Global sodium silicate market will grow gradually at 3% CAGR between 2019 and 2029. Sodium Silicate products will witness an uptake in sales on the back of eco-friendly properties of the compound. Market players are innovating end-use applications that cater to the need for viable alternatives of conventional adhesives, binders, and cleaning agents.
Sodium silicate manufacturers can earn profitable revenues by leveraging opportunities presented by prevalence of environment efficient rubber tires, wastewater treatment, and soil stabilization. Market players are developing products for untapped industries such as welding, agriculture, and food.
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Key Takeaway of Sodium Silicate Market Study
- Sodium Silicate market is valued at US$ 5.6 Bn in 2018 growing at a lackluster CAGR during the forecast period.
- Asia Pacific (APAC) holds a major market share with more than 53% of the total market value. India, a developing economy in APAC is expected to grow at a promising 5% CAGR from 2019 to 2029.
- Amid resurgent infrastructure industry and growing demand for green-alternatives, demand from the US will grow at an astounding 12% CAGR through the end of 2029.
Developing economies such as India, Indonesia, and South Korea are investing in infrastructure development. Sodium silicate is an ideal binder for sustainable construction practices. Market players must leverage this opportunity and procure profitable revenues for the forecast period.
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Infrastructure Impels Future Demand Growth
Major manufacturers of sodium silicate are involved in research and development of products, mergers, acquisitions, and expansion of global footprint via strategic stakeholder partnerships. APAC reigns supreme with share-wide dominance, attributable to surge in demand for end-use industry products that employ sodium silicate such as rubber tires, water treatment, and construction. North America offers lucrative growth opportunities where the US exhibits a double digit 12% CAGR during the forecast period.
Recovering infrastructure in the US propels regional growth during the forecast period. European countries such as Germany is driven by increasing demand for compound in pulp & paper, healthcare, and elastomer filler for rubber tires. Emerging economies in Latin America and MEA are following the footsteps of early adopters with infrastructure development and proactive environmental consciousness.
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More About the Report
FMI’s study offers an in-depth market forecast and analysis on the global sodium silicate market. Major categories encompassed by the report include application type (detergents, catalyst, pulp & paper, elastomers, food & healthcare, & others), across five regions (Asia Pacific, Europe, Middle East & Africa, Latin America and North America).
For more information on how the market growth will unfold over the following years, write to press@futuremarketinsights.com