Global Potassium Silicate Market Analysis: Demand & Supply, End-User Demand, Distribution Channel, Regional Demand, 2015-2035
The global Potassium Silicate market is expected to expand to reach from approximately 510 thousand tonnes in 2021 and to grow at a CAGR of 2% during the forecast period until 2035.
Potassium silicate is an alkali silicate with chemical formula of K2SiO₃. Silica is dissolved in molten potassium carbonate to form potassium silicate as the final product. This process is known as calcination and occurs in temperature range of 1100-2300°F. It can also be synthesized in a reactor by using hot steam to treat a combination of caustic soda, water, and quartz sand silica. Potassium Silicate has fine properties which makes it an important component for manufacturing concrete. Due to solubility, miscibility, and dust resistance properties, potassium silicate is widely used for manufacturing of detergents and soap.
The primary market driver of Potassium Silicate is the Construction Industry. The underlying reason is that adding potassium silicate works as an excellent sealant and strengthens the concrete quality. In 2021, approximately 48% of global Potassium Silicate was utilized by the Construction Industry and is expected to dominate the Potassium Silicate in the coming years as well.
Based on demand across regions, the Asia Pacific is the largest consumer. This region reported to consume the highest percentage of Potassium Silicate market in 2021 held a market share of more than 50% in 2021. In the forecasted time, the market for potassium silicate is anticipated to be driven by the rising demand for potassium silicate in fertilizers and industrial applications in countries like India and China. North America and Europe stand behind APAC in terms of consumption.
Based on the end-user industry, the global Potassium Silicate market is segmented into different industrial sectors that include Construction, Welding, Detergents, Molecular Sieves, and others. The Construction industry is dominating as a consumer for Potassium Silicate market. In this sector, Potassium Silicate is employed as a binding agent in cement, concrete floor polish, and binder for coatings. Welding and Detergents industries also hold prominent shares of the global Potassium Silicate market.
To extract data for Global Potassium Silicate market, primary research surveys were conducted with Potassium Silicate manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Potassium Silicate market over the coming years.
ChemAnalyst calculated Potassium Silicate demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Potassium Silicate across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Potassium Silicate manufacturers, customers, and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, Global Potassium Silicates market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
With the given market data, ChemAnalyst offers customizations according to a company's specific needs.