Sodium Silicate Market Size is Expected to Boom at a CAGR of 3.7% By 2027

Surge in demand for manufacturing detergents, soaps, rubbers, and tires and increased demand from the pulp & paper industry drive the growth of the global sodium silicate market. However, hazardous nature of sodium silicate and availability of substitutes hinder the market growth. On the other hand, increase in application in the construction industry presents new opportunities in the coming years.

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A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.

The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.

The construction segment held the highest market share in 2019, accounting for nearly one-third of the global sodium silicate market, and is estimated to maintain its leadership status in terms of revenue throughout the forecast period. This is due to its usage in soil stabilization, concrete hardening, and cement refractories. However, the pulp & paper segment is expected to portray the highest CAGR of 4.3% from 2020 to 2027, owing to its increased use in fresh as well as recycled paper for de-inking and brightening pulps.

The Sodium silicate market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.

North America is expected to witness the fastest CAGR of 4.3% during the forecast period. This is due to increase in activities in construction, detergent, catalyst, tube winding, and paper & pulp industries in the region. However, Asia-Pacific contributed to the largest market share in 2019, holding more than two-fifths of the global sodium silicate market, and is estimated to maintain its dominant share by 2027. This is attributed to presence of large number of corporations and expansion of businesses by market players in the region.

Sodium Silicate Companies Covered Market:- 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., Kiran Global Chem Limited and Other.

Analysis of COVID-19 impact:

The outbreak of the pandemic has had a massive impact on the majority of industries and the Sodium silicate market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Sodium silicate market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.

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