Sodium Silicate Market Expected to Collect USD 12.55 Billion by 2028 | Reports and data
Growing demand for sodium silicates from the construction industry is estimated to drive the market demand.
NEW YORK CITY, NY, USA, March 26, 2022 /EINPresswire.com/ — The sodium silicate market is expected to reach $12.55 billion by 2028, according to a new report from Reports and Data. This is due to the growing demand for sodium silicates from end user industries.
The competition is fierce in the market due to the presence of several manufacturers with large capacities in the world. The increasing use of sodium silicates as an adhesive/sealant in various manufacturing applications is driving the demand for the products. Sodium silicate is used to bond fiber drums, cardboard laminates, and paper towel and toilet paper cores, among other things.
Increasing deployment of sodium silicate in detergents owing to its excellent emulsifying property and high buffering property is expected to propel the market demand over the forecast period. Furthermore, growing consumer awareness for a healthy lifestyle coupled with rising per capita income is driving the development of the market. Also, the growth in the paper industry owing to the increasing use of paper towels and tissue paper, among others, is expected to boost the demand for the products.
The North America region holds a key position in the market owing to the presence of several oil refineries, pulp and paper industries, and detergent manufacturing companies. Moreover, the easy availability of raw materials in the region is essential to drive the growth of the market.
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Major participants include Evonik Industries AG, Solvay SA, PQ Corporation, BASF SE, CIECH Group, WR Grace & Company, Tokuyama Corporation, Sinchem Silica Gel Company Ltd., Shangyu Huachang Industrial Co., and PPG Industries Inc., among others.
Other key findings from the report suggest
By product form, sodium silicate solid held a larger market share in 2018 and is expected to grow at a rate of 4.2% over the forecast period. It is used in a wide variety of applications, including detergents and soaps, pulps and papers, adhesives and sealants, gels and powders, and water treatment, among others.
By application, detergents contributed the largest market share in 2018 and is expected to witness a growth rate of 3.4% over the forecast period. Sodium silicate is used as a builder in many commercial detergents, due to its benefits in preventing mineral deposits on surfaces after washing by removing hardness from water.
The Asia-Pacific region dominated the market in 2018 and is expected to grow at a rate of 4.3% over the forecast period. This is mainly due to the growth in building and construction activities coupled with the growing use of detergents in the region. In addition, an increase in consumer purchasing power parity due to increase in disposable income level of people is expected to drive demand for products in the region.
In April 2019, BASF invested in the modernization of its silica plant at the Düsseldorf-Holthausen site. The investment is allocated to the modernization and upgrading of existing facilities over the next ten years. The investment is intended to provide customers with high-value silicates.
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For the purposes of this report, the 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, Kilotons; 2018-2028 and Revenue, USD Million; 2018-2028)
Liquid sodium silicate
Solid sodium silicate
Application Outlook (Volume, Kilotons; 2018-2028 and Revenue, USD Million; 2018-2028)
Adhesives and sealants
Industry Vertical Outlook (Volume, Kilotons; 2018-2028 & Revenue, USD Million; 2018-2028)
food and drinks
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Regional Outlook (Volume, Kilotons; 2018-2028 and Revenue, USD Million; 2018-2028)
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