Increasing prices of crude oil and growth in fiberglass industry are bolstering growth opportunities for the global silica flour market. A report, titled "Silica Flour Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026" suggests the market to continue exhibiting a steady growth between 2018 and 2026. Various factors favoring the market's expansion are studied at length in the report. Besides this, it provides insights into key restraints negatively impacting the market. The global silica flour market currently exhibits a moderately fragmented vendor landscape. The report studies in detail various strategies they adopt and gauges impact of the same on the overall market. The report is currently available for sale on ResearchMoz.us.
Silica flour finds several applications across diverse industries such as plastics, fiberglass, oil and gas, rubber, sodium silicate, paints, and others. Considering this, expansion in end-use industries will bode well for the market, paving way for its growth in the near future. As per the report, the increasing use of fiberglass in automotive, energy and power, chemicals, and metals and mining industries will in turn fuel the use of silica flour. This is because production of fiberglass involves the use of silica flour in various weight combinations depending on grade and class of fiberglass to be manufactured.
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According to the report, the U.S. and China have remained key producers of fiberglass for a very long time. China as per the study accounts for nearly half of the global production of fiberglass. However, it consumes only half of its production while exporting the rest. Europe has emerged as key export destination for China. Besides this, various China-based companies are looking to expand their footprint in North and Latin America. This is likely to create growth opportunities for the silica flour market as well.
Based on application, the global silica flour market can be categorized into fiberglass, sodium silicate, reinforcing filler, cultured marble, ceramic frits and glaze, foundry work, glass and clay production, oil well cement, and others. Of these, the fiberglass segment is forecast to remain dominant in the global silica flour market through the course of the forecast period. Besides this, the market is expected to find considerable demand in oil well cementing operations. Surge in crude oil prices is forecast to boost oil well drilling activities, subsequently increasing oil well cementing operations in the oil and gas industry. This will in turn fuel the demand for silica flour.
Regionally, Asia Pacific is expected to have stronghold in the global silica flour market. The expansion of various end-use industries will fuel the demand for silica flour in Asia Pacific. In addition to this, the report also profiles some of the leading market players such as International Silica Industries Company Plc., SCR-Sibelco N.V., U.S. Silica Holdings Inc., and others.