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Sodium silicate market in Europe to see robust growth till 2024 | PQ Corporation, Huber, PPG Industries, BASF, Evonik, OxyChem, Silmaco NV, QUIMIALMEL, CIECH Group, Albemarle
sodium silicate market
Europe sodium silicate market share is likely to surge over the next few years through support from paper and pulp, and healthcare industries. The chemical is deployed as a filler in elastomers during production and see high demand in countries like Germany. Higher adoption of the compound in developing economies, including India, can be observed to meet the rising demand for detergents and other FMCG products. In the construction sector worldwide, sodium silicate acts as sealer in concrete countertops.
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In North America, burgeoning product demand owing to rising investments in building sector together with minor tax cuts and rising consumer spending will stir the regional industrial growth post-2020 dominant COVID-19 outbreak. W.R. Grace & Co partnered with Chevron Products and invested nearly USD 135 million to enhance the capacities at their existing alumina and sodium silicate production facility in Lake Charles.
Looking at the market landscape through a regional frame of reference, the sodium silicate market report is divided into Canada, U.S., Italy, UK, France, Germany, Spain, India, Japan, China, Australia, Indonesia, Malaysia, South Africa, GCC, Mexico and Brazil. The overall market landscape throughout the aforementioned regions are further segmented on the basis of market contribution, availability of market players, customer base and several other aspects influencing the industry share.
Moreover, the sodium silicate market report also further elaborates comprehensively on a number of insightful parameters that allow stakeholders to execute new business practices with relative ease. The sodium silicate industry report also includes critical information about SWOT analysis, several growth promoting factors and more.
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Global sodium silicate market outlook is strengthening on account of its usage across a broad spectrum of applications ranging from food to healthcare industries. In terms of revenue, global sodium silicate market size is anticipated to surpass USD 11 bn by 2024. Elevation in the level of awareness regarding sanitation is further fueling the product demand owing to its wide adoption as a vital composition in cleaning agents. Additionally, upsurge in demand for sodium silicate derivatives such as silica sols and silica gel in applications comprising plastics, ink, paints & coatings are fueling sodium silicate market trends.
Key players in the sodium silicate market are rapidly shifting their focus towards taking strategic measures such as investments and innovations to serve the needs of diverse end-use applications and fulfill the demand for efficient alternatives to conventional binders, adhesives, and cleaning chemicals.
Key players in the sodium silicate market are PQ Corporation, Huber, Nippon Chemical, PPG Industries, BASF, Evonik Industries, W.R Grace & Co, Oriental Silicas Corporation, Tokuyama Siltech Co. Ltd, Occidental Petroleum Corporation, OxyChem Corporation, Silmaco NV, QUIMIALMEL, CIECH Group, and Albemarle.
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