Sodium Silicate Market Latest Trends and Analysis, Future Growth Study by 2032 | Tokuyama Corporation, Merck Millipore Limited, Evonik Industries AG

Increase in application in the detergents and soap industry, demand from the rubber and tire industry for its abrasion and wear-resistant characteristics, and rise in demand from the pulp & paper industry drive the global sodium silicate market. However, the availability of substitutes and hazardous effects hinder the market growth. Contrarily, rise of the construction industry present lucrative opportunities in the coming years.

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.

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The global sodium silicate market generated $7.2 billion in 2019, and is projected to garner $9.2 billion by 2027, witnessing a CAGR of 3.7% from 2020 to 2027.

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 report sub-segments the market into anhydrous and crystalline. The crystalline segment held the market share in 2019, and is projected to grow at the fastest rate during the forecast period. This is due to various applications in industrial activities, especially in tube winding and refractories.

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.

The research bifurcates the market into liquid and solid. The liquid segment accounted for the highest market share for 2019, and will maintain its dominance throughout the forecast period. However, the solid segment is projected to register the higher growth rate. This is due to low cost, ease in transportation, and high solubility in water.

Sodium Silicate Covered Market:- Tokuyama Corporation, Merck Millipore Limited, Evonik Industries AG, PQ Group Holdings Inc., Nippon Chemical Industrial Co. Ltd., CIECH S.A., Occidental Petroleum Corporation 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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