Cristobalite Sand Market Demand, Recent Trends, Size and Share Estimation by 2029 with Top Players
As per as a report published Fortune Business Insights™ The global cristobalite sand market size is envisaged to gain steady momentum over the next few years owing to the astronomical growth in construction activities worldwide, finds Fortune Business Insights™ in its report, titled “Cristobalite Sand Market Size, Share & Industry Analysis, By Type (0.98, 0.99), By Application (Coating, Filler, Medical, Others) and Regional Forecast, 2021-2028”. The demand for housing and commercial spaces stemming from rapid economic development in many parts of the globe has increased the intensity of construction operations in major economies. The forecasts for the construction industry are astounding. According to a paper co-developed by Oxford Economics and Global Construction Perspectives, the value of the output from construction activities is set to hit USD 15.5 trillion by 2030, surging at an average rate of 85% over the next decade. India, China, and the US will account for 57% of this growth, as per the report’s findings. As an engineered stone, cristobalite sand has become an essential component in fulfilling various home-related needs. For example, its open structure allows it to be incorporated in other crystalline structures, such as those used for making kitchen sinks and tiles. Furthermore, governmental support for building activities is encouraging construction companies to invest in advanced materials and offer high-quality homes to buyers.
Questions Addressed by the Report:
- Which factors are positively influencing the size, share, and growth of the market?
- What are the challenges obstructing the market’s growth?
- What are the prime market segments and how have they been analyzed individually?
- What are the regional growth prospects of the market?
- Who are the prominent players in the market and what are their top strategies?
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Massive Disruptions to Construction Activities amid COVID-19 to Halt Market Growth
The COVID-19 pandemic has severely impacted construction activities across all major economies. Lockdowns, social distancing, and reduced workforce have caused unprecedented upheavals in this industry, which inevitably harm the cristobalite sand market growth in the immediate future. According to the Global Construction Activity Index developed by the UK-based Royal Institute of Chartered Surveyors (RICS), a fourth of all construction projects around the world were suspended in the second quarter of 2020, with on-site productivity shrinking by 12%. Moreover, infrastructure recovery is expected to be sluggish and the cost escalations are likely to exert enormous pressure on the construction industry in 2021. In India, according to the GDP data released by the Ministry of Statistics and Programme Implementation, the domestic construction sector slumped by a shocking 50.3% in the first quarter of 2020 as a result of the nationwide lockdown and reverse-migration of laborers. With constructions coming to an abrupt standstill, the employment of cristobalite sand for various housing needs is likely to remain low in 2021 as well.
Asia Pacific to Lead the Pack; North America to Create Promising Opportunities
Among regions, Asia Pacific is poised to dominate the cristobalite sand market share in the forthcoming years on account of rapid industrialization experienced by countries such as India and China in the last few decades. In addition, the region is home to a robust paints & coatings industry, especially in China, which will surge the uptake of silica-based minerals here. On the other hand, lucrative opportunities await companies in North America as the metallurgy and construction industries in the region expand at a stable rate. In Europe, the market will be primarily driven by the increasing spending by consumers on the interior and exterior aesthetics of living spaces.
Geographic Diversification of Operations by Key Players to Intensify Competition
The dynamics of the competitive landscape of this market are being shaped by the expansion of operations by key players in emerging markets. The demand for inventive construction materials is rising meteorically in developing nations and leading players in this market are seeking avenues to establish their footprint in these burgeoning regions.
- June 2019: Germany-based equipment supplier, Grenzebach, announced the completion of an 80,000-ton capacity cristobalite plant in Vietnam, completing its international quartet of such plants. The in-house production of cristobalite sand from natural quartz will allow the Vietnamese manufacturer to increase profitability and bring efficiency to the supply chain.
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List of Key Players Covered in the Cristobalite Sand Market Report:
- Guangxi Weisidun
- Goldstar Powders
- Lianyungang Changtong Silica Powder
- Hoben International
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