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.
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.
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COVID-19 impact analysis
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The sodium silicate market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the sodium silicate market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the sodium silicate market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
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.
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Some ruling enterprises in the global sodium silicate market are examined in the report along with the citation of innovative product launches by them, their collaborative undertakings & endeavors, several merges & acquisitions, and many more. The frontrunners operating in the global sodium silicate industry include Tokuyama Corporation, Evonik Industries AG, Merck Millipore Limited, Nippon Chemical Industrial Co. Ltd., PQ Group Holdings Inc., Occidental Petroleum Corporation.
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.
Major Inclusions-
- Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
- Analysis at country and regional level, which portrays the share of the product or service in different regions.
- Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
- The forecasted market outlook of the sodium silicate market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
- The COVID-19 impact on the sodium silicate market
- Post-sales support and free customization
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