Press release
Silane Market – Analysis and Forecast To 2024, Hubei Wuda Organic Silicon New Material Co. Ltd., Momentive Performance Materials Holdings Inc., Gantrade Corporation, Qufu Chenguang Chemical Co. Ltd., and Tokyo Chemical Industry Co.
The global silane market was valued at USD 1,669.6 million in 2018 and is expected to grow at a CAGR of 4.8% during the forecast period. Silanes are originated from a silicion-based compound that comprises of approximately four inorganic or organic substituent clusters, which is attached with an essential silicon atom. The product offers several advantages to its users such as exceptional water repellence, UV stability, long term durability, high dilution capability and stability and neutral appearance. Silanes are rapidly being utilized as a promoter of adhesion that helps in improving temperature, chemical resistance and moisture.
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Insight by Application
On the basis of application, silane market is segmented into rubber & plastics, adhesives & sealants, fiber treatment, paint & coatings, and others. Among all the applications, paints and coatings were the largest application area in the global silane market in 2018 and due to its widespread use in various industries such as automobiles, buildings, electronics, and machinery.
Growth Drivers
Moreover, in the recent past, it has been observed that the extensive growth in the building & construction industry has further ensued rapid increase in demand for the product pertaining to paints & coatings application. Furthermore, the demand for this product is strengthening due to increasing expenditure on developmental activities in BRIC countries. According to a recent report, it has been studied that the growing environmental responsiveness in developed economies such as North America and Europe has stimulated the use of water-based coatings due to certain benefits observed from the product as it is toxic free. Additionally, emerging economies are expected to observe rapid demand for waterborne coatings due to harmful environmental effects observed on solvent-based coatings. Moreover, due to enhanced performance efficiencies the market is expected to witness accelerating demand for silanes-based waterborne coatings during the forecast period.
Geographic Overview
Moreover, North America was the second-largest consumer of silane in the global market. Furthermore, increasing inclination of customer towards waterborne coatings has driven the demand for the product in several countries such as the U.S. and Canada. It has been observed that the demand for fuel-efficient cars in this region is further bolstering the demand for silanes-based tires in the automotive sector.
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Competitive Insight
The key industries players are adopting integrated operations across manufacturing components and raw materials of the value chain, due to their increasing interference in the manufacturing of silicone. Key players operating in the global silane market are Evonik Industries, Shin-Etsu Chemical Co., Ltd., Gelest, Inc., Jingzhou Jianghan Fine Chemical Co. Ltd., Wacker Chemie AG, Nanjing Union Silicon Chemical Co., Ltd, DowDuPont Inc., NEOCHEMA GmbH, SiSiB SILICONES, Hubei Wuda Organic Silicon New Material Co. Ltd., Momentive Performance Materials Holdings Inc., Gantrade Corporation, Qufu Chenguang Chemical Co. Ltd., and Tokyo Chemical Industry Co., Ltd.
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VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies.
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