Potassium Silicate Market

Potassium Silicate Market Outlook (2023-2033)

The global potassium silicate market is set to enjoy a valuation of US$ 2.9 billion in 2023 and further expand at a CAGR of 3.7% to reach US$ 4.2 billion by the end of 2033.

Potassium silicate is a water-soluble alkali silicate that is widely used as a metal cleaning agent, a binder for cement and electrodes, and a flame retardant. The use of potassium silicate in the construction industry is likely to dominate the market with a market share of 21.4% by the end of the forecast period.

Report Attributes	Details
Market Size (2023A)	US$ 2.9 Billion
Forecasted Market Value (2033F)	US$ 4.2 Billion
Global Market Growth Rate (2023-2033)	3.7% CAGR
North America Market Share (2023)	~25.9%
East Asia Market Growth Rate (2023-2033)	~4.5% CAGR
United States Market Growth Rate (2023-2033)	~3.8% CAGR
Market Share of Top 5 Companies	~27.2%
Key Companies Profiled	C THAI GROUP PQ Corporation Shanti Chemical Works Captain Industries Baoding Runfeng Industrial Samarth Chemical Products CIECH Group Zalcon

Sales Analysis of Potassium silicate (2018-2022) Vs. Market Forecast Outlook (2023-2033)

Potassium silicate has properties similar to sodium silicate and can be used as an alternative to sodium silicate. Potassium silicate provides better solubility, lower efflorescence, and high-temperature resistance as compared to sodium silicate. In addition, potassium silicate has applications in soap and detergent production, construction, personal care formulation, and others due to its properties. In the agricultural sector, it can be used to increase the potassium content of the soil.

• Short Term (2023 to 2028): Growing use of detergents and soap is likely to drive the potassium silicate market in short term.
• Medium Term (2026-2029): Government initiatives towards the smart city and surging infrastructure developments to create lucrative opportunities for the potassium silicate market.
• Long Term (2029-2033): Growing construction industry in developing countries such as China and India coupled with efforts led by market players to dominate the global market in long term.

Over the 2018-2022 historical period, the global market registered a CAGR of 1.9%, and according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 3.7% CAGR between 2023 and 2033.

Market share analysis of potassium silicate based on application and region is provided in a nutshell in the above image. Under the application segment, the soaps and detergents production dominates with a 32.2% market share in 2023.

“Growing Construction Industry to Drive the Potassium Silicate Industry”

Growing building and construction industries across both developed and developing countries such as China and India are likely to drive the market in the coming years.

Potassium silicate is used as a flame retardant in wooden fixtures used in construction for furniture or aesthetic purpose which in turn fuel the sales of potassium silicate. The safety regulation imposed by various governments across the globe and the need for use of fire retardant components in architectural structures is increasing the demand for potassium silicate in the construction industry.

Additionally, adding potassium and sodium silicate to the concrete mixtures accelerates hydration and helps in reducing setting time. This can be helpful in the construction of building foundations, railroads, and underground tunnels. The binder property of potassium silicate makes them useful in cement and welding rods.

“Several Benefits of Potassium Silicate Opening New Doors for Manufacturers”

Potassium silicate is widely used as alkali silicate which is used widely in binder cement, metal cleaning, and electrodes as a flame retardant. It is widely used for horticulture applications in order to increase the potassium content of the soil.

Potassium silicate is viscous and hygroscopic when dissolved in water. Potassium silicate has properties similar to sodium silicate. It provides better solubility, temperature resistance, and lower efflorescence when compared to sodium silicate.

Potassium silicate can act as a corrosion inhibitor by forming a barrier to alkali attack which helps to protect sensitive glazed dishware, metal pipes, metallic surface, and glass. Potassium silicate can be found in a number of industrial applications. It can be used in industrial cleaning and protect the surface against corrosion. Also, potassium silicate has applications in decorative coating & paints and as specialty fertilizers in the horticulture industry.

The aforementioned factors are creating lucrative opportunities for the market’s growth.

