Global Silanes Market Report 2023: Increasing Focus on Fuel Efficiency and Regulatory Compliance Bolsters Growth

DUBLIN, June 14, 2023 /PRNewswire/ -- The "Silanes Market by Type (Functional Silanes, Mono/Chloro Silanes), Application (Rubber & Plastics, Fiber Treatment, Adhesive & Sealants), End-Use (Building & Construction, Electrical & Electronics, Automotive), And Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The silane market is approximately USD 2.9 billion in 2022, and it is projected to reach USD 3.9 billion by 2027 at a CAGR of 6.2%.

Out of the two silane types (Functional silanes and Mono/Chloro silanes), functional silanes have the largest market share. The growing end-use industries such as automotive and building & construction are expected to drive the market. The increasing automotive sales in emerging economies like China and India are also likely to drive the market during the forecast period.

By Type, the mono/chloro silanes segment accounted for the highest CAGR during the forecast period.

The increasing focus on renewable energy in emerging economies, such as China and India, is expected to drive the demand for ICs and PV cells, which in turn, will drive the mono/chloro silanes segment. Increasing per capita income and urbanization are expected to drive the demand for electrical and electronic products, which will increase the demand for silanes. Emerging applications of mono/chloro silanes in pharmaceutical syntheses as protecting agents are also expected to increase during the forecast period.

By Application, the fiber treatment segment accounted for the highest CAGR during the forecast period.

In this report, the silane market is divided into five application segments: rubber & plastics, fiber treatment, adhesives & sealants, paint & coatings and others. Other applications of silanes include ICs, flat panel displays, PV, pharmaceuticals, personal care processing, mining, household, institutional, and industrial.

Composites are gradually replacing traditional materials in the automotive and building & construction industries owing to lightweight, low maintenance, and higher chemical and heat impact resistance. To increase fuel efficiency and comply with emission norms, automobile manufacturers are increasingly using fiber reinforced composites, thus driving the silanes market.

By End Use Industry, building & construction accounted for the highest CAGR during the forecast period.

Demand for silanes is driven by increasing investment in major infrastructure projects across the world especially in the Asia Pacific region. Building & construction is a major end user of silanes. Silanes are widely used in buildings for the protection of the building environment from deterioration.

This sector includes coating materials for construction areas such as food & beverage production facilities, hospitals, pharmaceutical manufacturing areas, and kitchens. Because of advancements in silane coatings making it is suitable for various infrastructure construction.

Asia Pacific is projected to account for the highest CAGR in the silanes market during the forecast period.

The Asia Pacific region is the hub of foreign investments and growing industrial sectors largely due to low-cost labor and cheap availability of lands. Due to this, construction activities are increasing, which helps to increase the demand for silanes.

In addition to this, the demand for silanes in this region is also attributed to the growing manufacturing and packaging industries. India in Asia Pacific region accounted for highest CAGR in the silanes market, followed by China, Thailand and South Korea. These countries are projected to witness a steady increase in consumption between 2022 and 2027.

Market Dynamics

Drivers

• Increasing Focus on Fuel Efficiency and Regulatory Compliance
• Growing Automotive and Building & Construction Industries
• Rising Demand for Water-Based Coating Formulation

Restraints

• Low Growth in European Economies
• Growing Demand for Paper Packaging and Other Environment-Friendly Packaging Materials

Opportunities

• Emerging Applications in Pharmaceutical and Cosmetics Industries
• Rapidly Expanding Economies in Asia-Pacific

Challenges

• High Cost of Production

Companies Mentioned

• China National Bluestar (Group) Co. Ltd.
• Dow Corning Corporation
• Evonik Industries
• Gelest Inc.
• Jingzhou Jianghan Fine Chemical Co. Ltd.
• Momentive Performance Materials Holdings LLC
• Nanjing Shuguang Chemical Group Co. Ltd.
• Shin-Etsu Chemical Co. Ltd.
• Wacker Chemie Ag
• WD Silicone Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/c4e2te

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets