Transparency Market Research has published a new market report titled “Sodium Silicate Market – Europe Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020”. According to the report, the europe sodium silicate market was valued at USD 808.8 million in 2013 and is expected to reach USD 897.6 million by 2020, growing at a CAGR of 1.5% during the forecast period from 2014 to 2020. In terms of volume, the sodium silicate market in Europe stood at 1,005.0 kilo tons in 2013.
Sodium silicate is a colorless water-soluble compound made from oxides of sodium and silica. It is prepared by the reaction of silica sand and sodium carbonate at high temperatures ranging between 1200°C and 1400°C. The aqueous form of sodium silicate is called water glass. Sodium silicate is widely used in various applications such as bleaching of paper, deinking of wastepaper, detergents drilling fluids, adhesives, water treatment, foundry and soil solidification.
Growth in the detergents market in Europe is anticipated to be one of the primary factors driving demand for sodium silicate in the region over the next few years. Furthermore, growth in the automotive industry in countries such as Germany and Italy is projected to boost the demand for sodium silicate in Europe as it is extensively used as filler for elastomers in automotive tires. The automotive tire industry has been experiencing notable growth over the past few years. This trend is expected to continue during the forecast period and in turn is expected to fuel demand for sodium silicate in Europe.
Increasing demand for sodium silicate in food & healthcare applications and subsequent growth of these industries in Europe is likely to boost market growth. However, presence of substitute products, such as trisodium phosphate and sodium carbonate, for dyeing applications coupled with fluctuation in prices of raw materials is expected to hamper market growth. Rising usage of sodium silicate for enhanced oil recovery (EOR) applications is anticipated to open up new opportunities for market growth.
Detergents was the largest application segment, accounting for over 35% of the total market share in 2013 in Europe. Elastomers is estimated to be the fastest growing segment during the forecast period due to growth in the automotive industry in the region. Furthermore, catalysts and other applications are likely to witness above-average growth during the forecast period. Germany, France and Italy together accounted for over 40% of the European sodium silicate market in 2013. Additionally, these countries are expected to witness the fastest growth in the sodium silicate market over the forecast period on account of increasing manufacturing activities of automotive tires. Countries present in Rest of Europe such as UK, Spain, and the Netherlands are anticipated to witness above-average growth over the forecast period due to the growth of the detergents industry.
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Key players in the sodium silicate market include PQ Corporation, PPG Industries, Evonik Industries, BASF SE, Tokuyama Europe GmbH, and W.R. Grace & Company.