“Raw Material Disrupted Supply and High Cost: A Challenge”

The dearth of raw materials and disruption in the supply chain due to external factors hamper the potassium silicate market’s growth. Silica and potassium carbonate are considered the most essential components in the manufacturing of potassium silicate. It is necessary to have a regular supply of these raw materials. Government laws regarding silica extraction also affect the raw material prices and irregular supply of these key raw materials can affect production. Also, handling potassium silicate requires caution as it can cause eye irritation.

Country-wise Insights

Will the Growing Personal Care Products Market in the U.S. Drive Potassium Silicate Market?

The United States market is valued at US$ 759.9 million in 2023 and is expected to reach a valuation of US$ 769.7 million by the end of the forecast period.

• The global personal care market is valued at over US$ 450.0 billion in 2022 and is anticipated to grow at a CAGR of 4.5% throughout the forecast period. The United States holds the majority of the market share in the global personal care market.
• The global haircare market is valued at over US$ 80.0 billion in 2022. The United States holds over 1/4th of the global market share.

Since cosmetics products are used on daily basis, consumers are more aware of the benefit and quality of cosmetics products. This is expected to drive the potassium silicate market in the coming years as potassium silicate is used to control the PH of cosmetic products. It is also used to prevent the corrosion of metallic materials which are used in cosmetic packaging.

Along with the rising personal care industry in the United States, the construction industry is also growing at health CAGR. The government’s investment in the building and construction industry is the key factor for the growth of potassium silicate in the United States. As potassium silicate has major applications in the construction sector. It is used as a concrete densifier.

Why is the China Potassium Silicate Market Expected to be Highly Lucrative?

The growing construction industry in China is expected to boost the demand for potassium silicate in the coming years. China's construction industry is growing at the fastest rate across the globe.

• China's construction industry is valued at over US$ 4.5 trillion in 2021 and will grow at a healthy CAGR in the forecast period.

In the building and construction sector, potassium silicate is used as a concrete densifier. It carries excellent sealing properties and gives the surface a good sheen and anti-abrasive properties. This is expected to boost the demand for potassium silicate from the construction industry in China.

China market is valued at US$ 515.4 million in 2023 and is expected to grow at a CAGR of 4.3% between 2023-2033.

Category-wise Insights

Why Liquid Form is Gaining Traction in the Potassium Silicate Market?

The liquid form is offer ease of application. Liquid potassium silicate in soap and detergents makes better wetting and cleaning properties. It is also useful in creating foam in liquid and foam paste soaps.

In the potassium silicate industry, the liquid form is anticipated to grow at a CAGR of 3.5% and reached a valuation of US$ 2.5 billion in 2033 from US$ 1.7 billion in 2023. The liquid form is estimated to have a market share of 58.5% in 2023.

Will Market Growth be led by Personal Care Formulation?

With the rising global population, the demand for personal care and cosmetic products is also increasing rapidly. In the cosmetics industry, potassium silicate is used in skin care, hair coloring, shaving, bath, oral hygiene products, eye makeup, and others as a base material in the formulation.

Growing concerns about skincare and rising disposable income have led to an increase in the sales of cosmetics and personal care products such as shampoos, conditioners, lotions, and others. Further, the beauty and personal care industry are flourishing.

For instance, the beauty and personal care products market is valued at over US$ 80.0 billion in 2022 and is expected to grow at a steady growth rate.

Personal care formulation in the potassium silicate market is expected to grow at a CAGR of 3.2% in between 2023 to 2033.

Eminent Player’s Key Strategies

Prominent potassium silicate manufacturers are C THAI GROUP, PQ Corporation, Shanti Chemical Works, Captain Industries, Baoding Runfeng Industrial, and Samarth Chemicals Products, among others.

The world’s leading manufacturers of potassium silicate are looking for diversifying their network to meet the growing demand for potassium silicate from various end-use applications such as soap and detergents, construction, metal mining, drilling fluids, and others. Manufacturers are also looking to increase production and tap the growing market across the globe to gain high-profit margins.

Fact.MR has provided detailed information about the price points of key manufacturers of potassium silicate positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Potassium Silicate Industry Research

• By Form :

  • Liquid
  • Solid

• By End-Use :

  • Soaps & Detergents
  • Construction
  • Metal Mining
  • Drilling Fluids
  • Electronics
  • Horticulture
  • Personal Care
    • Skin Care
    • Hair Care
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa