The global sodium silicate market accounted for US$ XX Mn in 2018 and burgeoning over the forthcoming years. Key factors for the market growth include growth in the construction industry, rising health awareness among the consumers coupled with increasing per capita income, growing demand for detergents globally, increasing automotive production, oil drilling and huge investments in R&D to enhance product quality, increasing demand in numerous application industries, including detergent, rubber, food and beverage, and paper and pulp. However, factors such as high storage cost of liquid sodium silicate and hazardous effects of sodium silicate are hindering the market growth.
Global sodium silicate market segmented on the basis of form, application and region.
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Liquid Sodium Silicate Dominate the Global Sodium Silicate Market
Based on form, global sodium silicate market segmented into liquid sodium silicate and solid sodium silicate. Liquid Sodium Silicate held considerable market growth during estimated period. The Liquid Sodium Silicate is a non-hazardous chemical which is used in numerous applications globally. It has some key special properties which are not shared by other alkaline salts. Such esteemed properties along with their low-cost results in their usage in several applications in varied industries. The unique properties and functional characteristics of liquid sodium silicate can be used to resolve several problems rising in chemical and industrial processes efficiently and economically. The liquid sodium silicate is used in various industries as detergents, adhesives, binders, cement, ingredients in cleaning compounds, different coatings, anticorrosives, deflocculants, catalyst bases, chemicals, etc.
Asia Pacific Leads the Global Sodium Silicate market
PBI’s global sodium silicate market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. Asia Pacific accounted for larger revenue share in global sodium silicate market with considerable CAGR. The growth in this region is due to improving living standards, increasing purchasing power of the consumers and rising building and construction activities in the developing economies. Also, China is the major contributor for the market growth in this region. In addition, Europe held considerable market share during predicted period owing to increasing investment in water treatment plants. The production capacity for glass grade sodium silicate in the region is over 1,400 kilo per annum.
Strategic Partnership are the key strategies adopted by market players
Global sodium silicate market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, In May 2015, W.R. Grace & Co. and Chevron Products Company have a joint venture known as Advanced Refining Technologies (ART). The companies announced that they will be investing USD 135 million in their JV in order to increase their production capacity.
Key player’s profiles in the report are Aromachimie Ltd. (UK), BASF SE (Germany), Ciech S.A. (Poland), Evonik Industries (Germany), Nippon Chemical Industrial CO.LTD. (Japan), Occidental Petroleum Corporation (U.S.), Oriental Silicas Corporation (Taiwan), PPG IndustriesInc. (U.S.), PQ Corporation (U.S.), Silmaco NV (Belgium), Solvay (Belgium) and W.R. Grace & Company (U.S.).
Precision Business Insights (PBI) in its report titled “Global Sodium Silicate Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
o Liquid Sodium Silicate
o Solid Sodium Silicate
o Food Preservation
o Metal Casting
o Precipitated Silica
o Pulp & Paper
o Water Treatment
o North America
• Rest of Europe
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• South Africa
• Rest of MEA
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