Sodium silicate manufacturers are continuing to focus towards production of derivatives and the diversification of applications to widen potential revenue streams.
DUBAI, UAE / ACCESSWIRE / August 27, 2020 / The sodium silicate market has been estimated to expand at a moderate pace throughout the forecast period between 2019 and 2029, with a 3% CAGR. Nationwide lockdown restrictions set up by governments, and the resultant suspension of industrial activities in many countries is reducing short term demand for sodium silicate. Disruptions in supply chains and production facilities are also likely to influence the market in the near term.
"Sodium silicate finds critical roles in a wide range of industries ranging from healthcare, food, paper and pulp, detergents, and elastomers among others. Such roles of its derivatives are expected to uplift prospects through the forecasting period," says the FMI analyst.
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Sodium Silicate Market - Important Takeaways
- Silicone rubber production applications are expected to gain strong demand in the elastomers sector owing to significant physical improvements with precipitated silica addition.
- The use of sodium silicate as a deflocculant ingredient for detergents continues to gain traction owing to cost and efficacy benefits.
- Europe is a key market for sodium silicate, essentially driven by uses in the healthcare, and paper & pulp applications.
Sodium Silicate Market - Driving Factors
- Increasing application of sodium silicate in oil exploration and drilling activities contribute to market growth.
- Hygiene and healthcare awareness bolsters overall sodium silicate application and adoption rates.
Sodium Silicate Market - Leading Constraints
- Volatility in the prices of raw materials is a major challenge for sodium silicate market players.
- Potential for health hazards from sodium silicate and associated regulations restrict market growth.
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Expected Impact on Market by Coronavirus Outbreak
The impact of the coronavirus pandemic on the sodium silicate market has largely been negative. Disruptions to supply chains for raw materials, restrictions on international trade, and substantial slumps in industrial activity of varied sectors have limited short term growth prospects. On the other hand, applications of derivatives in the food & beverage and pharmaceutical industries are generating niche growth opportunities to partially recoup losses during this period.
Competition Landscape
Some of the top players operating in the sodium silicate market are IQE Group, American Elements, Evonik Industries AG, J.M. 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.
Participants in the sodium silicate market are investing in the expansion of production capacities with strategic acquisitions or facility expansions largely aiming towards geographical penetration.
For instance, Advanced Refining Technologies has completed the expansion of its hydro-processing catalyst plant near Lake Charles, which will also include the production of sodium silicate. Evonik Industries AG has entered an agreement to acquire J.M. Huber Corp.'s silica business. Grand Maritime Port of Marseille has acquired the Quechen Silicon Chemical facility in Fos-sur-Mer, which aim to provide materials to the tire industry.
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More on the Report
FMI provides in-depth insights on the sodium silicate market. The market is segmented in terms of application (silica manufacturing, detergent, catalyst, pulp & paper, elastomer, food & healthcare, and others) across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East and Africa).
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SOURCE: Future Market Insights