Global ethyl polysilicate market is anticipated to cross US $670 million by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2025.
Ethyl polysilicate is known to act as a chemical modifier and shrinkage reducing agent in the textile industry. The growing disposable income around the globe is cited to drive the textile industry to exceed US $1 trillion by 2025 and ethyl polysilicate being an important contributor to the industry will witness significant increase in demand, cites the study. The stringent regulations for safety, environment, and health protection will further drive the ethyl polysilicate market towards growth.
Ethyl polysilicate market is projected to exhibit gains of over 3.0% from pharmaceutical industry by 2025 owing to its property of maintaining an airtight covering and preventing the drug from any contamination. Surge in lifestyle related diseases such as cholesterol issues and diabetes will boost the demand for drugs, which in turn will propel the ethyl polysilicate market growth.
The adhesive and bonding properties of ethyl polysilicate find their applications in metal industry as it helps in preventing the metal surface from foreign contaminants. The metal end-user industry is presumed to contribute US $80 million by the end of 2025 owing to the increasing demand of metal for manufacturing equipment and machinery, as cited in the study.
India, being a developing economy, has increasing number of construction projects for hospitals and schools which will bolster the demand for paints. Ethyl polysilicate is used in paints & coating industry to reduce the drying time and give water resistance property to the paints. The regional ethyl polysilicate market from paints & coatings industry end-use is estimated to surpass US $27.5 million by 2025.
Moreover, optical end-use industry is anticipated to observe 2.5% gains over the study timeframe, owing to its binding property used for manufacturing eyeglass frames. Growing instances of ophthalmic ailments around the globe will foster the demand for the product, claim market analysts.
According to the report, the high-performance coatings market worldwide is projected to witness 5% growth by 2024 due to the increasing construction activities around the globe. Ethyl polysilicate is used for the manufacturing of high-performance coatings owing to its binding property. This factor will bolster UK market growth from binding applications, observing gains over 3.5% by 2025.
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However, there are few limiting factors which will restrict the market growth. The ethyl polysilicate is known to be flammable and toxic which might cause serious health problems to personnel working with and exposed to the product for longer period. Various body parts including liver, kidneys, and eyes are adversely impacted by the continuous exposure to the product, thus hampering the growth and profitability of ethyl polysilicate market.
The use of ethyl polysilicate 28, containing 28% silica, in enamel manufacturing as modifying agent will foster the product demand. By 2025, the ethyl polysilicate 28 market in United State is presumed to exceed US $55 million owing to the introduction of innovative products and increased R&D investment in the enamel industry.
The key players of ethyl polysilicate market profiled in the report include Evonik, Momentive, Wacker, Nangtong Chengua Chemical, Changzhou Wujin Hengye Chemical, and COLCOAT.