Sodium Silicate Market
Report ID: SQMIG15A2322
Report ID:
SQMIG15A2322 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
144
|Figures:
78
Sodium Silicate Market size was valued at USD 6.48 Billion in 2023 and is poised to grow from USD 6.71 Billion in 2024 to USD 9.22 Billion by 2032, growing at a CAGR of 3.6% during the forecast period (2025-2032).
Rising demand for several types of sodium derivatives like zeolites and precipitated silica as catalyst in various processes of bio and chemical is expected to be the key driving factor for the global sodium silicate market over the forecast period. In addition, increased usage of other derivatives such as silica gels and silica sols in various types of industries including plastics, paint & coatings, paper & pulp, and ink, is likely to have a positive impact on the growth of the market in the coming years. According to our findings, the overall global production of sodium silicate was around 26.65 million metric tons in 2019, and it is anticipated to reach a volume of around 33.09 million metric tons globally by 2031.
Furthermore, continuously growing investments by various market players in research & development sector to improve the quality of products and provide best services to maintain their market position and this is also expected to fuel the market growth in the near future. For instance, Tokuyama Corporation has upgraded their two creation bases of the Tokuyama Factory and Tokuyama Chemicals Co. Ltd. in China as a type of component of raged silica business. It has decided to move a piece of Tokuyama Factory’s yearly creation limit of 2,000 tons to Tokuyama Chemicals.
US Sodium Silicate Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global sodium silicate market is segmented on the basis of application, end-user, type, form, grade, and region. By application, the market is segmented into detergent, paint, adhesive, catalyst, and others. By end-user, the market is categorized into construction, automotive, pulp & paper, and others. By type, the market is bifurcated into solid and liquid. By form, the market is segmented into crystalline and anhydrous. By grade, the market is segmented into neutral and alkaline. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Sodium Silicate Market Analysis by Application
By application, the detergent segment accounted for the largest market share at a significant CAGR in 2021. The superior characteristics of product has created high demand as a detergent builder such as emulsification, wetting, and deflocculation properties, and expected to drive the segment growth over the forecast period. Also, in synthetic detergents, sodium silicate helps reduce the effect of corrosion caused by several types of materials, which has led to the rising demand for sodium silicate. Furthermore, growing demand for sodium silicate as catalyst in several bio and chemical processes is further expected to fuel the growth for the market in the coming years.
Sodium Silicate Market Analysis by Type
By type, the solid segment dominated the market with a significant CAGR in 2021 due to their wide acceptance is numerous applications such as ceramics, firestop devices, and also in manufacturing refractories. In addition, low transportation cost and easy storage as compared to liquid sodium silicate are few other factors projected to drive the segment growth throughout the forecast period. Rising water purification and wastewater treatment processes across the globe to promote coagulation is also a major driving factor contributing to the increased demand of sodium silicate.
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Globally, North America dominated the sodium silicate market with a healthy market share in 2021 and it is expected to maintain its dominance throughout the forecast period. Increasing investments on research & development sector and rapid growth in the paper & pulp industry are the major factors driving the market growth in the region. In addition, presence if many large companies such as International Paper CMPC, Smurfit Kappa, and Grupo Durango is also anticipated to boost the regional growth during the forecast period.
Moreover, Asia Pacific expected to witness fastest CAGR during the forecast period owing to rapid industrialization, increasing adoption of sodium silicate in various industries, and growing consumer disposable income in the region. Additionally, China is one of the largest consumers, with a consumption of around 581 billion cubic meters of drinking water additives for the consumption by humans. Therefore, the demand for sodium silicate is expected to have a huge demand in the region, as it has been extensively used in water treatment process.
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Sodium Silicate Market Drivers
Sodium Silicate Market Restraint
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The global sodium silicate market is highly fragmented with the presence of several small and large size market players operating all over the world. Major players are focusing on product launches, merger & acquisition, collaborations, and partnerships as key strategies for the expansion for their product portfolio and reach to large consumer base.
Sodium Silicate Market Top Player’s Company Profiles
Sodium Silicate Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global sodium silicate market is witnessing a significant growth during the forecast period due to the rising innovations, increasing investment in development sector, high rate of adoption in developing countries, and wide acceptance in various applications. Furthermore, technological advancements in manufacturing processes coupled with the rising demand from other industries like paper & pulp industry and construction industry is also expected to fuel the market growth in the near future. However, easy availability for alternatives and health issues associated with sodium silicate can be the restraining factor for the global market over the forecast period.
Report Metric | Details |
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Market size value in 2023 | USD 6.25 billion |
Market size value in 2031 | USD 8.9 billion |
Growth Rate | 3.6% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Sodium Silicate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sodium Silicate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sodium Silicate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sodium Silicate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Sodium Silicate Market size was valued at USD 6.25 billion in 2019 and is poised to grow from USD 6.48 billion in 2023 to USD 8.9 billion by 2031, growing at a CAGR of 3.6% in the forecast period (2024-2031).
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Report ID: SQMIG15A2322
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