WiseGuyRerports.com Added “Global Silica Foundry Sand Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” New Document to its Studies Database
The growth of the worldwide silica foundry sand market is attributed to multiple factors. The extensive application of silica foundry sand across different industry verticals is likely to be the principal cause that is likely to promote its market growth. In construction industry, is a high end-user of silica foundry sand. An escalation in the number of constructional activities has been reported. It due to the fast-paced industrialization and rapid urbanization, both residential and non-residential constructions are observed to increase. In addition, the need for metals is increasing, which, in turn, is bolstering the high rate of adoption of silica foundry sand. Moreover, silica foundry sand is used in the production of glass, ceramics, and others. The growing inclination of people towards luxurious lifestyle is prompting the sales of items of home décor that includes the aforementioned materials. Hence, likely to gain momentum for the global silica foundry sand market.
The global market growth is observed to be demand-driven. To illustrate, silica foundry sand plays a significant role in waste-water treatment plants. The surge in the need for hygienic clean drinking water due to growing world population can spur the growth of the global market. On the other hand, the fast-paced expansion of the silica foundry sand market can be hindered by lack of trained professionals.
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Listed here are some of the notable companies that are operating in the global silica foundry sand market. They are; Mitsubishi Corporation, Saint Gobain, SCR-Sibelco, Jiangsu Pacific Quartz, US Silica Holdings, Badger Mining Corporation, Kyshtym Mining, Fairmount Santrol, and Luoyang Kailin Foundry Material. Strong competition and deals signed among market players are expected to work in favour of the market.
The global silica foundry sand market has been segmented on the basis of type and application. By type, the market has been narrowed down to below 70 mesh, 70-100 mesh, 100-120 mesh, 120-200 mesh, and above 200 mesh. By application, the global market has been classified into core casting and mold casting.
Detailed Regional Analysis
By region, the global silica foundry market has been studied across North America, South America, Europe, Asia-Pacific, and the Middle East and Africa.
The Asia Pacific market is poised to generate substantial revenue. An upsurge in constructional activities, triggering the need for silica foundry sand is excepted to contribute significantly to the APAC market growth. In Europe, the market is expected to exhibit impressive growth pattern. The hefty funding from both governmental organization and private organizations for research activities is prompting development in the construction and other fields. Thereby, gaining traction for the global market. Moreover, the residence of high-cash silica sand foundries in Europe, is likely to boost the regional market growth.
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VRX Silica, a silica sand explorer, in 2017, announced Arrowsmith Silica Sand Project. In 2019, the project registered a pent-up stake. This demonstrates robust progression of the silica foundry market.
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