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Europe Sodium Silicate Market will show exponential growth in the coming years owing to rise paper & pulp and healthcare industry

Author : Ronak Bora | Published Date : 2019-05-28 

Europe sodium silicate market is majorly driven by paper & pulp and healthcare industry. Recycling operations of waste paper are growing substantially due to rising environment awareness which will further enhance the market by 2024. Asia Pacific would grow over a CAGR of more than 2% during the entire timeframe. China’s detergent segment accounts for a share of over 60% of Asia Pacific sodium silicate market. Growing construction, automotive production and oil drilling operations will positively influence product demand in the forecast period.

The robust expansion of the automotive sector in recent years has left a humongous imprint on pivotal industry verticals. Sodium silicate market, falling under the umbrella of the specialty chemicals space, indeed forms a part of these verticals, the growth of which to a major extent, is inherently dependent on how the automotive domain fares. However, the application spectrum of sodium silicate or water glass, as it is commercially known, is rather diverse and is endowed with the scope to expand further with the onslaught of technological developments. An instance validating the authenticity of the aforementioned statement is that of Lithium Australia NL going public with its recent announcement of declaring a pivotal update on its patented chemical processing technology – the SiLeach®, which the company believes will be able to develop compounds such as caesium, sodium silicate, rubidium, and potassium sulphate. The commercialization of this technology is certain to augment the revenue graph of sodium silicate market, while also prompting other industry players to roll up their sleeves and bring forth a unique range of innovative solutions in this business space.

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Ever since the onset of the new millennium, Asia Pacific has evolved as a highly remunerative growth avenue for a plethora of businesses, the construction and automotive sectors in particular. Aided by a favorable regulatory frame of reference, especially across the emerging economies of China and India, APAC sodium silicate market has been forecast to be the fastest-growing regional business. The rising demand for elastomers and the expanding paper & pulp sector are indeed, pivotal driving forces responsible for the growth of this regional business. China’s paper industry, since the last many years, has observed an appreciable Y-O-Y growth rate, driven by robust investments in new technology and environmental innovation. The region’s paper production in the year 2014 was recorded at 118 million tons – a commendable accomplishment undeniably, that prompted major raw material manufacturers across the globe to invest in China’s growing paper industry.

More recently, in 2017, the Chinese government, in the wake of environmental safety, introduced an initiative to ban waste paper that is used to manufacture recycled paper products. China’s move to ban waste paper imports has unexpectedly turned out to be rather profitable for India’s paper manufacturers, since Indian wood pulp has the advantage of requisite self-sourcing. In essence, rising costs of finished paper are certain to upscale the India paper & pulp sector, which in consequence would lucratively impact the regional sodium silicate market size.

The rising demand for green tires lately on account of the growing environmental concerns is indeed playing a vital role in the growth of sodium silicate market, as it has prompted silica manufacturers to invest in capacity expansions for silica-induced rubber and carbon black tires. These tires apparently reduce the tire rolling resistance and contribute to saving at least 8% of the total fuel consumption. The green tire trend seems to have caught on feverishly in sodium silicate industry, with principal players working tirelessly to expand their silica manufacturing plants. Say for example, Evonik expanded its precipitated silica capacity in Chester in 2014 by around 20000 tons. In 2018, the sodium silicate market firm plans to invest around USD 120 million for the construction of precipitated silica plant near Charleston, solely to supply silica to tire makers for green tire development.

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Despite the potential jeopardy that the deployment of sodium silicate leads to, and the subsequent evolution of viable alternatives to the product, sodium silicate market has been projected to emerge as one of the most profitable verticals in the ensuing years. Indeed, the lucrative growth prospects of this business sphere can be aptly attributed to the widespread application range of this product. As on today, this inorganic chemical compound finds usage across adhesives, paper & pulp, silica gels, detergents, drilling fluids, catalysts, elastomers, paints, textiles, pottery, coatings, foundry, food, refractories, wood processing, and healthcare sectors. Evidently, sodium silicate industry size will be poised to register an extensive CAGR over 2017-2024, on the grounds of the product demand across pivotal domains. According to a reliable research report, sodium silicate market size has been forecast to surpass the 10-billion-dollar benchmark by 2024.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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