The Global Industrial Silica Sand market is to grow at a CAGR of 4.50 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increased adoption of industrial silica sand for hydraulic fracturing. The Global Industrial Silica Sand market has also been witnessing the increasing focus toward R&D activities. However, increasing use of recycled silica sand could pose a challenge to the growth of this market.
With the increase in competition among the market vendors, several large industrial silica sand vendors are investigating opportunities to increase their market presence by differentiating their products from those of their competitors. To accomplish this goal, several vendors have started focusing more on their R and D activities in order to provide the best possible customized products to their customers that can effectively meet their specific requirements. For instance, Fairmount Minerals has established its new multi-million research center in Houston, Texas, US, to focus more on new innovative technologies that will help its customers achieve superior results. Thus, the increase in the R&D activities of industrial silica sand vendors will help the Global Industrial Silica Sand market grow at a steady rate during the forecast period.
The Global Industrial Silica Sand market is witnessing many growth drivers such as increased adoption of industrial silica sand for hydraulic fracturing. Several organizations across the globe prefer industrial silica sand for hydraulic fracturing because of its hardness and its cost-effectiveness.
A major challenge in the Global Industrial Silica Sand market is increased use of recycled silica sand. Several organizations across the globe have started using recycled material for glass production instead of using raw industrial silica sand, thereby creating a threat to the growth of the market.
Key vendors dominating this market space include namely Quarzwerke GmbH, U.S. Silica Holdings Inc., Fairmount Minerals Ltd., and Sibelco Group. Other vendors mentioned in the report: Preferred Sands LLC, Xinyi Golden Ruite Quartz Materials Co. Ltd., Xuzhou Shihang Silica Sand Co. Ltd., Zhuzhou Kibing Group Co. Ltd., J. R. Simplot Co., Pattison Sand Co. LLC, and CEMEX SAB de CV.
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