According to the World Industrial Silica Sand study by The Freedonia Group, global demand for industrial silica sand is forecast to advance 5.5 percent per year to 291 million metric tons in 2018, with a value of $12.5 billion. This is expected due to increases in construction spending and manufacturing output worldwide.
The North American market is expected to experience rapid gains in the hydraulic fracturing market, reports the study, as horizontal drilling for shale oil and gas resources expands.
In addition, the Asia/Pacific region will remain the largest consumer of industrial sand through 2018 and the demand for silica sand in North America is expected to rise at a faster annual pace than any other regional market.
The study also reports that the U.S. and Canada will lead regional growth, and strength in U.S. oilfield activity will boost demand for sand proppants.
