Global Silicon Dioxide (SiO2) Market to Grow at a CAGR of ~7% during 2022 – 2031 as a Result of Rising Installations of Solar Panels

 

Kenneth Research published a report titled “Silicon Dioxide (SiO2) Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global silicon dioxide market in terms of market segmentation by form, source, application, end users, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market

The global silicon dioxide (SiO2) market catered an approximate revenue figure of USD 8.35 billion in the year 2021 and is estimated to grow at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. On the basis of form, the market is divided into amorphous, quartz, crystalline, cristobalite, and tridymite. Among these, the amorphous segment is estimated to grow at a modest CAGR during the forecast period on the account of versatile properties of amorphous silicon is expected to encourage its use across multiple industries. Moreover, the growing use of silica in microelectronics and chromatograph is anticipated to drive the growth of the market.  

Silicon dioxide (SiO2) is found in the earth’s crust and is formed as a result of the reaction between silicon and oxygen, also known as silica. Easy availability of silicon dioxide (SiO2) in nature, increasing adoption of solar panels, and rising demand of silica in the construction industry are the factors expected to drive the growth of the global silicon dioxide market.

Based on region, the global silicon dioxide (SiO2) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Among these, the Asia Pacific region is estimated to grow by a significant CAGR over the forecast period. Factors such as growing industrialization & development, availability of resources, along with the maintenance of buildings and increasing development in microelectronics industry are anticipated to drive the market growth in the region.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Rising use of Silicon Dioxide (SiO2) in the Construction Industry to Boost the Market Growth

According to the Associated General Contractors (AGC), of America, the construction industry contributes nearly $1.4 trillion worth of structures each year in the U.S. The low concentration of silicon dioxide (SiO2) or silica sand is popularly used in the building and construction industry as a result of easy accessibility of silica in natural form. Silica sand is used in the production of numerous materials that play a key role in construction manufacturing. It is also used in the manufacturing of cement, along with lime and alumina. Moreover, it used in the manufacturing of bricks, which gives an operational base to the construction, thereby adding to the growth of global silicon dioxide (SiO2) market.

However, respiratory diseases caused by silica, and availability of silica substitutes are expected to operate as key restraint to the growth of global silicon dioxide (SiO2) market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global silicon dioxide (SiO2) market which includes company profiling American Elements, Tosoh Corporation, Merck KGaA, Tokuyama Corporation, Evonik Industries AG, GOLOVACH QUARTZ, Short Mountain Silica (Thiele Kaolin Company), Wacker Chemie AG, CABOT CORPORATION, Kurt J. Lesker Company, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global silicon dioxide (SiO2) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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https://www.kennethresearch.com/sample-request-10094819     

Kenneth Research is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.

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