Fmi Revises SODIUM SILICATE MARKET Forecast, As Covid-19 Pandemic Continues To Expand Quickly

The global sodium silicate market is set to grow at a steady CAGR of 3% during the forecast period (2019 – 2029), as projected by a new report of Future Market Insights (FMI). The growth is primarily fueled by the sodium silicate's eco-friendly and non-toxic nature, which makes it ideal for numerous industrial applications such as detergents, adhesives, and coating, and deflocculated, among the wide range of industrial applications.

Sodium Silicate Market: Key Findings

  • Silica manufacturing will remain a major application and will significantly contribute to the market share, backed by surging demand for quartz, and precipitated silica.
  • Applications in detergents, pulp & paper, elastomers, food, and healthcare are propelling the demand for sodium silicate.
  • Asia Pacific will outpace other regions, and will account for more than half of global share, owing to increasing infrastructural development, which is propelling the demand for sodium silicate.
  • North America and Europe will collectively account for more than 1/5th of market share.
  • Developed economies such as the U.S. and U.K. are expected to provide lucrative opportunities to sodium silicate manufacturers.

Sodium Silicate Market: Key Driving Factors

  • Rising environmental concerns are pushing manufacturers in paper and pulp manufacturers to adopt eco-friendly raw materials, thereby propelling the sodium silicate market on the back of the material’s nature.
  • Water treatment and soil stabilization applications are increasingly employing sodium silicate as a cleaning agent and pH stabilizer, thus boosting the market.

Sodium Silicate Market: Key Restraint

  • The high cost of raw materials is likely to reduce the profit margins of the market players, thus impacting the overall growth.

Competition Landscape of Sodium Silicate Market

Some of the key players in the global sodium silicate landscape that are covered in this study include, but are not limited to, American Elements, J.M. Huber Corporation, MALPRO SILICA PRIVATE LIMITED, PPG Industries, Qingdao Dongyue Sodium Silicate Co Ltd, Zaclon, Shijiazhuang Shuanglian Chemical Industry, Tokuyama Corporation, BASF SE, Nippon Chemical Industrial, Evonik Industries AG, and IQE Group., among others. Market players are focusing on expanding to developing markets and research & development activities to develop innovative applications to cater to untapped industries such as welding, cement, agriculture, and food.

Press-release Source : https://www.globenewswire.com/news-release/2020/03/31/2009207/0/en/FMI-Observes-Sustainable-Manufacturing-Trends-in-Sodium-Silicate-Market.html

More About the Report

This Future Market Insights study of 250 pages offers actionable insights into the sodium silicate market. The market analysis is based on the application (detergents, catalyst, pulp & paper, elastomers, food & healthcare, & others), across five regions (Asia Pacific, Europe, Middle East & Africa, Latin America and North America).

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.

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