Sodium Silicate Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Sodium Silicate Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The sodium silicate market is projected to register a CAGR of more than 5% during the forecast period 2022-2027.

The sodium silicate market was hampered by the COVID-19 pandemic, especially the pulp and paper sector, which was severely affected. On the other hand, the demand for detergent manufacturers increased in 2021 due to the growing demand for hygiene products such as detergents, soaps, sanitizers, and tissue paper. As a result, the market is expected to recover at a fast rate.

· Over the medium term, the increasing demand for waste paper recycling is expected to drive market growth.

· Stringent government regulations and increased health risks due to the hazardous effects of sodium silicate are expected to hinder the growth of the sodium silicate market.

· Asia-Pacific dominated the market and is expected to continue its dominance during the forecast period.

· Sodium silicate is a colorless compound of silica and oxides of sodium. It is used in soaps, detergents, and the making of silica gel. The role of sodium silicate in the composition of detergents is to control the corrosion, alkalization, emulsion of fats and organic oils, and reduce the calcium and magnesium hardness.

· Many detergent operations are performed using sodium silicates, such as metal cleaning, textile processing, laundering, and de-inking paper, to wash dishes, dairy equipment, bottles, floors, and locomotives.

· Liquid laundry detergent is primarily used in cleaning laundry and has two main end-user segments, namely, residential and commercial. The demand for liquid laundry detergent is growing, owing to the comfort and ease of application and lesser wastage compared to detergent powders.

· North America is currently the region leading the global demand and consumption of liquid laundry detergent. The US is among the developed markets for household and industrial detergents, and hence, it concentrates on exports. The Middle-East is also an emerging market, with increasing industrial growth and a rise in demand. Thus, robust growth in the liquid detergent market is expected to increase the demand for sodium silicate.

· Such aforementioned applications are, in turn, expected to boost the demand for sodium silicate during the forecast period 2022-2027.

· Asia-Pacific is a major industrialized region that houses multiple heavy, medium, and small-scale industries. The Asia-Pacific sodium silicate market is expected to experience growth on account of high product demand in China, India, etc.

· Moreover, China is one of the biggest water consumers worldwide, with a consumption volume of 581 billion cubic meters of drinking water additive for human consumption. This is a potential driver for the sodium silicate market, as sodium silicate has been extensively used in water treatment since its approval as a drinking water additive for human consumption.

· According to the National Bureau of Statistics, paper and paper product manufacturers in China generated a revenue of more than USD 201 billion in 2021 with a gross profit of USD 13 billion, which amounted to a 21.2% year-on-year growth.

· Japan is the third-largest paper and paperboard producer after China and US. According to Japan Paper Association, paper and paperboard production in 2020 amounted to 22,876 thousand ton in the country. Thus, increased paper and paperboard production capacities in Japan are likely to boost the market for sodium silicate.

· Such growth in various industries is expected to drive the market for sodium silicate in the Asia-Pacific region during the forecast period 2022-2027.

The sodium silicate market is partially consolidated among top players. The major players in the market include CIECH Group, Kiran Global Chem Limited, PQ Corporation, BASF SE, and Occidental Petroleum Corporation, among others.

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