New York, NY -- (SBWire) -- 04/27/2021 --The global Sodium Silicate Market is expected to reach USD 12.55 Billion by 2028, according to a new report by Reports and Data. This is due to increasing demand for sodium silicates from the end-user industries.
An increase in demand for adhesives & sealants in the paper & pulp and construction industry is estimated to drive the growth of the market in the upcoming years. There is a stiff competition in the market owing to the presence of several manufacturers with large capacities worldwide. The increasing use of sodium silicates as an adhesive/sealant in various manufacturing applications are driving the product demand. The sodium silicate is used to bind fiber drums, paperboard laminates, and cores of paper towel and toilet tissues, among others.
Escalating deployment of sodium silicate in detergents owing to its excellent emulsifying and high buffering property is expected to propel the market demand in the forecast period. Also, increasing awareness for a healthy lifestyle among the consumers, coupled with rising per capita income is stimulating the development of the market. Besides, the growing paper industry due to increasing use of paper towels, and tissue paper, among others are likely to boost the product demand.
Additionally, technological advancements, and rising disposable income of people in emerging economies are anticipated to fuel the product demand in the upcoming years.
North America region holds a key position in the market owing to the presence of several oil refineries, pulp & paper industries, and detergent manufacturing companies. Moreover, the easy availability of raw materials in the region is pivotal in driving market growth.
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Further key findings from the report suggest
By product form, solid sodium silicate held a larger market share in 2018 and is expected to grow at a rate of 4.2% in the forecast period. It is used in a wide variety of applications, including detergents & soaps, pulp & paper, adhesives & sealants, gels & powders, and water treatment, among others.
By application, detergent contributed to the largest market share in 2018 and is expected to witness a growth rate of 3.4% in the forecast period. Sodium silicate is used as a building agent in many commercial detergents, owing to its benefits to prevent mineral deposits on surfaces after washing by eliminating water hardness.
The Asia Pacific region dominated the market in 2018 and is projected to grow at a rate of 4.3% in the forecast period. This is primarily due to the growth in building and construction activities coupled with the increasing use of detergents in the region. Also, an increase in the purchasing power parity of the consumer due to rise in the level of disposable income of people is expected to drive the product demand in the region.
Key participants include Evonik Industries AG, Solvay SA, PQ Corporation, BASF SE, CIECH Group, W.R. Grace & Company, Tokuyama Corporation, Sinchem Silica Gel Company Ltd., Shangyu Huachang Industrial Co., and PPG Industries Inc., among others.
In April 2019, BASF made an investment in the modernization of its silica plant at the Düsseldorf-Holthausen location. The investment is allocated for the modernization and upgradation of existing facilities over the next ten years. The investment is intended to serve customers with high-value silicates.
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For the purpose of this report, Reports and Data have segmented the global sodium silicate market on the basis of product form, application, industry vertical, and region:
Product Form Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
Liquid Sodium Silicate
Solid Sodium Silicate
Application Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
Adhesives & Sealants
Elastomer
Detergent
Flocculants
Catalyst
Others
Industry Vertical Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
Consumer Products
Automotive
Building & Construction
Food & Beverage
Oil & Gas
Others
Regional Outlook (Revenue in USD Billion; 2017–2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
TOC -
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020 – 2028
Chapter 3. Indicative Metrics
Chapter 4. Sodium Silicates Segmentation & Impact Analysis
4.1. Sodium Silicates Material Segmentation Analysis
4.2. Industrial Outlook
…………..
Chapter 9. Competitive Landscape
9.1. Market Revenue Share by Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
10.1. Evonik Industries AG
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. Solvay SA
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3. PQ Corporation
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4. BASF SE
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
10.5. CIECH Group
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Technology Insights
10.5.4. Strategic Initiatives
Continued……….
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Sodium Silicate market and its competitive landscape.
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Sodium Silicate Market Size, Growth Analysis and Recent Trends with Leading Participants - Evonik Industries AG, Solvay SA, PQ Corporation, BASF SE and More
Increasing demand for sodium silicates from the construction industry is estimated to stimulate market demand.