The global Sodium Silicate Market is expected to reach USD 7.60 billion by 2024, growing at 3% CAGR, according to a new report by Grand View Research, Inc. Liquid sodium silicates have high potential to perform in critical applications such as de-lignification, waste paper de-inking and pulp brightening. Increasing demand for the product as a concrete sealer is expected to drive industry growth. International trade of liquid products is limited by the cost of transportation rather than production costs. As a result, the majority of the liquid sodium silicate manufacturers captively consume the product for the manufacturing of silica derivatives such as zeolites and precipitated silica.
The pricing strategy of sodium silicate is driven by the quality, and grade of the product. As a result, industry players are likely to invest more in R&D to reduce product cost and enhance product quality to gain the market share. Furthermore, the industry players are adopting expansion and integration strategies to establish themselves in the global market. Innovation in the manufacturing process to use bio-based raw material and reduce overall energy consumption is expected to be a key factor for manufacturers.
Fluctuating raw material prices and strong foothold of existing players in the industry is expected to be a key challenge for new entrants. However, the scope for development in niche application areas such as welding, cement, agriculture, and the food is likely to open new avenues for the industry growth.
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Further key findings from the report suggest:
- Pulp & paper accounted for over 10% of the total demand and is expected to grow at a CAGR of 2% from 2016 to 2024. Sodium silicates are an important ingredient for hydrogen peroxide bleach liquors. It helps to maintain pH of peroxide solution at desired level, thus improving the overall efficiency of the solution. Growing demand for the product in pulp beaching industry for deactivating various metals including manganese, iron and copper are expected to have a positive impact on the industry growth over the forecast period.
- The sodium silicate demand in Asia Pacific was valued over USD 2.20 billion in 2015 and is expected to grow at a CAGR of 4% from 2016 to 2024. The demand in the region is dominated by the detergent application. Growing population, and increasing consumer health and hygiene trends has resulted in the growth of soap and detergent industry in the region, which is expected to have a positive impact on the market growth over the forecast period.
