Global sodium silicate market outlook is strengthening on account of its usage across a broad spectrum of applications ranging from food to healthcare industries. In terms of revenue, global sodium silicate market size is anticipated to surpass USD 11 bn by 2024. Elevation in the level of awareness regarding sanitation is further fueling the product demand owing to its wide adoption as a vital composition in cleaning agents. Additionally, upsurge in demand for sodium silicate derivatives such as silica sols and silica gel in applications comprising plastics, ink, paints & coatings are fueling sodium silicate market trends.
Liquid-based sodium silicate market demand is anticipated to inflate in the coming years due to its augmenting use in the paper & pulp and adhesives sectors. It is used in fiber drum binders, paperboard laminates, toilet tissues, and paper towel cores due to its environment friendliness and zero toxicity levels.
Accelerated pace of oil & gas exploration activities, especially in the US has resulted in increased demand for sodium silicate to cater to the increasing fuel requirement. Rising demand for sodium silicate derivatives such as silica and zeolites as catalysts in various bio-based and chemical processes is also likely to augment the market outlook in the coming years. Additionally, the key players in the market are progressively replacing hazardous raw materials with novel substitutes such as rice husk, which is likely to open up new avenues for market expansion.
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Product differentiations, novel and advanced product launches, R&D investments, and collaborations are some of the key strategies incorporated by the industry players to gain a competitive edge. For instance, a JV of Chevron Products Co and W.R. Grace & Co. invested an amount of USD 135 million to enhance the capacity of an existing manufacturing facility dealing with the production of alumina and sodium silicate.
Powder sodium silicate market is also gaining massive traction driven by its rising popularity across a slew of applications such as detergents, soaps, and cleaning agents. The powder form is also being largely used as an emulsifier, antirust agent, anti-oiling agent, and flame-retardant agent.
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Asia Pacific sodium silicate market share is largely driven by the rapid expansion of end use industries in the region. Intensified investments in construction and infrastructure development in the region is favoring the product demand. Moreover, rising awareness regarding hygiene in the developing countries is likely to contribute towards regional growth. Against the backdrop of increasing spending capabilities, the demand for FMCG products is rising in the region in turn creating a conducive environment for the sodium silicate market growth.
A slew of other such investments by the industry players to enhance the product portfolio is slated to strongly characterize the competitive landscape of sodium silicate market. Some of the key industry participants include PPG Industries, Evonik Industries, BASF, Huber, PQ Corporation, Nippon Chemical, W.R Grace, Oriental Silicas Corporation, Malpro Silica Private Limited, etc.
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