Market Analysis: High Purity Silica Sand Market, High-Purity Epoxy Resin Market, Hybrid Adhesive & Sealant Market forecasted for 2023-2030

SEATTLE, WASHINGTON, USA, July 7, 2023/EINPresswire.com/ -- The High Purity Silica Sand Market is expected to grow from USD 568.40 Million in 2022 to USD 826.90 Million by 2030, at a CAGR of 5.50% during the forecast period.The High Purity Silica Sand market is a lucrative target market with a high demand for its products. High purity silica sand is extensively used in the production of semiconductors, solar panels, and glass manufacturing, which are the major factors driving the revenue growth of the High Purity Silica Sand market. The ever-growing demand for high-quality products and the rapid growth of the semiconductor and solar panel industry are the primary reasons for the market's success.In addition, the increase in the construction and infrastructure development projects worldwide has led to an upsurge in the requirement for high purity silica sand, as it is an essential component in the production of concrete.

The market share percent valuation of the High Purity Silica Sand market varies by region. As of 2021, the Asia-Pacific region holds the largest market share, accounting for more than 50% of the global market share. The North American market holds the second-largest market share, followed by the European market. The Middle East and Africa, and Latin America regions are also expected to contribute to the growth of the market in the coming years. However, they hold smaller market share percentages compared to the aforementioned regions.

High purity silica sand is widely used in various applications such as electronics and semiconductors, solar (PV), optical, lighting, and others. In electronics and semiconductors, high purity silica sand is used as a material for manufacturing electronic components, including integrated circuits, transistors, and diodes. In solar (PV) applications, high purity silica sand is used to make photovoltaic cells and panels, while in optical applications, it is used to make lenses, prisms, and other optical components.

The global high purity silica sand market is highly competitive with the presence of many prominent players. Key players operating in the market include Sibelco, The Quartz Corp, Jiangsu Pacific Quartz, Russian Quartz, HPQ Materials, Donghai Shihu Quartz, and Donghai Colorful Mineral. These companies operate in the mining and refining of high purity silica sand and manufacture a variety of silica-based products used in end-use industries such as glass, foundry, chemical, and others.

In 2019, Sibelco reported sales revenue of approximately $3.4 billion, while The Quartz Corp reported sales revenue of approximately $60 million. HPQ Materials reported sales revenue of approximately $1.3 million in the same period. The exact sales revenue figures for the other companies mentioned above are not available, but they contribute significantly to the growth of the high purity silica sand market. These companies continue to expand their presence in the market, and as the demand for high purity silica sand continues to grow, they are expected to play a pivotal role in the growth of the market.

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The High-Purity Epoxy Resin Market is expected to grow from USD 1.20 Billion in 2022 to USD 2.00 Billion by 2030, at a CAGR of 7.80% during the forecast period.The high-purity epoxy resin market is expected to experience steady growth due to increasing demand from various industries such as electronics, aerospace, and automotive. High-purity epoxy resins are widely used in electronic components like circuit boards, adhesives, coatings, and laminates. Thus, the growth of the electronics industry will drive the demand for high-purity epoxy resins.Moreover, the increasing demand for lightweight and fuel-efficient vehicles, as well as the rise in the aviation industry, will propel the demand for high-purity epoxy resins.

In 2019, the Asia-Pacific region held the largest market share of the global high-purity epoxy resin market, accounting for about 45% of the total market share.North America and Europe are also expected to have significant growth in the high-purity epoxy resin market due to the growing demand for wind turbines, composites, and coatings in the regions. In 2019, North America held the second-largest market share of about 30%, while Europe held the third-largest market share of about 20%.Latin America and the Middle East and Africa regions are projected to have moderate growth in the high-purity epoxy resin market due to the expanding construction industry and the increasing demand for electrical and electronic components. In 2019, Latin America held a market share of about 3% while the Middle East and Africa accounted for about 2% of the total market share.

The high-purity epoxy resin market is highly competitive and comprises many large players. Some of the prominent players operating in the market are Osaka Soda, Hexion, Epoxy Base Electronic, Huntsman, Aditya Birla Chemicals, DIC, Olin Corporation, Kukdo Chemical, Nan Ya Plastics, Chang Chun Plastics, and SHIN-A T&C. These companies have been focusing on expanding their product portfolio and increasing their market share with the help of several strategies such as mergers and acquisitions, partnerships, collaborations, and product launches.

Sales Revenue Figures:

- Huntsman: $6.4 billion in 2020
- Kukdo Chemical: $220 million in 2019
- Aditya Birla Chemicals: $2.42 billion in 2020

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The Hybrid Adhesive & Sealant Market is expected to grow from USD 10.60 Billion in 2022 to USD 18.90 Billion by 2030, at a CAGR of 8.70% during the forecast period.The Hybrid Adhesive & Sealant market is expected to witness significant growth over the forecast period, owing to the high versatility and durability of these products. These adhesives and sealants are used in various industries, including construction, automotive, aerospace, and marine. The increasing demand for high-performance adhesives and sealants that offer strong bonding strength, resistance to moisture, chemicals, and temperature, is driving the growth of the hybrid adhesive & sealant market.The construction industry is a major contributor to the growth of the hybrid adhesive & sealant market, due to the increasing demand for green buildings and energy-efficient structures. Hybrid adhesives and sealants are ideal for bonding and sealing building materials, such as concrete, wood, and steel.

There are different types of hybrid adhesive and sealant in the market today. The three most popular varieties are:

• MS Polymer Hybrid
• Epoxy-Polyurethane
• Epoxy-Cyanoacrylate

North America is projected to hold the largest market share of the global hybrid adhesive and sealant market by 2023. The region is expected to account for a share of around 33% of the global market due to the rising demand for highly effective and eco-friendly products in various industrial applications.Europe is also projected to have a significant market share due to increasing demand from various industry verticals such as automotive, construction, and medical. The region is expected to hold a market share of around 27% by 2023.The Asia Pacific region is also expected to witness substantial growth during the forecast period. The rising demand for hybrid adhesive and sealants in China, Japan, and India for use in various industries such as automotive and construction is expected to drive the growth of the market in this region. The Asia Pacific region is projected to hold a market share of around 24% of the global market by 2023.

The global hybrid adhesive & sealant market is highly competitive and is largely dominated by key players like Henkel, Sika, 3M, ITW, Wacker, and Arkema. These companies are expected to dominate the market during the forecast period (2021-2026) due to their strong R&D capabilities, diversified product portfolios, and consistent investments in expanding their businesses.

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Mohit Patil
Prime PR Wire
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