A three-pronged approach was followed for deducing the sodium silicate market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for sodium silicate market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of sodium silicate market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The sodium silicate market was categorized into four segments, namely application (Detergents, Catalysts, Pulp & paper, Elastomers, Food & healthcare), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).
The sodium silicate market was segmented into application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The sodium silicate market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-nine countries, namely, the U.S.; Canada; Mexico; Germany; the UK.; France; Italy; Spain; Netherlands; Russia; Switzerland; China; India; Japan; South Korea; Australia; Thailand; Indonesia; Singapore; New Zealand; Philippines; Brazil; Argentina; Chile; UAE; Saudi Arabia; South Africa; Egypt; and Iran.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The sodium silicate market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Solvay S.A. - Solvay S.A. was established in 1863 and is headquartered in Belgium. It is a multinational organization primarily engaged in the manufacturing, distribution, and sale of specialty and fine chemicals. The company manufactures sodium silicate, which is later used for the production of highly dispersible silica, and conventional silica. Some other chemicals manufactured by the company include amines, antioxidants & stabilizers, barium & strontium derivatives, calcium & magnesium derivatives, chlorine derivatives, fluorine derivatives, lithium derivatives, peroxygens, phenol & derivatives, phosphorous derivatives, polymers, sodium derivatives, solvents, and specialty chemicals & polymers. The company caters to various application industries including agriculture, automotive & aerospace, building & construction, consumer goods & healthcare, and electrical & electronics. As of 2016, the company had approximately 27,000 employees working across its branches worldwide.
PQ Corporation - PQ Corporation, established in 1831 is a specialty inorganic performance catalyst and chemical manufacturer headquartered in the U.S. The company was previously known as Philadelphia Quartz Company and changed its name to PQ Corporation in 1978. PQ Corporation manufactures zeolite, silicate, and other performance materials and serves various end-use industries including petroleum, water treatment, paper and pulp, detergents, beverage, and construction. The company offers precipitated silica and silica gel for various applications including oil processing, food & beverage, personal care, surface coating, and personal care. The company has been in the silica gel business since 1976, and this product offered by the company is used for manufacturing high-density polyethylene (HDPE), and polymers.
Evonik Industries AG - Evonik Industries AG, established in 2007, is a specialty chemical manufacturing company headquartered in Germany. The company serves various end-use markets including agriculture, consumer goods, plastics and rubber, pharmaceuticals, electrical & electronics, renewable energies, paints & coatings, automotive, food & animal feed, and metal & oil products. The company operates through three major business operating segments including performance materials, resource efficiency, and nutrition & care and service segment. The performance materials segment of Evonik Industries consists of agrochemicals and polymer additives, performance intermediates, methacrylates, and acrylic product lines. The nutrition & care segment consists of animal nutrition and agricultural products. The resource efficiency segment caters to the needs & requirements of various industries including automotive, paints & coatings, adhesives, and construction.
CIECH Group - CIECH Group was established in 1945 and is headquartered in Poland. The company offers a range of products including salt, epoxy resins, glass and agricultural products, polyester, and sodium bicarbonate. The products offered by CIECH Group are used for various end-use industries including detergents, food, glass, furniture, agriculture, and construction. The group is active in three business divisions including soda, organic and silicates, and glass segment. The soda segment of the group offers soda ash, evaporated salt, and baking soda through its CIECH Soda Polska, CIECH Soda Deutschland, and CIECH Soda Romania subsidiaries. These companies serve food industries, glass, detergents, pharmaceutical industries, and household markets across the world. The organic segment offers epoxy resin, polyester resins, saturated and unsaturated polyurethane, and food processing products. The silicates segment of the company offers sodium and potassium silicates.
