The Silanes and Silicones Market is on an upward growth trajectory and is predicted to register a CAGR of 5.93% over the forecast period of 2018-2023. The Global Silanes and Silicones Market is likely to catapult to USD 22,403 Mn by the end of 2023 from USD 15,945.2 Mn in 2017.
Silanes and Silicones find application across various industry verticals such as healthcare, aerospace, personal care, electronics, construction, and transportation. The Global Silanes and Silicones Market is witnessing consistent demand from the building and construction industry which is primarily substantiating the growth of the market. Heightened demand for paints & coatings, flame-resistant materials, and materials for waterproofing applications is catalyzing the growth of the market. In addition, the regions of APAC and Latin America are in the midst of rapid industrialization which further supports the growth of the market. Factors such as relatively cheap labor, land, competitive operational cost are auguring well for the growth of the market.
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The transition towards eco-friendly water-based coatings has opened up new avenues for the growth of the Global Silanes and Silicones Market. Other factors supporting market growth include increasing demand from the automotive industry. The renewable energy sector also extensively utilizes Silanes and Silicone in solar power generation. They also find application in photovoltaic purposes. Silanes and silicones practically find application in all industries either directly or indirectly and new applications are being added every day which is expected to augment the growth of the market over the forecast period.
On the other hand, the growth of the Global Silanes and Silicones Market might be impeded by various factors. Silanes and Silicones are primarily used in the manufacture of plastics used in the packaging industry. Substitution of paper as a packaging material is expected to impact the growth of the global silanes and silicones market negatively.
The Global Silanes and Silicones Market has been segmented based on type, Silane Application and Silicone Application.
By Type, the Global Silanes and Silicones Market has been segmented into silanes and silicones. The silanes segment has been further segmented into mono/chloro silane, vinyl silane, sulfur silane, Amino silane, alkyl silane, epoxy silane, methacryloxy silane, and others. The mono/chloro silane segment accounts for the largest share of 27.4 % of the global market. The semiconductor industry is continually generating demand for mono/chloro silane which is boding well for the growth of the segment.
By Silane Application, the Global Silanes and Silicones Application is segmented into paints & coatings, rubber & plastics, adhesives & sealants, fiber treatment, and others. In 2017, the paints & coatings segment was valued at USD 4,985.1 Mn and held a share of almost 31.3% of the global market. The building’s and construction industry extensively uses paints & coatings which drives the segment and is likely to attain a valuation of USD 7000 Mn by the end of the forecast period.
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By Silicone Application, the Global Silanes and Silicones Market has been segmented into construction materials, industrial processes, consumer care, electronics, healthcare, electronics, healthcare, energy, and others. The construction materials segment is leading the market and is expected to capture a CAGR of 7% over the forecast period. Booming residential and construction industry which largely uses silicones for waterproofing and flame-resistance is a key growth influencer.
By Region, the Global Silanes and Silicones Market has been segmented into North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). APAC accounted for the largest share of 40.56% of the global market in 2017. The APAC market is likely to retain its dominance over the forecast period and is expected to be the fastest-growing market. The growth of the market can be attributed to the booming semiconductor and construction industry in the region.
North America accounts for the second largest share of the global market and is likely to attain a valuation of USD 1358.5 Mn by the end of the forecast period. The expanding silicones segment is expected to augur well for the growth of the market.
Europe too a significant revenue pocket is anticipated to register the second-highest CAGR of 6% over the forecast period. Towering demand from the paints & coatings industry is boosting the growth of the Europe market. Germany is the key contributor to the Europe market.
Latin America market is expected to showcase a positive growth trend over the forecast period. The rapid growth of the construction and consequent demand for paints & coatings is expected to stimulate market growth over the forecast period. Meanwhile, the MEA market is estimated to be spurred by the construction industry.
Schill+Seilacher “Struktol” GmbH, DowDuPont, Gelest, Inc., CHT Group, Shin-Etsu Chemical Co., Ltd., Wacker Chemie AG, SiVance, LLC., PCC SE, Momentive Performance Materials, Inc.,
Evonik Industries AG is the key players in the Global Silanes and Silicones Market.
In September 2018, Momentive Performance Materials Inc. opened its new NXT silane production facility in the Leverkusen Chempark. The production plant will service major tire and automotive customers.
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