Sodium Silicate Market: Ready To Fly on high Growth Trends: BASF SE, CIECH Group, PPG Industries
The sodium silicate market encompasses the global trade and distribution of sodium silicate, a compound widely used in various industries due to its versatile chemical properties. Sodium silicate, also known as water glass or liquid glass, is a combination of sodium oxide (Na2O) and silica (SiO2). It is available in both solid and liquid forms and is utilized across multiple applications, such as detergents, construction, paper production, water treatment, and more
Some of the key players profiled in the study are BASF SE (Germany), CIECH Group (Poland), Evonik Industries AG (Germany), hijiazhuang Shuanglian Chemical Industry Co. Ltd (China), Nippon Chemical Industrial Co., Ltd. (Japan), PPG Industries, Inc. (United States), PQ Corporation (United States), Shangyu Huachang Industrial Co., Ltd. (China), Sinchem Silica Gel Co, Ltd. (China), Solvay S.A (Belgium), Tokuyama Corporation (Japan), W.R. Grace & Company (United States).
According to HTF Market Intelligence, the Global Sodium Silicate market to witness a CAGR of 3.6% during forecast period of 2024-2030. Global Sodium Silicate Market Breakdown by Application (Detergents, Pulp & paper, Food & healthcare, Catalysts, Elastomers, Others) by Form (Solid, Liquid) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The report includes historic market data from 2019 to 2023E. Currently, market value is pegged at USD 6.62 Billion.
Market Drivers:
- Increasing demand in the detergents and soap industry fuel the market growth
Market Opportunities:
- The increasing investment in research and development (R&D) to explore new applications for market growth
Market Challenges:
- Fluctuation in raw material prices, mainly sodium carbonate and silica sand, which straight impacts the production cost and pricing of sodium silicate
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