According to ChemAnalyst report, “Global Potassium Silicate Market Analysis: Demand & Supply, End-User Demand, Distribution Channel, Regional Demand, 2015-2035”, The Potassium Silicate market will likely experience a significant rise and reach approximately 510 million tonnes in 2035, at an expected CAGR of 2% during the forecast period by 2035. The rising demand from Construction, Welding, Detergents, Molecular Sieves, and Other end-use industries, is expected to swell up the demand for the Potassium Silicate market in the forecast period.
Potassium Silicate is an alkali silicate that is synthesized in a reactor with hot steam to treat a combination of caustic soda, water, and quartz sand silica. It has a chemical formula of K₂SiO₃. Potassium Silicate is a versatile alkali salt utilized in various industries like concrete manufacturing, detergent production, and fertilizers. This compound is highly soluble and henceforth used in production of detergents. Other industrial applications of Potassium Silicate are metal cleaning, welding rods, neutralize acidic salts, solubilizing fats and oils, and dispersing proteins.
The Potassium Silicate market globally is primarily driven by the Construction Industry. In 2021, the Construction Industry consumed approximately 48% of the global Potassium Silicate. This industry is expected to see a further expansion due to fast pace of construction of homes and industrial complexes. Furthermore, the demand from the agriculture sector, where in Potassium Silicate is employed as a source of potassium in fertilizers is expected to enhance the demand of Potassium Silicate in the forecast period. Also, its application in detergent as filler and soluble substances, also contributes to the market expansion.
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The global Potassium Silicate market is segmented based on end-use, sales channel, and region. Based on end-uses, the Potassium Silicate market is segregated into Construction, Welding, Detergents, Molecular Sieves, and Others. The Construction Industry is leading the Potassium Silicate market and accounted for a market share of about 48% of the Potassium Silicate market in 2021. It is anticipated to retain this position in the forecast period owning to the construction and industrialization across the globe.
Based on demand by region, Asia Pacific dominates the global Potassium Silicate market, consuming about a demand of greater than 50% of the global Potassium Silicate in 2021 amongst all other regions. Applications of Potassium Silicate in the agriculture and construction sector are creating the demand of Potassium Silicate, anticipated to further expand in the forecast period.
“With globalization, the construction activities are anticipated to rise, creating a demand of construction material which utilizes Potassium Silicate as a binding agent in cement, thus resulting in expansion of Potassium Silicate in the forecast period by 2035. Furthermore, its application in the Detergent industry as a filler is expected to further drive the Global Potassium Silicate demand in the forecast period. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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