Sodium Silicate Market size is anticipated to generate $9.2 billion by 2027

According to a new report published by Report Ocean titled, “Sodium Silicate Market by Form, Type, Grade, Application, and End Use: Opportunity Analysis and Industry Forecast, 2019–2027,” The Sodium Silicate market was valued at $7.2 billion in 2019, and is anticipated to generate $9.2 billion by 2027. The market is projected to experience growth at a CAGR of 3.7% from 2020 to 2027.

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Sodium silicate has many variants that are used in almost every industrial sector. It has a range of chemical formula varying in sodium oxide (Na2O) and silicon dioxide or silica (SiO2) contents or ratios. It is soluble in water and it is prepared by reacting silica sand and sodium carbonate.

The sodium silicate market growth is attributed to rise in application in detergents and soap industry. Moreover, factors such as rise in demand from rubber and tire industry for abrasion and wear resistant properties, acts as sodium silicate market drivers. Furthermore, increased demand from pulp & paper industry especially recycled and waste paper also attributes toward the sodium silicate market growth. However, availability of substitutes and hazardous effects on human restraint the market growth. Meanwhile, growth in the construction industry that has applications of sodium silicate offers lucrative opportunity for the sodium silicate industry growth.

The global sodium silicate market is segmented on the basis of form, type, grade, application, end use, and region. Depending on form, the market is bifurcated into crystalline and anhydrous. The crystalline segment dominated the market in 2019, and is expected to grow fastest during the forecasted period. This is attributed to the fact that crystalline sodium silicate has various applications in industrial activities especially refractories and tube winding.

With respect to type, the sodium silicate market is bifurcated into liquid and solid. The liquid segment dominated the market for 2019, however, the solid segment is expected to grow at higher pace, owing to ease in transportation, low cost, and high solubility in water. Depending on grades, the market is divided into neutral and alkaline. The alkaline segment dominated the market for 2019; however, the neutral segment is expected to grow at a faster pace during the forecast period, owing to increased applications in cleaning activities.

Based on application, the market is divided into paints, adhesives, refractories, tube winding, detergent, catalyst, and others. The detergent segment dominated the market in 2019, however, adhesive is expected to grow at a higher CAGR during the forecast period, owing to its increased use in construction, insulation, paper boarding, and other industries. Based on end use, the market is categorized into pulp & paper, construction, automotive, and others. The construction sector dominated the market in 2019; however, the pulp & paper sector is expected to grow at faster pace during the forecast period.

Based on region, the sodium silicate market analysis is done across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the market in 2019 while North America is expected to grow during forecast period, which is attributed to rise in demand for sodium silicate applications from various end-use industries, including industrial, pulp & paper, and construction.

The key players operating in the market are 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., and Kiran Global Chem Limited. The players in the market have adopted several strategies, such as product launch and business expansion, to sustain the market competition.

Key findings of the study

Global sodium silicate market size is provided in terms of revenue
By region, North America is projected to grow at the highest CAGR of approximately 4.3%, in terms of revenue, during the forecast period.
By application, the adhesive segment is anticipated to grow with CAGR 4.5%, in terms of revenue, during the forecast period.
By end use, the pulp & paper and construction segments dominated the market with a revenue share of over 24.1% and 29.6% in 2019. The report provides a comprehensive analysis of the factors that drive and restrain the sodium silicate market growth
A comprehensive analysis of the factors that drive and restrain the sodium silicate market growth is provided
The qualitative data in this report aims at the sodium silicate market trends, dynamics, and developments in the sodium silicate industry
The sodium silicate market forecast and estimations are based on factors impacting the market growth.

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This release was published on openPR.