Electric vehicles demand to push sodium metasilicate pentahydrate market

6:35 AM, 16th January 2021

An ionic compound and a major component of commercial sodium silicate solutions, sodium metasilicate pentahydrate plays a key role in the manufacturing of electric vehicles (EV). With rising greenhouse gas emissions worldwide coupled with drifting consumer perceptions on environmental sustainability, the demand for electric vehicles has increased extraordinarily. The automobile industry’s growth is driven by the soaring need to reduce vehicle mass & develop alternate EVs, which is likely to push sodium metasilicate pentahydrate market share.

To highlight the same with an instance, a report by the IEA claims that the sales of electric cars topped 2.1 million in 2019 across the globe, boosting the stock of the electric cars to 7.2 million. This surpassed 2018 sales which was already a record year. EVs accounted for 2.6 percent of worldwide car sales and nearly 1 percent of car stocks globally in 2019, registering a 40 percent year-on-year increase.

Attributed to such reasons, a recent study conducted at Global Market Insights Inc, the worldwide sodium metasilicate pentahydrate industry size is projected to surpass $875 million by 2025.

Furthermore, major industry players are also engaging in numerous growth strategies to enhance their product quality and expand geographical presence. The chief industry participants that are a part of this landscape include Nippon Chemical Industrial, American Elements, Sigma Aldrich, Silmaco, Shanghai Yueda Industrial & Chemicals, Ricasil Industries, Diatom, Graham Chemical Corporation, and Sunrise Chemicals.

Enumerated below are a few trends that are likely to boost sodium metasilicate pentahydrate industry dynamics through the next few years:

Favorable government initiatives to boost the market outlook

The regional government bodies have a major role to play in increasing sodium metasilicate pentahydrate size. Their rising contribution toward funding construction and renovation activities in nations such as China, India, Malaysia, and Singapore, is likely to provide a positive impetus to the cement application segment of this business. As per estimates in fact, the 50 percent sodium metasilicate pentahydrate industry share from cement application segment is anticipated to exceed $30 million by 2025.

Alongside, favorable government initiatives towards ecological and sustainable construction activities are also poised to positively impact market growth. Since this compound is used as a connecting agent to produce refractory cement, its features like hardness, heat, and chemical resistance will favor the rise in demand for cement.

The mounting demand for laundry detergents from various industries

99 percent sodium metasilicate pentahydrate industry revenue from washing powder & detergent applications is estimated to exceed $100 million by 2025. The growth is propelled by the increasing demand for laundry detergents from diverse industries like hospitals, textile, hotels, and restaurants. Owing to its oil and grease cleaning and removal power coupled with its buffering agent feature that helps in inhibiting process corrosion and soil anti-redeposition, the product demand is set to flourish.

Furthermore, due to a variety of product offerings, time-saving, and easy delivery options, consumers are shifting their preference towards the e-commerce channels.

Increasing Elderly Population to Play a Key Role in proliferating Europe’s 29 percent sodium metasilicate pentahydrate market

The 29 percent sodium metasilicate pentahydrate industry landscape in Europe from cosmetic applications is forecast to cross $5 million by 2025, driven by the increasing elderly population. The rise in the use of hair colors by the geriatric population is likely to play a pivotal role in regional growth. Along with the aging population, the millennials will also support the market expansion with the escalating adoption of fashion including bleaching and hair coloring which uses sodium metasilicate pentahydrate as a peroxide bleach stabilizer.

Browse key industry insights spread across 260 pages with 348 market data tables & 20 figures & charts from the report“Sodium Metasilicate Pentahydrate market size by purity (29 percent [by application {cosmetics, ceramic, paper, detergents, textiles}], 50 percent [by application {oil drilling, cement, textile, detergent, paper, ceramics, electroplating}], 99 percent [by application {washing powder & detergent, textile, cement, paper, ceramic, metal surface treatment, chemical production, flameproofing, mineral floatation}], industry analysis report, regional outlook, application potential, price trends, competitive market share & forecast, 2019 - 2025” in detail along with the table of contents: https://www.gminsights.com/request-sample/detail/3343  

© Worldofchemicals News

Contact Info:

Arun Hegde
Corporate Sales, USA
Global Market Insights Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Website: https://www.gminsights.com



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