As Applications & Uses Expand the Global Silica Market Size Expected to Reach $96 Billion By 2031
HP Inc. (HPQ)
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Source: GlobeNewswire
PALM BEACH, Fla., Nov. 12, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The global silica market has witnessed significant growth in recent years due to its wide range of applications across various industries. Silica, also known as silicon dioxide, is a naturally occurring compound found in abundance in the Earth's crust. It is available in different forms, such as quartz, sand, and silica gel, and is valued for its properties like high strength, hardness, and resistance to heat and chemicals. One of the major drivers for the global silica market is the increasing demand from the construction industry. Silica is a key ingredient in the production of concrete, where it is used as a filler and reinforcement material. A report from SKYQUEST projected that the Global Silica Market size, which was valued at USD 41.20 billion in 2022, is poised to grow from USD 45.28 billion in 2023 to 96.36 USD billion by 2031, growing at a CAGR of 9.9% during the forecast period (2024-2031
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