SAN FRANCISCO, November 9, 2016 /PRNewswire/ --
The global sodium silicate market is expected to reach USD 7.60 billion by 2024, growing at 3% CAGR, according to a new report by Grand View Research, Inc. Liquid sodium silicates have high potential to perform in critical applications such as de-lignification, waste paper de-inking and pulp brightening. Increasing demand for the product as a concrete sealer is expected to drive industry growth. International trade of liquid products is limited by the cost of transportation rather than production costs. As a result, the majority of the liquid sodium silicate manufacturers captively consume the product for the manufacturing of silica derivatives such as zeolites and precipitated silica.
The pricing strategy of sodium silicate is driven by the quality, and grade of the product. As a result, industry players are likely to invest more in R&D to reduce product cost and enhance product quality to gain the market share. Furthermore, the industry players are adopting expansion and integration strategies to establish themselves in the global market. Innovation in the manufacturing process to use bio-based raw material and reduce overall energy consumption is expected to be a key factor for manufacturers.
Fluctuating raw material prices and strong foothold of existing players in the industry is expected to be a key challenge for new entrants. However, the scope for development in niche application areas such as welding, cement, agriculture, and the food is likely to open new avenues for the industry growth.
Browse full research report with TOC on "Sodium Silicate Market Analysis By Application (Detergents, Catalysts, Pulp & Paper, Elastomers, Food & Healthcare) And Segment Forecasts, 2013 - 2024" at: http://www.grandviewresearch.com/industry-analysis/sodium-silicate-market
Further key findings from the report suggest:
- Pulp & paper accounted for over 10% of the total demand and is expected to grow at a CAGR of 2% from 2016 to 2024. Sodium silicates are an important ingredient for hydrogen peroxide bleach liquors. It helps to maintain pH of peroxide solution at desired level, thus improving the overall efficiency of the solution. Growing demand for the product in pulp beaching industry for deactivating various metals including manganese, iron and copper are expected to have a positive impact on the industry growth over the forecast period.
- The sodium silicate demand in Asia Pacific was valued over USD 2.20 billion in 2015 and is expected to grow at a CAGR of 4% from 2016 to 2024. The demand in the region is dominated by the detergent application. Growing population, and increasing consumer health and hygiene trends has resulted in the growth of soap and detergent industry in the region, which is expected to have a positive impact on the market growth over the forecast period.
- The industry, particularly North America and Europe in is highly competitive owing to the over production capacities than adequate demand. PQ Corporation is the major manufacturer for sodium silicate and holds the highest share in the global market.
- Asia Pacific, especially China dominates the industry in terms of production. However, the production capacities are split among many small scale companies. The presence of numerous manufacturers with high production capacities and wide distribution channel is expected to pose a barrier for small-scale and emerging industry players.
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Grand View Research has segmented the sodium silicate market on the basis of application and region:
- Sodium Silicate Market Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
- Pulp & paper
- Food & healthcare
- Sodium Silicate Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- North America
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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