• John Watson

Global Silicon Dioxide Market Size to grow by US$ 16.25 Billion in 2030

Global Silicon Dioxide Market Size is expected to be worth USD 10.30 Billion in 2021 and is estimated to reach up to USD 16.25 Billion by 2030, at a compound annual growth rate (CAGR) of 6.60% from 2022 to 2030.


Silicon Dioxide Market

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The chemical compound silicon dioxide also referred to as silica and formed when silica and oxygen react, is widely distributed throughout the crust of the planet. The appearance and texture of this mineral might vary. In its unformed cluster of crystals in its natural condition, silicon dioxide has no discernible shape. Additionally, it has no smell and is a superior electrical conductor. The most widely used crystalline form of silicon dioxide is quartz, which is a frequent component of sandstone and granite. The wiring of electronic device motors frequently contains high-quality silicon dioxide. Thus, the motors conduct energy more effectively and other electronic equipment also operates more quickly and effectively because of silicon.


Scientists and medical professionals are unable to anticipate who would contract the virus and who will recover from it although it is relatively communicable. Governments from all across the world concluded that COVID-19 was a virus that needed to be controlled because it was hazardous. They implemented lockdowns and quarantines as a result. Since they weren't very effective, they were just transient. In any case, businesses in numerous industries all over the world suffered as a result of having to either temporarily halt production or drastically reduce it.


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The market for silicon dioxide has expanded as a result of the electrical industry's expanding need for silicon wafers and the building industry's growing need for silicon dioxide applications. The market for silicon dioxide can develop, but it is constrained by the presence of substitutes. The market will be driven by rising demand from end-use industries such as aerospace, oil & gas, chemical, and automotive for low-density materials with insulating qualities. NASA preferred to utilize it in the Stardust Spacecraft to gather extraterrestrial particles and trap any onboard dust particles. The market will rise as silica aerogel is increasingly used in imaging devices, light guides, and optical devices.


The Asia Pacific region is expected to dominate the market share due to rising demand from several end-use sectors, including oil & gas, automotive, and construction, Asia Pacific is predicted to hold the greatest position in the market. Due to the significant demand from the aerospace and oil & gas industries, North America is anticipated to have the second-largest share. Due to the demand from the automotive sector, Europe is anticipated to have significant growth. Due to increased gas and oil activity, the Middle East and Africa are anticipated to experience significant growth. By the end of the projected period, it is anticipated that Latin America would exhibit slow growth.


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KEY INDUSTRY DEVELOPMENTS:


October 2021- The resource at Metallica Minerals' Cape Flattery silica sand project in Far North Queensland, Australia, has been increased to 53.5 million tonnes with an in-situ silicon dioxide quality of 99.19 percent. The resource is expected to increase by 40% according to predictions made by Ausrocks' industrial mineral specialists utilizing assay data from the drilling campaign in August.


September 2021- The German multinational science and technology corporation Merck began operating a new production line for effect pigments made of silica at its facility in Gernsheim. With about 750 employees, it is the company's largest pigment production facility in the entire world.


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