Market Research Report
Global Sodium Silicate Market Forecast 2021-2028
|Global Sodium Silicate Market Forecast 2021-2028|
Published: September 27, 2021
Content info: 235 Pages
Delivery time: 2-3 business days
The global sodium silicate market is estimated to record a CAGR of 3.52% in terms of revenue and 2.89% in terms of volume over the forecasted period of 2021 to 2028. The market growth is mainly attributable to increased awareness associated with sanitation and hygiene, the growing requirement in waste paper recycling, and the need for precipitated silica from the tire as well as rubber industry.
Sodium silicate, also termed water glass or soluble glass, is a chemical compound comprising sodium oxide (Na2O) and silica (silicon dioxide, SiO2). It further forms a glassy solid while possessing the highly useful property of being soluble in water. Water glass is typically sold as powders and solid lumps or as a clear syrupy liquid.
Paper recycling is defined as the process of reprocessing waste paper for reuse. Waste papers can be either acquired from paper mill paper scraps, waste paper materials, and discarded paper materials. Examples of commonly recycled papers are old newspapers as well as magazines. In addition, other forms such as packaging, wrapping, and corrugated papers are typically checked for recycling suitability before the process. Sodium silicates are the chief auxiliary material in waste paper recycling. In their standard form, they assert a significant record of proven performance. Hence, with the augmenting demand from waste paper recycling, the demand for sodium silicate is set to increase, as well.
The global sodium silicate market growth evaluation entails the assessment of Europe, the Asia-Pacific, North America, and the Rest of World. North America is expected to be the leading market for sodium silicate in terms of revenue and volume. The market growth is attributed to factors such as the increasing product demand across applications like water treatment, agriculture, and mining, as well as the presence of leading players.
The market observes a reduced focus on innovation. However, key players enjoy a distinct advantage over other players, while the competition among companies in the pricing front remains moderate. Hence, the intensity of industrial rivalry is high across the global sodium silicate market.
The top firms operating in the market are: BASF SE, PPG Industries Inc, WR Grace & Co, etc.