Revenue of Sodium Silicate Market to Hit US$10 Billion by 2024
SELLBYVILLE, Del., June 27, 2018 /PRNewswire-iReach/ --
According to a latest research report by Global Market Insights, Inc. " Sodium Silicate Market size is predicted to be valued USD 10 billion by 2024." Sodium silicate is chemical compound obtained from sodium oxide and silica. It is commonly known as liquid glass or water glass. Excellent properties of sodium silicate entail large number of applications in catalyst, detergents, chemicals, adhesive, food and pulp & paper. Anticaking characteristics of sodium silicate plays a vital role in food industry by preventing dry food products from clumping as well as it absorbs surplus moisture from food. Major application of sodium silicate in food application happens either in powdered or dried form which is further used in milk powder, flours products, sugar, grated cheese, egg yolk, among others.
Oil and gas is one of the fastest galloping market as a result of high usage of catalyst in petroleum refineries for extracting gasoline is instrumental in influencing the global sodium silicate market growth over the forecast period. By 2017, the U.S. government had extended oil rig platforms increasing it from 1593 to 2029, to gain higher revenue and exploit significant opportunities in the market. Global demand for fuel had increased the usage of sodium silicate by way of catalyst cracking to meet fuel and energy supplier demand that will significantly grow the market over forecast period.
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Basic household commodities like detergents which are gradually used for cleaning is accelerating the market owing to rising consumer awareness on hygiene and basic sanitation facilities. In order to maintain basic hygiene in household chores, consumers detergent consumption is considerably increasing, augmenting the overall application of sodium silicate in detergent products which is significant growing the potential market share.
Market growth is challenged by hazardous health concern on regular consumption of sodium silicate. Excessive consumption of sodium silicate lead to certain health ailment such as skin irritation, inhalation, lungs damage, etc. Limitation on sodium silicate consumption is negatively impacting the market growth. Moreover, ongoing research and development activities to innovate better substitute product may hinder market by forecast spell.
Consumption of sodium silicate in powder form will grow rapidly owing to rising application in various end-user products like food, construction and detergents. Liquid sodium silicate demand is growing in paper & pulp and adhesive industries, progressive demand for paper & pulp in manufacturing process of personal hygiene products is driving the market. Powder market segment was USD 350 million by 2016 and is likely to witness growth with growing application in several industries like elastomers, food, healthcare, detergents etc.
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Pulp & paper is predominantly dominating the market. Detergent market is witnessing notable market growth, elastomers accounts for 10% of global sodium silicate market by the end of 2016. Growth is incorporated by continuous progression of automotive sector, generating greater demand for green tires. Elastomer are significantly used in green tires as reinforced filler to resists rolling.
Asia Pacific market is growing by CAGR of around 2% over the forecast timeframe. China detergent market segment accounts over 65% of Asian market share. Increasing automotive production, oil drilling and construction activities will significantly impact sodium silicate demand in projected timeframe. In Europe, paper & pulp as well as healthcare industry is dominating sodium silicate market.
Global market companies are Nippon Chemical, Oriental Silicas, PPG Industries, Evonik Industries, BASF, Huber, W.R Grace, PQ Corporation, etc. Few of these leading players in marketplace are substantially investing on research and development activities for enhancing overall product portfolio as well strengthen market positions.
Buy this industry insights spread across 320 pages with 382 market data tables & 25 figures & charts from the report, "Sodium Silicate Market Size By Form (Liquid, Powder), By Application (Detergent, Catalyst, Paper & Pulp, Elastomers, Food & Healthcare), Industry Analysis Report, Regional Outlook (U.S., Canada, France, UK, Spain, Germany, Italy, China, Japan, India, Australia, Indonesia, Malaysia, Brazil, Mexico, GCC, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:
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Chapter 3. Sodium Silicate Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Profit margin analysis
3.3.2. Value addition at each stage
3.3.3. Distributor channel analysis
3.3.4. Vendor matrix
3.3.4.1. List of key manufacturers
3.3.4.2. List of key/potential customers
3.4. Raw material analysis
3.5. Innovation & technology trends
3.5.1. Patent analysis
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. Rising product demand due to increasing awareness regarding hygiene
3.6.1.2. Increasing oil & drilling activities
3.6.2. Industry pitfalls & challenges
3.6.2.1. Health hazards
3.6.2.2. Fluctuating raw material prices
3.7. Regulatory landscape
3.7.1. U.S.
3.7.2. Europe
3.7.3. China
3.8. Growth potential analysis
3.9. Competitive landscape
3.9.1. Strategic dashboard
3.10. Porter's analysis
3.10.1. Supplier power
3.10.2. Buyer power
3.10.3. Threat of new entrants
3.10.4. Industry rivalry
3.11. Regional price trends
3.11.1. Cost structure analysis
3.11.1.1. R & D cost
3.11.1.2. Manufacturing & equipment cost
3.11.1.3. Raw material cost
3.11.1.4. Distribution cost
3.11.1.5. Operating cost
3.11.1.6. Miscellaneous cost
3.11.2. Price by application
3.11.3. Price by form
3.11.4. Price by region
3.12. PESTEL analysis
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/sodium-silicate-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Media Contact: Jignesh Thakkar, Global Market Insights, Inc., +13028467766, [email protected]
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