Market Research Future (MRFR) has revealed in its latest study that the global Silanes and Silicones Market is set to expand at a CAGR of 5.93% during the forecast period 2018 to 2023. The valuation of the market is poised to reach USD 22,403 Mn by 2023-end up from USD 15,945.2 Mn in 2017. Silanes and silicones have developed applications across different industry verticals. Out of all the end-user industry verticals, building & construction industry plays a significant role in driving the demand for silanes and silicones. The increasing demand for paints & coatings, and waterproofing & flame-resistant materials is expected to catalyze the market expansion.
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The rapid urbanization and industrialization witnessed in the Asia Pacific, and Latin America are expected to intensify the competitive landscape of the market. The factors favoring the increase in demand in the Asia Pacific include low land & labor cost, the thriving consumer electronics industry, competitive operational cost, etc. Additionally, the shift towards eco-friendly water-based coatings has opened new avenues of growth and innovation opportunities for the market players.
The rising demand for silanes and silicones from the automotive industry as well as the renewable energy industry are prognosticated to augment the market over the projection period. The widening range of application in solar power generation has paved the way for market proliferation. However, the stringent enforcements regulating the utilization of silicones in the cosmetic industry is projected to hold the expansion of the market in the forthcoming years.
Global Market for Silanes and Silicones- Competitive Dashboard:
The key players profiled in MRFR’s report include Gelest, Inc., Schill+Seilacher “Struktol” GmbH, PCC SE, Shin-Etsu Chemical Co., Ltd., Momentive Performance Materials, Inc., CHT Group, DowDuPont, Evonik Industries AG, Wacker Chemie AG, and SiVance, LLC
Global Market for Silanes and Silicones- Segmental Analysis:
MRFR’s report offers a detailed segmental analysis of the market based on type, silane application, and silicone application. By type, the global market has been segmented into silanes and silicones. The silanes segment is further sub-segmented into mono/chloro silane, Amino silane, alkyl silane, vinyl silane, sulfur silane, epoxy silane, methacryloxy silane, and others. The mono/chloro silane segment accounts for the largest share of the market currently and accounts for 27.4% of the market revenue. The increasing demand from the semiconductors industry is likely to drive the growth of the segment over the forecast period.
By silane application, the market is segmented into paints & coatings, rubber & plastics, adhesives & sealants, fiber treatment, and others. The paints & coatings segment accounted for 31.3% of the market share and was valued at USD 4,985.1 Mn in 2017. The segment is estimated to reach a valuation over USD 7000 Mn by the end of the projection period. The growth of the segment is attributable to the strong value maintained by the buildings and construction sector.
By silicone application, the market has been segmented into construction materials, transportation, industrial processes, consumer care, electronics, healthcare, energy, and others. The construction materials segment is projected to expand at a CAGR of over 7% during the assessment period. The growth can be ascribed to the thriving residential and construction industry coupled with rising demand for waterproofing and flame-resistant materials.
By region, the global Silanes and Silicones Market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is the largest market for silanes and silicones and accounted for 40.56% of the global market share in 2017. The regional market is projected to expand at the highest CAGR during the assessment period.
North America holds the second spot in the global Silanes and Silicones Market. The regional market is expected to witness a growth of USD 1358.5 Mn in terms of market revenue from 2017 to 2023. The expansion of the silicones segment is anticipated to catalyze the growth of the market in the region.
Europe is an important growth pocket and is prognosticated to register the second-highest CAGR of 6% over 2023. Led by Germany, the region is poised to witness a surge in demand from the paints & coatings industry through the review period.
Latin America is forecasted to exhibit positive growth over the next few years. The increasing demand for construction materials and paints & coatings is anticipated to catapult the regional market on an upward trajectory in the foreseeable future. Meanwhile, the Middle East & Africa is set to show a healthy rate of market expansion owing to the boom witnessed in the construction sector.
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