SODIUM SILICATE MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Sodium Silicate Market Analysis:

The Sodium Silicate Market is anticipated to reach a volume of 7.63 million tons by the conclusion of the current year, with a projected increase to 9.68 million tons within the next five years. This growth is expected to register a Compound Annual Growth Rate (CAGR) of over 4.87% during the forecast period.

The COVID-19 pandemic had a detrimental impact on the market, as manufacturing facilities and plants were forced to shut down due to lockdowns and restrictions. Supply chain and transportation disruptions further impeded the market. However, the industry has experienced a recovery in 2021, leading to a resurgence in demand for the market.

Over the medium term, the market is expected to grow due to increasing demand for waste paper recycling and precipitated silica from the rubber and tyre industry. Conversely, stringent government regulations and health risks associated with the hazardous effects of sodium silicate are expected to hinder market growth. Nevertheless, the growth of the construction sector is anticipated to provide numerous opportunities during the forecast period.

Asia-Pacific dominates the market, owing to high demand from various applications.

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