Sodium Silicate Market Share Analysis Top Players and Market Dynamics
Sodium Silicate Market Share
Expansion in the construction industry for applications in soil stabilization and concrete hardening.
WILMINGTON, DELAWARE, UNITED STATES, June 25, 2024 /EINPresswire.com/ -- The global sodium silicate market, valued at $7.2 billion in 2019, is projected to reach $9.2 billion by 2027, growing at a CAGR of 3.7% from 2020 to 2027, according to Allied Market Research. The report provides insights into various market segments, industry dynamics, and regional trends.
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Key Market Drivers, Restraints, and Opportunities:
Drivers:
- Increased use in manufacturing detergents, soaps, rubbers, and tires.
- Rising demand from the pulp & paper industry.
Restraints:
- Hazardous nature of sodium silicate.
- Availability of substitutes.
Opportunities:
- Expansion in the construction industry for applications in soil stabilization and concrete hardening.
Market Segmentation:
By Form:
- Crystalline: Dominates the market, with a two-thirds share in 2019, and projected to grow at a CAGR of 3.9%. It is widely used in fireproofing mixtures and cleaning agents.
- Anhydrous: Detailed analysis provided in the report.
By End Use:
- Construction: Held the largest share in 2019 (nearly one-third), with applications in soil stabilization and cement refractories.
- Pulp & Paper: Expected to exhibit the highest CAGR of 4.3%, driven by demand for de-inking and brightening in fresh and recycled paper.
Regional Insights:
- North America: Forecasted to experience the fastest CAGR of 4.3%, due to increased activity in construction, detergent, and pulp & paper industries.
- Asia-Pacific: Contributed over 40% of the market share in 2019 and is expected to maintain dominance by 2027, supported by a high concentration of manufacturing companies and market expansions.
Leading Market Players:
- Tokuyama Corporation
- Evonik Industries AG
- Merck Millipore Limited
- Nippon Chemical Industrial Co. Ltd.
- PQ Group Holdings Inc.
- Occidental Petroleum Corporation
- CIECH S.A.
- Sinchem Silica Gel Co. Ltd.
- Shijiazhuang Shuanglian Chemical Industry Co. Ltd.
- Kiran Global Chem Limited
Conclusion:
The sodium silicate market is poised for steady growth, driven by expanding applications in various industries despite challenges posed by hazardous properties and alternative materials. Regional differences and the recovery from the COVID-19 pandemic will influence the market's trajectory, with significant growth opportunities particularly in construction and pulp & paper sectors.
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David Correa
Allied Market Research
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