The latest market report published by Acute Market Reports “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 https://www.acutemarketreports.com/report/sodium-silicate-market
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.
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.
– 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
Key questions answered in this report
- What are the current market trends and dynamics in the sodium silicate market and valuable opportunities for emerging players?
- Estimated forecast and market projections up to 2029
- Which segment accounts for the fastest CAGR during the forecast period?
- Which is the largest regional market for sodium silicate?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- The worldwide market value of the sodium silicate market in 2019 and 2020
- Which are the key trends driving the global sodium silicate market growth?
- Who are the leading service providers in the sodium silicate market worldwide?
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