Sodium Silicate Market to Garner $9.2 Billion, Globally, By 2027 at 3.7% CAGR, Says Allied Market Research
According to the report, the global sodium silicate industry garnered $7.2 billion in 2019, and is expected to generate $9.2 billion by 2027, witnessing a CAGR of 3.7% from 2020 to 2027.
Surge in demand for manufacturing detergents, soaps, rubbers, and tires and increased demand from the pulp & paper industry drive the growth of the global sodium silicate market.
PORTLAND, Ore., Feb. 23, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Sodium Silicate Market by Form (Crystalline and Anhydrous), Type (Liquid and Solid), Grade (Neutral and Alkaline), Application (Paints, Adhesives, Refractories Tube Winding, Detergent, Catalyst, and Others), and End Use (Pulp & Paper, Construction, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global sodium silicate industry garnered $7.2 billion in 2019, and is expected to generate $9.2 billion by 2027, witnessing a CAGR of 3.7% from 2020 to 2027.
Drivers, restraints, and opportunities
Surge in demand for manufacturing detergents, soaps, rubbers, and tires and increased demand from the pulp & paper industry drive the growth of the global sodium silicate market. However, hazardous nature of sodium silicate and availability of substitutes hinder the market growth. On the other hand, increase in application in the construction industry presents new opportunities in the coming years.
Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/6534
Covid-19 Scenario
- Manufacturing activities have been hindered due to lockdown in many countries. In addition, shortage of raw materials has occurred and the supply chain has disrupted.
- In addition, daily operations in manufacturing of paints, adhesives, detergents, and catalysts have been stopped, which in turn, reduced the demand for sodium silicate.
- The demand is expected to get back on track and the supply-demand gap would be reduced post-lockdown as day-to-day operations in the end-use industries resume.
The crystalline segment to maintain its lead position throughout the forecast period
Based on form, the crystalline segment contributed to the highest market share, accounting for nearly two-thirds of the global sodium silicate market in 2019, and is expected to maintain its lead position throughout the forecast period. Moreover, this segment is projected to manifest the highest CAGR of 3.9% from 2020 to 2027. This is due to its application in fireproofing mixtures, laundry, dairy, metal, and floor cleaning. The report provides a detailed analysis of the anhydrous segment.
Get Detailed COVID-19 Impact Analysis on the Sodium Silicate Market @ https://www.alliedmarketresearch.com/request-for-customization/6534?reqfor=covid
The construction segment to maintain its leadership status in terms of revenue by 2027
Based on end use, the construction segment held the highest market share in 2019, accounting for nearly one-third of the global sodium silicate market, and is estimated to maintain its leadership status in terms of revenue throughout the forecast period. This is due to its usage in soil stabilization, concrete hardening, and cement refractories. However, the pulp & paper segment is expected to portray the highest CAGR of 4.3% from 2020 to 2027, owing to its increased use in fresh as well as recycled paper for de-inking and brightening pulps.
North America to grow at the fastest rate
Based on region, North America is expected to witness the fastest CAGR of 4.3% during the forecast period. This is due to increase in activities in construction, detergent, catalyst, tube winding, and paper & pulp industries in the region. However, Asia-Pacific contributed to the largest market share in 2019, holding more than two-fifths of the global sodium silicate market, and is estimated to maintain its dominant share by 2027. This is attributed to presence of large number of corporations and expansion of businesses by market players in the region.
Leading Market Players
- 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.
- Kiran Global Chem Limited
Interested in Procuring This Report? Visit Here: https://www.alliedmarketresearch.com/sodium-silicate-market/purchase-options
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Similar Reports:
Ethylene Carbonate Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Caustic Soda Market: Global Opportunity Analysis and Industry Forecast, 2019–2026
Construction Chemicals Market: Global Opportunity Analysis and Industry Forecast, 2019 - 2026
Propionic Acid Market: Global Opportunity Analysis and Industry Forecast, 2019–2026
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
