Global Sodium Silicate Market is Expected to Reach US$ 6,933.6 Mn in 2023: Transparency Market Research
Transparency Market Research has published a new market report titled “Sodium Silicate Market for Detergents, Catalysts, Pulp & Paper, Elastomers, Food & Healthcare and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023.” The global sodium silicate market was valued at US$ 5,561.4 Mn in 2014 and is expected to reach US$ 6,933.6 Mn in 2023, expanding at a CAGR of 2.5% between 2015 and 2023.
In terms of volume, Asia Pacific is projected to be the fastest-growing region in the sodium silicate market between 2015 and 2023. Asia Pacific held over 45% share of the global sodium silicate market in 2014. China accounted for major share of demand for sodium silicate in the region in 2014 due to increasing demand from end-user industries such as household detergents and elastomers. Additionally, India is an agrarian economy; hence, there is strong demand for sodium silicate in applications such as agrochemicals coupled with household detergents, coatings, and textile. There is decent demand for sodium silicate from emerging economies of India, Thailand, and South Korea. A similar trend is anticipated to continue during the forecast period.
North America is projected to witness sluggish growth in the sodium silicate market during the forecast period. The U.S. is the major consumer of sodium silicate in North America. The detergents industry is a major end-user of sodium silicate. However, it has faced several challenges in the past due to stringent regulations; thus, detergents has limited scope for growth in Europe. Manufacturers in this region have eliminated part of their zeolite production due to sluggish growth and increasingly competitive nature of business. Key producers of sodium silicate are expanding their operations in the international markets and reducing their focus on the market in Europe. Downturn in economic activity in Europe in the last few years has resulted in less-than-anticipated growth of the sodium silicate market.
Brazil could be a promising market for sodium silicate in the next few years on account of growing end-user industries in Latin America. Several investments are anticipated in the personal care industry in the near future. Rapid expansion of the biofuel industry is anticipated to drive the sodium silicate market in Latin America in the near future. Additionally, Argentina, Bolivia, and Venezuela are likely to exhibit significant growth in the sodium silicate market during the forecast period. Egypt, Saudi Arabia, and South Africa are major consumers of sodium silicate. Improving economic conditions in the MEA is likely to fuel the sodium silicate market in the Middle East & Africa. Detergents is expected to be the fastest-growing segment in the region due to rising demand for liquid detergents in Saudi Arabia and the UAE. Increase in population and rise in disposable income of consumers are some of the factors driving the detergents market in the Middle East and Africa.
Detergents was the largest application segment, accounting for 36.6% of the global sodium silicate market in 2014. Elastomers are estimated to be the fastest-growing segment during the forecast period due to growing automotive industry. Furthermore, catalysts and other applications are likely to witness above-average growth during the forecast period.
Key players in the sodium silicate market include PQ Corporation, PPG Industries, Evonik Industries AG, BASF SE, Tokuyama Europe GmbH, and W.R. Grace & Company. The report segments the sodium silicate market as follows:
Sodium Silicate Market – Application Analysis
Pulp & Paper
Food & Healthcare
Others (Including Coating, Agriculture, etc.)
Sodium Silicate Market – Country Analysis
Rest of North America
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa (MEA)
Rest of MEA
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.