Global Sodium Silicate Market Key Players 2018-2024 PPG Industries, BASF, Evonik, CIECH Group, Albemarle
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Oil and gas is one of the fastest galloping market as a result of high usage of catalyst in petroleum refineries for extracting gasoline is instrumental in influencing the global sodium silicate market growth over the forecast period. By 2017, the U.S. government had extended oil rig platforms increasing it from 1593 to 2029, to gain higher revenue and exploit significant opportunities in the market. Global demand for fuel had increased the usage of sodium silicate by way of catalyst cracking to meet fuel and energy supplier demand that will significantly grow the market over forecast period.
Market growth is restrained by harmful effect allied on excessive consumption of sodium silicate. Human intake of sodium silicate can cause irritation and inhalation related ailments. In addition, it may also cause lungs damage on injection and inhalation of high concentrate sodium silicate. Further, presence of substitutes products and variation in oil prices will negatively impact the water glass market demand over forecast period.
By form, liquid sodium silicate dominates the global sodium silicate market till 2024. Growing demand for liquid sodium silicate in paper & pulp, and adhesives will drive this segment in the coming period. The use of sodium silicate in paper-based products such as toilet tissues, paper towel cores, fiber drum binders and paperboard laminates due to its zero-toxicity and eco-friendly features will augment market demand over the forecast period.
By application, global market is primarily driven by the application of water glass in detergents. This segment will significantly grow, due to rise in consumer awareness regarding personal hygiene. Elastomers accounted for over 10% of the global market share in 2016. This growth is augmented by constant product consumption in automobiles, due to growing demand for green tires.
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Sodium Silicate Market, Application By Form
o Pulp & paper
o Food & healthcare
Sodium Silicate Market By Form
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Asia Pacific would grow over a CAGR of more than 2% during the entire timeframe. China’s detergent segment accounts for a share of over 60% of Asia Pacific sodium silicate market. Growing construction, automotive production and oil drilling operations will positively influence product demand in the forecast period. Europe market is majorly driven by paper & pulp and healthcare industry. Recycling operations of waste paper are growing substantially due to rising environment awareness which will further enhance the market by 2024.
Global market companies are Nippon Chemical, Oriental Silicas, PPG Industries, Evonik Industries, BASF, Huber, W.R Grace, PQ Corporation, etc. Few of these leading players in marketplace are substantially investing on research and development activities for enhancing overall product portfolio as well strengthen market positions.
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