Press release
Sodium Silicate Market is growing with a healthy CAGR of 3% during the forecast period of 2019 - 2029
Sodium silicate manufacturers can earn profitable revenues by leveraging opportunities presented by prevalence of environment efficient rubber tires, wastewater treatment, and soil stabilization. Market players are developing products for untapped industries such as welding, agriculture, and food.
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Key Takeaway of Sodium Silicate Market Study
• Sodium Silicate market is valued at US$ 5.6 Bn in 2018 growing at a lackluster CAGR during the forecast period.
• Asia Pacific (APAC) holds a major market share with more than 53% of the total market value. India, a developing economy in APAC is expected to grow at a promising 5% CAGR from 2019 to 2029.
• Amid resurgent infrastructure industry and growing demand for green-alternatives, demand from the US will grow at an astounding 12% CAGR through the end of 2029.
Infrastructure Impels Future Demand Growth
Major manufacturers of sodium silicate are involved in research and development of products, mergers, acquisitions, and expansion of global footprint via strategic stakeholder partnerships. APAC reigns supreme with share-wide dominance, attributable to surge in demand for end-use industry products that employ sodium silicate such as rubber tires, water treatment, and construction. North America offers lucrative growth opportunities where the US exhibits a double digit 12% CAGR during the forecast period.
Recovering infrastructure in the US propels regional growth during the forecast period. European countries such as Germany is driven by increasing demand for compound in pulp & paper, healthcare, and elastomer filler for rubber tires. Emerging economies in Latin America and MEA are following the footsteps of early adopters with infrastructure development and proactive environmental consciousness.
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Sustainable Manufacturing Trends Propel Sodium Silicate Market
Silica manufacturing from sodium silicate will lead sodium silicate market share on the back of multiplying demand for silica products such as quartz, and precipitated silica. Other application types considered for the sodium silicate market study are detergents, catalysts, pulp & paper, elastomers, food & healthcare, and others. Increments in disposable income of millennial consumers is increasing awareness and emphasis on cleanliness and hygiene.
Rising environmental concerns impel a manufacturing shift among paper and pulp manufacturers to adopt eco-friendly raw materials. Similarly, water treatment and soil stabilization applications employ sodium silicate as a cleaning agent and pH stabilizer. Collectively, these factors will bolster demand for sodium silicate during the forecast.
Innovative Applications Influence Competitive Landscape - Sodium Silicate Market
sodium silicate market players stand to gain from global expansion in developing markets and research & development of innovative applications in untapped industries such as welding, cement, agriculture, and food. Business strategies such as mergers & acquisitions, joint ventures, and expansion of production capacity are expected to be seen during the forecast period. Detailed profiles of leading players are included in this report covering their recent developments, key offerings, short-term and long-term strategies.
Prominent companies in the sodium silicate market include American Elements, J.M. Huber Corporation, MALPRO SILICA PRIVATE LIMITED, PPG Industries, Qingdao Dongyue Sodium Silicate Co Ltd, Zaclon, Shijiazhuang Shuanglian Chemical Industry, Tokuyama Corporation, BASF SE, Nippon Chemical Industrial, and IQE Group.
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More About the Report
FMI’s study offers an in-depth market forecast and analysis on the global sodium silicate market. Major categories encompassed by the report include application type (detergents, catalyst, pulp & paper, elastomers, food & healthcare, & others), across five regions (Asia Pacific, Europe, Middle East & Africa, Latin America and North America).
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