Readily available raw materials such as silica sand, soda ash, and rice husk further propel manufacturing of sodium silicate. Supply and demand for the product exhibit cohesive growth trajectory during the forecast period (2019-2029).
The sodium silicate market has been estimated to expand at a moderate pace throughout the forecast period between 2019 and 2029, with a 3% CAGR. Nationwide lockdown restrictions set up by governments, and the resultant suspension of industrial activities in many countries is reducing short term demand for sodium silicate. Disruptions in supply chains and production facilities are also likely to influence the market in the near term.
“Sodium silicate finds critical roles in a wide range of industries ranging from healthcare, food, paper and pulp, detergents, and elastomers among others. Such roles of its derivatives are expected to uplift prospects through the forecasting period,” says the FMI analyst.
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Sodium Silicate Market - Important Takeaways
Sodium Silicate Market - Driving Factors
Sodium Silicate Market - Leading Constraints
Expected Impact on Market by Coronavirus Outbreak
The impact of the coronavirus pandemic on the sodium silicate market has largely been negative. Disruptions to supply chains for raw materials, restrictions on international trade, and substantial slumps in industrial activity of varied sectors have limited short term growth prospects. On the other hand, applications of derivatives in the food & beverage and pharmaceutical industries are generating niche growth opportunities to partially recoup losses during this period.
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Competition Landscape
Some of the top players operating in the sodium silicate market are IQE Group, American Elements, Evonik Industries AG, J.M. Huber Corp., Nippon Chemical Industrial, Malpro Silica Pvt. Ltd., BASF SE, PPG Industries, Tokuyama Corp., Qingdao Dongyue Sodium Silicate Co Ltd., and Shijiazhuang Shuanglian Chemical Industry.
Participants in the sodium silicate market are investing in the expansion of production capacities with strategic acquisitions or facility expansions largely aiming towards geographical penetration.
For instance, Advanced Refining Technologies has completed the expansion of its hydro-processing catalyst plant near Lake Charles, which will also include the production of sodium silicate. Evonik Industries AG has entered an agreement to acquire J.M. Huber Corp.’s silica business. Grand Maritime Port of Marseille has acquired the Quechen Silicon Chemical facility in Fos-sur-Mer, which aim to provide materials to the tire industry.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
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Dec 16, 2022