Press release
Sodium Silicate Market will become worth US$5.81 bn by 2025
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In this competitive market, keen players are mulling over strategic partnerships and mergers and acquisitions apart from pouring money into research and development for novel products. These players have also been involved in capacity expansion, which has resulted in demand-supply gap due to higher production volumes. This in turn, has restricted the entry of new players in the sodium silicate market.
A fresh business intelligence study by Transparency Market Research (TMR) reveals the global sodium silicate market to be expand at a CAGR of 1.92% for the forecast period between 2016 and 2025. Rising at this pace, the market’s valuation of US$4.9 bn in 2016 will become US$5.81 bn by the end of 2025.
Among the key application segments, in 2016, silica manufacturing led the overall market holding 26.8% share. The detergents segment held 15% of the market in 2016; going forward the segment is likely to display an increased market share. Geography-wise, Asia Pacific held the leading share of 54% in the overall market in 2016. Europe stood as the second-leading market holding 21.8% share in 2016.
Efficacy to Maintain Optimum pH of Cleaning Products Boosts Demand
The global sodium silicate market is anticipated to display significant growth over the forecast period between 2016 and 2025 mainly due to the rising demand for sodium silicate from a number of end-use industries such as construction and tire. For instance, the growing demand for environmental-friendly binders in the construction sector and increasing switch to green tires are expected to bode well for the sodium silicate industry.
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Over the past few years, rising disposable incomes and changing consumer preference in both developed and emerging economies have led to expansion of detergents and cleaning agents market. This is because rising awareness of the importance of staying healthy is augmenting the demand for detergents and cleaning agents. Sodium silicate allows to maintain effective pH level during cleaning operations. As a result, effectiveness of surfactants and soaps and detergency of cleaning products is improved. Due to these properties, sodium silicate has become a popular additive in detergents and cleaning products.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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