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Sodium Silicate Market Size
- Report ID: GMI2396
- Published Date: Jan 2018
- Report Format: PDF
Sodium Silicate Market Size
Sodium Silicate Market size estimated at USD 9 billion in 2016 and will exhibit growth of over 2% from 2017 to 2024.
Global sodium silicate market is anticipated to grow in future at a significant growth rate as a result of growing consumer awareness regarding basic sanitation and hygiene amenities. The product has a high demand worldwide attributed to its extensive use in the various end user industries. Pertaining to a low cost and easy use, it is used an adhesive, detergent, cement binder, cleaning compound, anticorrosive agent and a coagulating agent in several sector which is uplifting global market size. It is also utilized as a catalyst generating a profitable growth for market.
The product demand is expanding in water purification applications as a result of its corrosion resistant nature coupled with increasing atmosphere and nature concerns. American Water Works Association has also supported sodium silicate to be used in controlling erosion of municipal water. Furthermore, BASF SE, which in one of the major players in the global market has started huge investments in modernization of its silicon plan at Düsseldorf-Holshausen. The funding was for improving its existing manufacturing facilities for the next ten years. Furthermore, massive government spending on municipal water treatment facilities in developing countries such as India, Brazil, Indonesia, etc will positively impact on the sodium silicate market demand over the forecast timeframe.
| Report Attribute | Details |
|---|---|
| Base Year: | 2016 |
| Sodium Silicate Market Size in 2016: | 9 Billion (USD) |
| Forecast Period: | 2017 to 2024 |
| Forecast Period 2017 to 2024 CAGR: | 2% |
| 2024 Value Projection: | 11.5 Billion (USD) |
| Historical Data for: | 2013 to 2016 |
| No. of Pages: | 320 |
| Tables, Charts & Figures: | 407 |
| Segments covered: | Form, Application and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Market growth can be restrained due to harmful effect of the product on human health. Excessive human contact of chemical compound can cause harm to human health. Inhalation of sodium silicate can result in irritation in mucous membranes and in the respiratory tract. High concentration of the compound can also cause permanent damage to lungs. Thus, product use in limited concentration due to prevalence of stringent government legislations may hamper demand.
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Sodium Silicate Market Scope
