The latest market report published by Credence Research, Inc. “Sodium Silicate Market,
By Application Type and Geography - Growth, Future Prospects and
Competitive Analysis, 2017 - 2025,” the global sodium silicate market
was valued at US$ 6.00 Bn in 2016, and is expected to each US$ 7.54 Bn
by 2025, expanding at a CAGR of 2.8% from 2017 to 2025. It terms of
volume the market is projected to reach over 30.00 million tons by 2025,
expanding at a CAGR of 1.6% from 2017 to 2025
Browse the full Sodium Silicate Market - Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/sodium-silicate-market
Market Insights
Rising demand for sodium silicate from
various end use industries is the major factor driving the market
growth. The product has high demand as cracking catalyst in
petrochemical industry. Furthermore, increasing investment in the oil
& refinery processing is projected to increase the demand for
cracking catalysts, which in turn is projected to increase the demand
for sodium silicate. It also finds wide application in rubber and tire
manufacturing. Thus, the quick growth of automotive industry is
projected to drive the demand for sodium silicate over the forecast
period of 2017 to 2025. Rising demand for cleaning agents and detergents
from emerging economies is projected to enhance demand for sodium
silicate over the forecast period.
However, due to presence of various
substitutes and fluctuating prices of raw materials is projected to be
the key challenges for market growth. Rising number of water treatment
projects along with the rising need for construction & building
materials is providing new avenues for growth of the sodium silicate
market in the near future. In addition, the market will also benefit
from the growing demand for waste paper recycling due to various
environmental concerns.
Competitive Insights
The market is highly competitive owing
to the presence of numerous manufacturers with high production volumes.
Strong market presence of existing players and demand supply gap owing
to high production volumes are the major challenges for new entrants. To
enhance their market foothold companies are investing more in R&D
to improve the quality of product and to reduce product cost. Merger and
acquisition, innovation in the manufacturing process and usage of
bio-based raw materials are some of the other strategies adopted by the
market players.
Key Trends
- Rising demand from various end use
industries such as petrochemical, automotive, paper & pulp, water
treatment, and detergents among others
- Manufacturers are investing in numerous business strategies to ensure steady supply of material at desired prices
- Emerging economies offer huge market potential
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