Silanes Market worth 3.9 Billion USD by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Feb. 8, 2023 /PRNewswire/ -- The report "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", The market for silanes is approximated to be USD 2.9 billion in 2022, and it is projected to reach USD 3.9 billion by 2027, at a CAGR of 6.2%. The major drivers influencing the growth of the silanes market are increasing focus on fuel efficiency and regulatory compliance, growing automotive and building & construction industries and rising demand for water-based coating formulations. However, growing demand for paper and other environment-friendly packaging materials and VOC emissions during silane production are the factors expected to restrain the market of silanes. Emerging applications in pharmaceuticals, cosmetics, and semiconductor industries, rapidly expanding economies in Asia Pacific presents a significant market opportunity for silane manufacturers. Moreover, high cost of production is the major challenge for the silanes market.
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286 - Market Data Tables
50 – Figures
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By Type, functional silanes accounted for the largest share in 2021
Functional silanes accounted for the larger share of the silanes market by type in 2021, in terms of value and volume. The types of functional silanes considered in this study are alkyl, aryl, or functional group at one end and methoxy, ethoxy, or acetoxy group at the other end. Based on their functional groups, they are categorized into amino silanes, vinyl silanes, epoxy silanes, alkyl silanes, phenyl silanes, methacrylate silanes, and sulfur silanes. Functional silanes are used as adhesion promoters, coupling agents, crosslinking agents, and resin additives in rubber & plastics, paint & coatings, adhesives & sealants, and fiber treatment applications. 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 Application, rubber & plastics segment accounted for the largest share in 2021
In this report, the silanes 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. Rubber & plastics was the largest application of silanes in 2021, which was backed by the growth of the automotive and consumer goods industries. The increasing awareness about green tires, as a result of stringent regulations on fuel efficiency, and development of environment-friendly coatings are the major drivers of the silanes market in this application during the forecast period.
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By End Use Industry, the building & construction segment accounted for the largest share in 2021
Silanes are widely used in buildings for the protection of the building environment from deterioration. Silanes are also used as coating materials in various construction areas such as food & beverage production facilities, hospitals, pharmaceutical manufacturing areas, and kitchens. The rising demand for building construction in developing economies is expected to accelerate the growth of the silanes market during the forecast period.
Asia Pacific accounted for the largest share of the silanes Market in 2021
The Asia Pacific region is the hub for 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 high growth in the automotive industry. China was the region's largest market for silanes in 2021, followed by Japan, India, and South Korea. These countries are projected to witness a steady increase in consumption between 2022 and 2027.
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Key Market Players
The silanes Market comprises major players such as Evonik Industries (Germany), Shin-Etsu Chemical Co. Ltd (Japan), Momentive Performance Materials Holdings LLC (US), Dow Inc. (US), Wacker Chemie AG (Germany), Gelest Inc. (US), China National BlueStar (Group) Co. Ltd. (China), WD Silicone Co. Ltd. (China), Jingzhou Jianghan Fine Chemical Co. Ltd. (China), and Nanjing Shuguang Chemical Group Co. Ltd. (China) and others are covered in the silanes market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the silanes market.
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