Press release
Ethyl Polysilicate Market 2021: Industry Growth, Competitive Analysis, Future Prospects and Forecast to 2025
Ethyl Polysilicate Market
Ethyl polysilicate finds diverse application in paints and coating, mortars, cement, and weatherproofing. It is primarily used in chemical-resistant paints, protective coatings, and lacquers. Gripping demand for technical textiles driven by strict health, environmental, and safety regulations could favor ethyl polysilicate businesses. According to credible reports, in India, technical textile accounts for around 13% of the country’s total textile industry. The product has vast potential to fulfill the country’s consumption gap.
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Gaining significance in pharmaceutical sector
Ethyl polysilicate is used for maintaining airtight covering that is required for preventing drug contamination. Mounting cases of chronic diseases like diabetes and cholesterol issues as to adoption of a sedentary lifestyle could anchor product demand in the pharmaceutical sector. The ethyl polysilicate market is anticipated to witness gains of over 3.0% from the pharmaceutical industry by 2025. New, government backed investments in the pharmaceutical sector may accelerate product penetration.
Rising demand for paints in India
Ethyl polysilicate supports properties like drying time reduction and water-resistant in paints and coatings. As per a report, the India ethyl polysilicate market from the paints & coatings sector is likely to exceed USD 27.5 million at the end of 2025. This projected growth can likely be due to rising infrastructure development like building of new schools and colleges in the region.
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Lucrative business strategies
Some major players operating in the ethyl polysilicate market include of Wacker, Nangtong Chengua Chemical, COLCOAT, Momentive, Evonik, and Changzhou Wujin Hengye Chemical. These firms are focusing on undertaking taking strategic initiatives like increasing production capacity, investing in R&D and new product launches for catering to the rising demand, and maintaining a competitive edge in the market. In 2019, BASF revealed investing a double-digit euro million fund in upgradation of its silica facility in the Düsseldorf-Holthausen site.
Growing demand for eyewear
The optical industry segment in the ethyl polysilicate market is likely to witness significant gains of over 2.5% by 2025. With number of ophthalmic disorders rising worldwide, the demand for eyewear may boost considerably in the forthcoming years. Ethyl polysilicate has application in manufacturing eyeglass frames as to its quality of binding two surfaces together. Increasing spending on luxury products like eyewear could supplement product demand.
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Global Market Insights, Inc.
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