Sellbyville, DE -- (SBWIRE) -- 10/16/2018 -- The Sodium Silicate Market is set to grow from its current market value of more than $9 billion to over $10 billion by 2024; as reported in the latest study by Global Market Insights, Inc.

Sodium silicate is chemical compound obtained from sodium oxide and silica. It is commonly known as liquid glass or water glass. Excellent properties of sodium silicate entail large number of applications in catalyst, detergents, chemicals, adhesive, food and pulp & paper. Anticaking characteristics of sodium silicate plays a vital role in food industry by preventing dry food products from clumping as well as it absorbs surplus moisture from food. Major application of sodium silicate in food application happens either in powdered or dried form which is further used in milk powder, flours products, sugar, grated cheese, egg yolk, among others.

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Oil and gas is one of the fastest galloping market as a result of high usage of catalyst in petroleum refineries for extracting gasoline is instrumental in influencing the global sodium silicate market growth over the forecast period. By 2017, the U.S. government had extended oil rig platforms increasing it from 1593 to 2029, to gain higher revenue and exploit significant opportunities in the market. Global demand for fuel had increased the usage of sodium silicate by way of catalyst cracking to meet fuel and energy supplier demand that will significantly grow the market over forecast period.

Basic household commodities like detergents which are gradually used for cleaning is accelerating the market owing to rising consumer awareness on hygiene and basic sanitation facilities. In order to maintain basic hygiene in household chores, consumers detergent consumption is considerably increasing, augmenting the overall application of sodium silicate in detergent products which is significant growing the potential market share.

Market growth is challenged by hazardous health concern on regular consumption of sodium silicate. Excessive consumption of sodium silicate lead to certain health ailment such as skin irritation, inhalation, lungs damage, etc. Limitation on sodium silicate consumption is negatively impacting the market growth. Moreover, ongoing research and development activities to innovate better substitute product may hinder market by forecast spell.

Consumption of sodium silicate in powder form will grow rapidly owing to rising application in various end-user products like food, construction and detergents. Liquid sodium silicate demand is growing in paper & pulp and adhesive industries, progressive demand for paper & pulp in manufacturing process of personal hygiene products is driving the market. Powder market segment was USD 350 million by 2016 and is likely to witness growth with growing application in several industries like elastomers, food, healthcare, detergents etc.

Pulp & paper is predominantly dominating the market. Detergent market is witnessing notable market growth, elastomers accounts for 10% of global sodium silicate market by the end of 2016. Growth is incorporated by continuous progression of automotive sector, generating greater demand for green tires. Elastomer are significantly used in green tires as reinforced filler to resists rolling.

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Asia Pacific market is growing by CAGR of around 2% over the forecast timeframe. China detergent market segment accounts over 65% of Asian market share. Increasing automotive production, oil drilling and construction activities will significantly impact sodium silicate demand in projected timeframe. In Europe, paper & pulp as well as healthcare industry is dominating sodium silicate market.

Global market companies are Nippon Chemical, Oriental Silicas, PPG Industries, Evonik Industries, BASF, Huber, W.R Grace, PQ Corporation, etc. Few of these leading players in marketplace are substantially investing on research and development activities for enhancing overall product portfolio as well strengthen market positions.

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