North America is expected to witness the fastest CAGR of 4.3% during the forecast period.
OREGON, PORTLAND, UNITED STATES, August 24, 2022 /EINPresswire.com/ — Increase in demand for production of soaps, detergents, rubbers, and tires and rise in demand from the pulp & paper sector fuel the growth of the global sodium silicate market. Asia-Pacific held the largest market share in 2019, and will maintain its lead status by 2027. Production activities have been stopped as governments of many countries imposed the lockdown. In addition, raw materials shortage has been taken place.
Allied Market Research published a report, titled, “Sodium Silicate Market by Form (Crystalline and Anhydrous), Type (Liquid and Solid), Grade (Neutral and Alkaline), Application (Paints, Adhesives, Refractories Tube Winding, Detergent, Catalyst, and Others), and End Use (Pulp & Paper, Construction, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global sodium silicate industry garnered $7.2 billion in 2019, and is expected to generate $9.2 billion by 2027, witnessing a CAGR of 3.7% from 2020 to 2027.
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COVID-19 impact analysis:
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The sodium silicate market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the sodium silicate market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the sodium silicate market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
The crystalline segment accounted for the largest market share, contributing to nearly two-thirds of the total market in 2019, and is estimated to maintain its leadership status during the forecast period. Moreover, this segment is expected to grow at the fastest CAGR of 3.9% from 2020 to 2027. The report offers an extensive analysis of the anhydrous segment.
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Some ruling enterprises in the global sodium silicate market are examined in the report along with the citation of innovative product launches by them, their collaborative undertakings & endeavors, several merges & acquisitions, and many more. The frontrunners operating in the global sodium silicate industry include Albemarle Corporation, Umicore, Gan Feng Lithium Co., Ltd., Sumitomo Metal Mining Co., Ltd., Norlisk Nickel, Tianqi Lithium, Vale, China Molybdenum Co., Ltd., SQM S.A., and Glencore International AG.
The construction segment held the highest market share in 2019, accounting for nearly one-third of the global sodium silicate market, and is estimated to maintain its leadership status in terms of revenue throughout the forecast period. This is due to its usage in soil stabilization, concrete hardening, and cement refractories. However, the pulp & paper segment is expected to portray the highest CAGR of 4.3% from 2020 to 2027, owing to its increased use in fresh as well as recycled paper for de-inking and brightening pulps.
• Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
• Analysis at country and regional level, which portrays the share of the product or service in different regions.
• Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
• The forecasted market outlook of the sodium silicate market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
• The COVID-19 impact on the sodium silicate market
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