Liquid Sodium Silicate (LSS) Market | Compound annual growth…
sodium silicate market
Sodium silicate demand surges due to increased need for environmentally friendly raw materials
JUMEIRAH LAKES TOWERS, DUBAI, UNITED ARAB EMIRATES, Jan. 13, 2022 /EINPresswire.com/ — Sodium silicate manufacturers continue to focus on derivatives production and application diversification to expand potential revenue streams. Sodium Silicate Market To Be Moderately Affected By Automotive And Manufacturing Sector Lockdown Restrictions During Covid-19 Pandemic, According To Future Market Insights
The sodium silicate market is estimated to grow at a moderate rate throughout the forecast period between 2019 and 2029, growing at a CAGR of 3%. Nationwide lockdown restrictions put in place by governments and the resulting suspension of industrial activities in many countries are reducing near-term demand for sodium silicate. Disruptions to supply chains and production facilities are also likely to influence the market in the short term.
“Sodium silicate plays a vital role in a wide range of industries ranging from healthcare, food, paper and pulp, detergents and elastomers, among others. Such roles of its derivatives should improve the outlook throughout the forecast period,” the IMF analyst said.
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Sodium Silicate Market – Important Points to Remember
Silicone rubber production applications are expected to see high demand in the elastomer industry due to significant physical improvements with the addition of precipitated silica.
The use of sodium silicate as a deflocculating ingredient for detergents continues to gain traction due to cost and efficiency advantages.
Europe is a key market for sodium silicate, driven primarily by healthcare uses and pulp and paper applications.
Sodium Silicate Market – Driving Factors
The increasing application of sodium silicate in oil exploration and drilling activities is contributing to the growth of the market.
Hygiene and health care awareness is bolstering the overall application and adoption rates of sodium silicate.
Sodium Silicate Market – Key Constraints
The volatility of raw material prices is a major issue for players in the sodium silicate market.
The potential health risks of sodium silicate and associated regulations are limiting the market growth.
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Expected impact on the market by the coronavirus epidemic
The impact of the coronavirus pandemic on the sodium silicate market has been largely negative. Disruptions to commodity supply chains, restrictions on international trade and sharp declines in industrial activity across various sectors have limited near-term growth prospects. On the other hand, the applications of derivatives in the agro-food and pharmaceutical industries generate niche growth opportunities to partially recover the losses during this period.
Some of the major players operating in the sodium silicate market are IQE Group, American Elements, Evonik Industries AG, JM Huber Corp., Nippon Chemical Industrial, Malpro Silica Pvt. Ltd., BASF SE, PPG Industries, Tokuyama Corp., Qingdao Dongyue Sodium Silicate Co Ltd. and Shijiazhuang Shuanglian Chemical Industry.
Players in the sodium silicate market are investing in expanding production capacities with strategic acquisitions or plant expansions primarily aimed at geographic penetration.
For example, Advanced Refining Technologies has completed an expansion of its hydrotreating catalyst plant near Lake Charles, which will also include sodium silicate production. Evonik Industries AG has reached an agreement to acquire the silica business of JM Huber Corp. The Grand Port Maritime de Marseille has acquired the Quechen Silicon Chemical plant in Fos-sur-Mer, whose objective is to supply materials to the tire industry.
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FMI provides in-depth insights into the sodium silicate market. The market is segmented in terms of application (silica manufacturing, detergent, catalyst, pulp & paper, elastomer, food & healthcare, and others) into five regions (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa).
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Liquid Sodium Silicate (LSS) Market | The compound annual growth rate (CAGR) is 3% | Forecast Period 2019-2029 News Provided by IMF January 13, 2022, 18:20 GMT Share this article Distribution Channels: Building & Construction Industry, Chemical Industry, Corporates
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