iAbrasive: World Industrial Silica Sand Demand to Grow 4.8% Annually through 2016
Zhengzhou, China (PRWEB) February 24, 2014 -- iAbrasive, a famous B2B trade platform for abrasives and abrasive products, recently indicates in a survey that the global industrial silica sand demand is forecast to increase 4.8 percent yearly through 2016, driven by the current motor vehicle production.
As it shows in the research, Global demand for industrial silica sand is projected to grow 4.8 percent annually to 280 million metric tons in 2016, with a value of $9.2 billion. Glass production and foundries will continue to be the largest markets, although faster gains will be registered by the developing hydraulic fracturing sector. The Asia/ Pacific region will account for the largest share of additional silica sand demand, driven by a healthy outlook for construction and foundry output, particularly in China and India. Outside of Asia, the best prospects are expected in the large US market, which is benefiting from its current dominance of hydraulic fracturing activity as well as a rebound in construction and motor vehicle production.(according to data on http://www.freedoniagroup.com/industry-study/2940/world-industrial-silica-sand.htm)
Demand in the foundry sector, which runs a close second to glass in market share, will improve significantly based on a general improvement in the global economic outlook and strong growth in motor vehicle production. Fastest overall gains in foundry sand demand will be in China and South America. Demand growth in most other markets will also accelerate due to improved economic conditions.
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Lei, iAbrasive.com, http://www.iabrasive.com/, +86 37186167220, [email protected]
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