Global Silanes Market to Surge Ahead – Anticipating a CAGR of 4.6% by 2033. Painting, Coating & Renewable Energy Sectors Drive Demand | Future Market Insights, Inc.
According to the recent report on the Silanes study by FMI, the market is projected to reach US$ 4652.40 million by 2033, with a compound annual growth rate (CAGR) of 4.6%. The escalating demand for silane-based coatings from the construction sector is contributing significantly. Asia Pacific’s construction projects and North America’s infrastructural renovations fuel the demand for coatings, adhesives, and plastic components. In the automotive sector, the Middle East and South America witness a surge in lightweight plastic components and tires.
NEWARK, Del, Aug. 15, 2023 (GLOBE NEWSWIRE) — The Global Silanes Market Size is anticipated to reach a valuation of US$ 2967.29 million in 2023 and is projected to accumulate over US$ 4652.40 million by 2033 while exhibiting a CAGR of 4.6% during the forecast period.
The demand for paint and coating products is on the rise, driven by the expanding construction sector that extensively employs silane-based coatings. Over the forecast period, this trend is expected to escalate. Notably, the Asia Pacific region’s growing construction projects and the increasing infrastructural renovation activities in North America and Western Europe are major contributors to the heightened demand for various industrial coatings, adhesives, and plastic components.
The Middle East and South America regions are experiencing a surge in demand for automobiles, leading to an increased need for lightweight, durable plastic components and tires. This surge in demand necessitates a substantial supply of silane products to sustain continuous production operations.
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The demand for silane is rising due to high demand from paint & coating formulators and adhesive & sealant manufacturers. Factors like green building construction, residential complex expansions, and increasing renovation activities have boosted the demand for construction sector adhesives. This is expected to drive the market to new heights in the coming years.
Silane plays a crucial role in the electronics industry, particularly as silane gas is extensively used in semiconductors, which are essential components in electronic devices. The increasing global demand for electronic gadgets and devices is expected to significantly contribute to the market’s growth.
Increased environmental awareness is expected to drive the demand for solvent-free, UV-cured coatings, leading to higher utilization of silane in formulating such coatings. As a result, the paints & coatings application segment is expected to experience growth, thereby contributing to market expansion.
Silane’s anti-corrosive properties and versatile mechanical & electrical characteristics make it essential for manufacturing fiberglass used in wind turbine blades and pure silicon for solar photovoltaic cells. The rising demand for clean energy sources has led to increased installations of solar and wind energy capacity worldwide.
For instance, the United States installed 6.62 GW of onshore wind & solar storage capacity in Q1 2022, marking an 11.5% increase from 2020. Similarly, China’s solar installation capacity reached 53 GW in 2021, representing a 10% increase compared to 2020. This surge in renewable energy installations is expected to drive the utilization of silane in the power generation sector for wind turbines and solar cell applications, positively impacting the growth of the silane industry.
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Key Takeaways from this Market Report are:
- The market in China is expected to expand at a CAGR of 4.7% during the forecast period.
- The United States market is expected to be worth over US$ 850 million by 2033.
- By product type, organo-functional silanes are expected to generate sales with a CAGR of 5% during the forecast period.
“Growing demand for silanes from adhesive & sealant manufacturers, and paints & coating formulators is expected to drive market growth during the forecast period,” – comments an analyst at FMI.
The top 22 Players in Silanes Market are:
Key players in the silanes market are proactively engaged in creating and innovating new products with unique attributes to enhance their portfolios and expand their customer base worldwide. Furthermore, some companies are placing a strong emphasis on strengthening their retail networks and establishing well-structured supply chains to efficiently serve their customers.
The key market players involved are:
- KCC Corporation
- OCI Company Ltd
- Dow Inc.
- Momentive Performance Materials Inc.
- Evonik Industries AG
- Wacker Chemie AG
- Shin-Etsu Chemical Co. Ltd.
- China Bluestar International Chemical Co. Ltd
- Dalian Onichem Co. Ltd.
- Tokuyama Corporation
- Power Chemical Corporation
- Nanjing Shuguang Silane Chemical Co. Ltd.
- BRB International B.V.
- Nanjing Union Silicon Chemical Co. Ltd.
- Nanjing Wanda Chemicals Co. Ltd.
- Miliken Chemical
- Supreme Silicones
- Air Liquide Advanced Materials Inc.
- Qufu Chenguang Chemical Co. Ltd.
- Nitrochemie AG
- Gelest Inc.
- WD Silicone Co. Ltd.
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Some recent developments in the Silanes market are:
- In October 2021, Brenntag expanded its distribution agreement with Evonik Industries to cover silane product distribution in 16 eastern European countries, including Poland, Czech Republic, Slovenia, Slovakia, Hungary, Serbia, Romania, and others.
- In October 2021, WACKER bought a 60% stake in specialty silane manufacturer SICO Performance Material Co. Ltd.
- In January 2021, Momentive Performance Materials acquired Ku Corporation’s (KGC) sales activities in China and its business operations in Korea and the United Kingdom.
Key Segments Profiled in the Silanes Industry:
By Product Type:
- Organo Functional Silanes
- Vinyl Silanes
- Amino Silanes
- Epoxy Silanes
- Methacryloxy Silanes
- Styryl Silanes
- Acryloxy Silanes
- Amino Silanes
- Others
- Mono/Chloro Silanes
- Others
By Application:
- Rubber
- Tire Rubbers
- Polyester
- Nylon
- Rayon
- Others
- Non Tire Rubbers
- Ethylene-propylene
- Nitrile Butadiene Rubber
- Styrene Butadiene Rubber
- Polybutadiene
- Natural Rubber
- Others
- Tire Rubbers
- Plastics
- Nylons
- Polycarbonate
- Polystyrene
- Poly Vinyl Chloride
- Others
- Adhesives & Sealants
- Fiberglass and Composites
- Paint, Ink, and Coatings
- Electronics
- Mineral and Filler Treatment
- Surface Protection
- Others
By End-Use:
- Building and Construction
- Oil & Gas
- Electrical and Electronics
- Automotive and Aerospace
- Medical and Pharmaceuticals
- Chemical and Other Industries
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global silanes market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the silanes market, the market is segmented on the basis of product type, application, end-use, and region.
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