Global Silica Minerals Mining Market Size By Product, By Application, By Geographic Scope And Forecast

Report Highlights

Silica Minerals Mining Market Size And Forecast
Silica Minerals Mining Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2020 to 2027.

Global Silica Minerals Mining Market Overview
The global silica minerals mining market will grow at a significant CAGR during the estimated period, owing to the resurgence of the global gas industry, the silica minerals mining industry has been experiencing a huge demand for sand. Silica sand is utilized in the oil industry for the hydraulic fracturing process as it assists in the extraction of gasses. With the growing demand for silica from oil companies, the growth prospects for this market will witness a stark rise until the end of the predicted period. The market demand for silica minerals is very high owing to an expansion in horizontal well drilling by oil companies. Service companies such as Schlumberger are always refining fracking methods and technologies so that they can maximize hydrocarbon recovery from every well. One of the commonly utilized methods is horizontal drilling, which requires more stages in the fracking process. This means that more proppant has to be utilized at each stage, resulting in a higher need for silica sand. This market trend endorses the growth of the silica minerals mining market during the estimated period.