Sodium Silicate Market Size Expected to Reach USD 9.3 Billion with CAGR of 3.8% by 2027 – IndustryARC
September 23, 2022
With the growth of the foods and beverages sector, the market for Sodium Silicate Market will further rise over the forecast period.HYDERABAD, TELANGANA, INDIA, September 23, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Sodium Silicate Market size is forecast to reach US$9.3 billion by 2027, after growing at a CAGR of 3.8% during the forecast period 2022-2027. Sodium silicates are crystalline solids, colorless glassy and white powders. They are readily soluble in water, producing alkaline solutions and are stable in neutral and alkaline solutions. The automotive sector is growing, which is driving the sodium silicate market growth, to be utilized for sealing head gaskets and radiators. Rapid urbanization, along with infrastructural developments in emerging economies is anticipated to drive the demand for sodium silicate and precipitated silica in cement, paints and coatings and other applications. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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This IndustryARC report on the Sodium Silicate Market highlights the following areas -
1. The Asia Pacific region dominates the Sodium Silicate Market owing to the rising growth in the foods & beverages industry. For instance, in February 2022, TH Group commenced the development of the Thai Binh food processing factory in the northern province of Thai Binh's Quynh Ph district in Vietnam. The overall cost of the project reached up to VND 620 billion (approx. US$27 million) and aims at producing fresh, clean and completely natural food products.
2. Rapidly rising demand for sodium silicate in the foods & beverages industry for the preservation of food has driven the growth of the sodium silicate market.
3. The increasing demand for sodium silicate in the automotive sector, due to its usage to seal small cracks in engine cooling systems, radiators and head gaskets, has been a critical factor driving the growth of the sodium silicate market in the upcoming years.
4. However, the health effects such as skin allergies, irritation of the respiratory tract and others, caused by sodium silicate can hinder the growth of the sodium silicate market.
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1. The paints & coatings segment held the largest Sodium Silicate Market share in 2021 and is estimated to grow at a CAGR of 3.7% during the forecast period 2022-2027. Sodium silicate paints & coatings have high durability and longevity and are non-flammable. The silicate present in sodium silicate and precipitated silica, are used in these paints & coatings and act as a mineral binding agent, bonding these paints & coatings strongly with the substrate material.
2. Asia-Pacific region dominated the Sodium Silicate Market share by 46% in the year 2021, due to the increasing requirement for sodium silicate in developing countries such as China, Japan, India and South Korea. China is expected to continue its dominance in the sodium silicate and sodium metasilicate market during the forecast period. This is due to the growth of the building & construction industry in the country.
3. The building & construction industry held the largest Sodium Silicate Market share in 2021 and is estimated to grow at a CAGR of 4.1% during the forecast period 2022-2027. In the building & construction industry, sodium silicate and precipitated silica are utilized in paints and coatings, to significantly reduce porosity in renders, concrete and plasters, which permanently bind the silicates with the surface of the composites, making them water repellent.
The top 5 players in the Sodium Silicate industry are -
1. Tokuyama Corporation
2. Evonik Industries AG
3. Merck Millipore Limited
4. Nippon Chemical Industrial Co. Ltd.
5. PQ Group Holdings Inc.
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