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Press release content from MarketersMEDIA. The AP news staff was not involved in its creation.

Sodium Silicate Market – Outlook On Rising Application, Revolutionary Trends & Potential Growth Ways 2027

July 3, 2021 GMT

Surge in demand for manufacturing detergents, soaps, rubbers, and tires and increased demand from the pulp & paper industry drive the growth of the global sodium silicate market.

The global sodium silicate industry garnered $7.2 billion in 2019, and is expected to generate $9.2 billion by 2027, witnessing a CAGR of 3.7% from 2020 to 2027.

Drivers, restraints, and opportunities:

Surge in demand for manufacturing detergents, soaps, rubbers, and tires and increased demand from the pulp & paper industry drive the growth of the global sodium silicate market. However, hazardous nature of sodium silicate and availability of substitutes hinder the market growth. On the other hand, increase in application in the construction industry presents new opportunities in the coming years.

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Covid-19 Scenario:

• Manufacturing activities have been hindered due to lockdown in many countries. In addition, shortage of raw materials has occurred and the supply chain has disrupted.
• In addition, daily operations in manufacturing of paints, adhesives, detergents, and catalysts have been stopped, which in turn, reduced the demand for sodium silicate.
• The demand is expected to get back on track and the supply-demand gap would be reduced post-lockdown as day-to-day operations in the end-use industries resume.

The crystalline segment to maintain its lead position throughout the forecast period:

Based on form, the crystalline segment contributed to the highest market share, accounting for nearly two-thirds of the global sodium silicate market in 2019, and is expected to maintain its lead position throughout the forecast period. Moreover, this segment is projected to manifest the highest CAGR of 3.9% from 2020 to 2027. This is due to its application in fireproofing mixtures, laundry, dairy, metal, and floor cleaning. The report provides a detailed analysis of the anhydrous segment.

The construction segment to maintain its leadership status in terms of revenue by 2027:

Based on end use, the construction segment held the highest market share in 2019, accounting for nearly one-third of the global sodium silicate market, and is estimated to maintain its leadership status in terms of revenue throughout the forecast period. This is due to its usage in soil stabilization, concrete hardening, and cement refractories. However, the pulp & paper segment is expected to portray the highest CAGR of 4.3% from 2020 to 2027, owing to its increased use in fresh as well as recycled paper for de-inking and brightening pulps.

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North America to grow at the fastest rate:

Based on region, North America is expected to witness the fastest CAGR of 4.3% during the forecast period. This is due to increase in activities in construction, detergent, catalyst, tube winding, and paper & pulp industries in the region. However, Asia-Pacific contributed to the largest market share in 2019, holding more than two-fifths of the global sodium silicate market, and is estimated to maintain its dominant share by 2027. This is attributed to presence of large number of corporations and expansion of businesses by market players in the region.

Leading Market Players:

• Tokuyama Corporation
• Evonik Industries AG
• Merck Millipore Limited
• Nippon Chemical Industrial Co. Ltd.
• PQ Group Holdings Inc.
• Occidental Petroleum Corporation
• CIECH S.A.
• Sinchem Silica Gel Co. Ltd.
• Shijiazhuang Shuanglian Chemical Industry Co. Ltd.
• Kiran Global Chem Limited

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Contact Info:
Name: David Correa
Email: Send Email
Organization: Allied Market Research
Website: https://www.alliedmarketresearch.com

Source URL: https://marketersmedia.com/sodium-silicate-market-outlook-on-rising-application-revolutionary-trends-potential-growth-ways-2027/89032888

Source: MarketersMedia

Release ID: 89032888