Europe Sodium Silicate Market is projected to reach a value of US$897.6 mn by the end of 2020
The Europe market for sodium silicate is competitive in nature and is projected to enjoy a healthy competition in the next few years, states a new market intelligence report by Transparency Market Research. Some of the key players operating in the sodium silicate market in Europe are PPG Industries, PQ Corporation, Evonik Industries, Tokuyama Europe GmbH, BASF SE, and W.R. Grace & Company. The leading players in the market are focusing on the different stages of the value chain. Some of these companies are captively consuming the soda ash for the production of the sodium silicate and then provide services to the industries, such as agriculture, detergents and cleaning agents, elastomers, coatings, food and healthcare, and paper and pulp. As a result, the leading companies in the market have a robust presence across the different stages of the value chain. In addition to this, research and development activities in the market are estimated to accelerate the growth of the overall market in the next few years.
According to the market research study by Transparency Market Research, in 2013, the Europe market for sodium silicate was worth US$808.8 mn and is projected to reach a value of US$897.6 mn by the end of 2020. The market is likely to register a 1.50% CAGR between 2014 and 2020. On the basis of volume, in 2013, the Europe sodium silicate market stood at 1,005 kilo tons and is predicted to witness a steady rise throughout the forecast period.
Rising Demand for Automotive Tires to Drive Italy, France, and Germany Markets
The Europe market for sodium silicate has been categorized on the basis of geography into Austria, Germany, Slovakia, The Czech Republic, Ukraine, Italy, France, Poland, and the Rest of Europe. In 2013, France, Italy, and Germany collectively accounted for a share of about 40% of the market. As per the research study, these countries are projected to register a strong growth rate in the next few years. The high growth of these nations can be attributed to the rising manufacturing activities of automotive tires. Furthermore, several countries in the Rest of the Europe segment, such as Spain, the U.K., and the Netherlands are predicted to experience a promising growth, thanks to the rapid development of the detergents industry.
Among the key applications, the detergents segment is expected to witness a high growth throughout the forecast period. The strong growth of this region can be attributed to the development of the specialty detergents and cleaning products market. Furthermore, the segment for elastomers is anticipated to register a high growth in the next few years, thanks to the development of the automotive industry across Europe. Furthermore, the food and healthcare, catalysts, and other application segments are predicted to register a healthy growth in the coming few years.
Development of Construction Industry to Encourage Market Growth
The growing demand for detergents across Europe and the increasing demand for precipitated silica from the tire and rubber industry are some of the major factors that are projected to encourage the growth of the Europe sodium silicate market throughout the forecast period. In addition to this, the rising demand from the paper and pulp industry is another major factor, which is likely to accelerate the growth of the market in the near future. On the other hand, the rising use of substitutes in several applications and the harsh effects of sodium silicate are projected to restrict the growth of the overall market in the near future. Nonetheless, the rapid growth of the construction industry is projected to offer potential growth opportunities for the market players in the next few years.