The global sodium silicate market size was valued at USD 6.25 billion in 2021 and USD 6.40 billion in 2022. The market is expected to reach USD 8.19 billion by 2029 with a CAGR of 3.6% during the forecast period. Increasing range of applications in day-to-day products such as detergents and water treatment chemicals is expected to propel the market course in a growing direction. The application of sodium silicates in wastewater treatment is expected to facilitate market development. Fortune Business Insights™ shares this information in its report titled “Sodium Silicate Market, 2022-2029.”
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Increasing demand for the derivatives owing to a vast array of applications is anticipated to drive the sodium silicate market growth. Derivative silicates are used for the production of silica, precipitated silica, catalysts, and zeolites. In addition, silica is used as a thickening agent, anti-caking agent, and as structure-enhancing agent in various applications. The growth of derivative silicates is associated with the rise in demand for silica and zeolites in electronic optics. It is a widely used in consumer and industrial products such as toothpaste and paints.
However, sodium silicates have displayed moderate toxicity to aquatic creatures and minor toxicity to terrestrial organisms, which is expected to impede market growth.
Regional Insights
The market in Asia Pacific is set to have the largest part in the sodium silicate market share due to increasing demand for various consumer products. Countries such as China and India are the fastest growing economies in the region which have high demand for detergents, and soap.
Europe is anticipated to have substantial growth due to rising demand for products from the detergent sector. The region is also set to witness a high demand for water treatment chemicals.
Information Source: https://www.fortunebusinessinsights.com/sodium-silicate-market-104600
