Portland, OR, Feb. 03, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global sodium silicate industry generated $7.2 billion in 2019, and is estimated to garner $9.2 billion by 2027, manifesting a CAGR of 3.7% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, major investment pockets, key winning strategies, value chain, key segments, and competitive scenario.
Increase in demand for production of soaps, detergents, rubbers, and tires and rise in demand from the pulp & paper sector fuel the growth of the global sodium silicate market. However, hazardous characteristics of sodium silicate and presence of substitutes in the market hinder the growth. Contrarily, surge in applications in the construction sector creates opportunities in the next few years.
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Covid-19 Scenario:
- Production activities have been stopped as governments of many countries imposed the lockdown. In addition, raw materials shortage has been taken place and the supply chain has hindered.
- Day-to-day operations in manufacturing of detergents, adhesives, paints, and catalysts have been halted, which in turn, lowered down the demand of sodium silicate.
- The demand is estimated to roll up and the supply-demand gap would be filled during the post-lockdown as daily activities for the end-use industries resume.
The report offers detailed segmentation of the global sodium silicate market based on form, type, grade, application, end use, and region.
By form, the crystalline segment accounted for the largest market share, contributing to nearly two-thirds of the total market in 2019, and is estimated to maintain its leadership status during the forecast period. Moreover, this segment is expected to grow at the fastest CAGR of 3.9% from 2020 to 2027. The report offers an extensive analysis of the anhydrous segment.
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By end use, the construction segment contributed to the highest share in 2019, holding nearly one-third of the global sodium silicate market, and is projected to maintain its dominance in terms of revenue during the forecast period. However, the pulp & paper segment is expected to manifest the largest CAGR of 4.3% from 2020 to 2027.
Based on region, North America is estimated to register the highest CAGR of 4.3% during the forecast period. However, Asia-Pacific held the largest market share in 2019, accounting for more than two-fifths of the total market share, and will maintain its lead status by 2027.
Major players of the global sodium silicate market analyzed in the research include Tokuyama Corporation, Merck Millipore Limited, Evonik Industries AG, PQ Group Holdings Inc., Nippon Chemical Industrial Co. Ltd., CIECH S.A., Occidental Petroleum Corporation, Shijiazhuang Shuanglian Chemical Industry Co. Ltd., Sinchem Silica Gel Co. Ltd., and Kiran Global Chem Limited.
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