Silica Sand Price Trend and Forecast

Silica Sand Regional Price Overview

Get the latest insights on price movement and trend analysis of Silica Sand in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Silica Sand Price Trend for the First Half of 2024

In the Asian markets, the price trend of silica sand remained confined in a narrow range in the first quarter before shooting northwards in the second. The initial months of the year were marked by the market's striking balance of supply and demand sectors. However, the market participants were concerned about the low demand from the construction industries, but favorable dynamics from other downstream sectors kept the market dynamics afloat throughout Q1’24.
 

Silica Sand Price Chart

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Meanwhile, in the second quarter, the trend moved in a positive direction with significant contributions from improving the construction sector and the adoption of several government schemes. Further, the growth momentum of the market was additionally propelled by substantial procurement from overseas players as well. This gave the profit margins of traders a significant boost as, despite escalating freight charges and transportation delays, the outlook of international markets remained on a higher end. In this surge, the major contribution was from the European nations. The Asian players reported a strong upsurge in shipments to Europe as the construction sector of European countries was buoyed by its revival based on increasing government spending and a slight decline in ECB’s interest rates.

Analyst Insight

According to Procurement Resource, the price of Silica Sand is expected to exhibit a positive journey in the forthcoming quarters, particularly under the influence of downstream construction industries and weak trading of the commodity around the globe.
 

Silica Sand Price Trend for the Second Half of 2023

Silica sand finds widespread industrial applications due to its unique properties. Its high purity and hardness make it valuable in the production of glass, ceramics, and refractory materials. In construction, silica sand is essential for producing concrete and mortar, providing strength and durability.

It serves as a key component in foundry molds for metal casting processes. Also, silica sand is used in filtration systems for water treatment and hydraulic fracturing in the oil and gas industry, which recently emerged as one of the most significant applications of silica sand.

In the H2 of 2023, initially, the oscillating demand dynamics and persistent dullness in the downstream industries projected a negative influence on the silica sand price trend. This downward trend in the market was also influenced by the slowdown in the economic momentum of China and several other Asian countries which raised the difficulties of not only the production sector but also for the traders.

However, the fluctuations stabilized slightly during the year-end months, with a mild rise in support from the consumer sector during the winter holiday season. Additionally, the automotive and construction activities in the Asian countries also regained their pace in the last quarter of 2023 but the effect of this positive influence was only visible in around the last month of the year.

Analyst Insight

According to Procurement Resource, the price trend of Silica Sand is expected to showcase mild appreciation as the downstream industries seem to be still struggling with the meek economic growth and oscillating interest of the consumer sector.
 

Silica Sand Price Trend for the First Half of 2023

The price trend for Silica Sand fluctuated in a very narrow range in the first half of 2023. The Silica Sand market primarily depends on the downstream demands from the construction sector as Silica Sand is majorly utilized as the main structural component in various construction-related processes and in glass, painting, and coating industries.

High global inflation, with Germany undergoing a Recession and two major US banks collapsing, hit the construction sector very severely. As the costs of living skyrocketed, people refrained from investing in construction and buildings too much; as a result, the demands remained in a slump. So, amidst such feeble demands, the Silica Sand prices didn’t have much room to improve. Overall, bearish market sentiments were observed.

Analyst Insight

According to Procurement Resource, the Silica Sand prices are expected to continue behaving in a similar manner since the downstream demands are expected to continue to remain unsettled in the coming months.

Procurement Resource provides latest prices of Silica Sand. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.