Press release
Sodium Silicate Market Report Details Growing Trends and Demands Analysis Forecast 2027
Sodium Silicate Market
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Key Drivers, Restraints, and Opportunities:
The market's growth is propelled by the increasing demand for sodium silicate in manufacturing detergents, soaps, rubbers, and tires, alongside heightened usage in the pulp & paper sector. However, challenges arise from sodium silicate's hazardous nature and the presence of substitutes. Nevertheless, opportunities emerge from expanding applications in the construction industry.
Impact of COVID-19:
The COVID-19 pandemic disrupted manufacturing operations worldwide due to lockdowns and raw material shortages, impacting the supply chain. Consequently, daily operations in sectors like paints, adhesives, detergents, and catalysts ceased, leading to reduced demand for sodium silicate. Nonetheless, as lockdown restrictions ease, demand is expected to rebound, narrowing the supply-demand gap.
Segment Analysis:
Form: The crystalline segment dominated the market in 2019, with applications in fireproofing mixtures, laundry, metal, and floor cleaning. It is anticipated to maintain its lead position, exhibiting the highest CAGR of 3.9% from 2020 to 2027.
End Use: The construction segment accounted for the highest revenue share in 2019, driven by its usage in soil stabilization, concrete hardening, and cement refractories. Conversely, the pulp & paper segment is forecasted to register the highest CAGR of 4.3%, owing to increased applications in paper processing.
Regional Analysis: North America is poised to witness the fastest CAGR of 4.3% due to rising activities in various industries. However, Asia-Pacific led the market in 2019 and is expected to maintain its dominance, attributed to the presence of numerous corporations and business expansions in the region.
Leading Market Players:
Key players in the sodium silicate market include 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.
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