BASF SE - BASF SE was founded in 1865 and is headquartered in Germany. The chemical company is into the production of solvents, plasticizers, monomers, glues, electronic chemicals, pigments, care chemicals, nutrition, and health products. The company also manufactures battery materials, engineering plastics, polyurethane, automotive and industrial coating materials, fungicides, herbicides, insecticides, and crop care products. The company operates through 5 business divisions namely Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions, and Oil & Gas. The chemical segment of the company offers a range of basic chemicals, solvents, plasticizers, and electronic chemicals. The segment serves various application industries including textiles, detergents, paints & coatings, crop protection, medical, and plastics.
PPG Industries, Inc. - PPG Industries, founded in 1883, is a U.S.-based company specializing in paints, fiberglass, coatings, specialty materials, optical products, and glass supplies. The company operates through its business units, which include aerospace, specialty coatings & materials, architectural coatings, flat glass, protective, & marine coatings, automotive OEM coatings, packaging coatings, automotive refinish industrial coatings, and fiberglass. The company manufactures a wide array of decorative and conductive inks, coatings, and adhesives. The company’s conductive ink brands operational in the market include safeon-substrate (SOS) series, Z series, polymer thick film (PTF), and electrostatic discharge (ESD) coatings. The company has over 47,200 employees as of 2017 and owns 155 manufacturing facilities worldwide. PPG industries serve customers in industrial, construction, transportation, and consumer products markets.
W.R. Grace & Company - W.R. Grace & Company, established in 1854 is a specialty chemical and material manufacturer headquartered in the U.S. The company is listed on the New York Stock Exchange and offers value-added services and products across the world. The catalyst technology segment of the company manufactures catalysts and related products. These products are used in petrochemical, chemical manufacturing, and refining applications. The company manufactures specialty building materials and chemicals through its construction products segment, whereas the material technology division of the company offers engineering material and packaging technologies.
Tokuyama Corporation - Tokuyama Corporation, established in 1918 is a chemical manufacturer headquartered in Tokyo. The company primarily operates through four product segments including chemicals, cement, specialty products, and life amenity segment. The chemical segment of the company offers chlor alkali, organic chemicals, soda, and vinyl chloride; whereas the cement division of Tokuyama Corporation is engaged in manufacturing recycling, environment, and cement. The specialty product segment of the company offers fumed silica, high-purity chemicals, aluminum nitrate, and electronic materials. In addition, the company manufactures synthetic resins, dental materials, ion exchange membranes, and microporous films.
Sinchem Silica Gel Co, Ltd. - Sinchem was established in 1993 and is engaged in R&D, production, design, and sales of silica gel and sodium silicate products. The company has three subsidiaries including Tengzhou Hongtai Chemical Co., Ltd, Tengzhou Xinxu Chemical Material Co., Ltd. and Shandong Sinchem Silica Co., Ltd. Sinchem offers a range of products, such as silica gel plates, quenching sodium silicate, activated silica, silica gel desiccant, silica sol, and wide pore granular silica gel. In 2016, the company manufactured over 80,000 tons of silica gel annually and about 200,000 tons of sodium silicate. In addition, Sinchem is involved in the manufacturing of quarts. The products offered by the company are used in various applications including pharmaceuticals, cosmetics, personal care, adsorption separation purification, catalysts, and paints.
Shangyu Huachang Industrial Co., Ltd. - Shangyu Huachang Industrial Co., Ltd., established in 1965 is a chemical manufacturing company headquartered in China. The company owns five subsidiaries, namely, Shijiazhuang Shuanglian Weiye Commerce and Trade Co., Ltd., Shijiazhuang Shuanglian Rui'er Co., Ltd., Shijiazhuang Shuanglian Fine Chemical Company, Shijiazhuang Shuanglian Compound Fertilizer Co., Ltd., and Shijiazhuang Shuanglian Machinery Co., Ltd. The company's products include soluble sodium silicate, silica solution, acrylic emulsion, and sodium silicate liquid. The products offered by the company are used for various applications including detergents, oil-filled drilling, coating, and metal repairing applications.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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