Increasing detergent and soap demand has been a major factor driving global sodium silicate market over the past few years and the trend is expected to continue over the forecast period. Increasing sodium silicate application in textile industry is anticipated to further fuel the market growth over the next six years. Increasing penetration in paints & coatings and wood processing industries is anticipated to have a positive impact on sodium silicate market growth. Extensive use of adhesives and sanitary ware in building & construction industry is expected to complement the global market growth over the forecast period. Growth of niche application segments such as water treatment is also estimated to have a positive impact on the global market over the next six years. Increasing chemical applications in enhanced oil recovery is expected to further drive market demand in foreseeable future.
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Asia Pacific is a major sodium silicate consumer and is estimated to remain the dominant market over the next six years. Rapid industrialization coupled with increasing infrastructure spending especially in emerging markets of India and China along with the markets in Taiwan, Indonesia, Malaysia and Vietnam is expected to fuel market growth. North America sodium silicate market is expected to experience a considerable growth over next six years on account of increasing penetration in EOR industry in this region.
Existing market leaders are investing heavily in R&D and product development to have an edge over the new entrants. Major industry participants are increasing sodium silicate prices to offset the eroding profit margins due to tight raw material supply-demand regime.
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Key participants operating in the global sodium silicate market include Albemarle, Nippon Chemical, Huber, Occidental Petroleum Corporation, PPG Industries, Tokuyama and PQ Corporation. Other players in the market comprise of Shandong Sinchem Group, Shangyu Huabao, Shangyu Huachang, Shanghai Yueda, Shijiazhuang Shuanglian, W. R. Grace and Co.
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