Silane Market to Grow by Around $500.0 Million during 2018¬-2023

Commercial vehicle sales steadily increased from 16 million in 2009 to around 26 million in 2018 and personal car sales from 50 million to 69 million during the same period, as per the Organisation Internationale des Constructeurs d'Automobiles (OICA). This boom in the automotive industry has been raising the demand for various vehicle components and raw materials, such as paints and coatings, adhesives and sealants, and rubber. Now, there are various raw materials that go into the production of these products; one of those is silane, chemically represented as SiH4, the demand for which is rising with the growth in vehicle manufacturing.

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Driven by the expanding automotive sector, the silane market is projected to grow from $1,577.9 million in 2017 to $2,047.0 million in 2023, at a 4.3% CAGR during 2018-2023. An organic compound, SiH4 is used during tire production, to chemically join polymers and non-black pigments. Higher compound strength, enhanced abrasion and rolling resistance, and improved compression are some advantages of tires made from silane-treated rubber. Such tires also offer longevity and better traction, and these also have the potential to reduce vehicles' fuel consumption, which is a key focus area in the wake of severe air pollution levels.

Among the various types of coatings, water-based variants treated with silane are witnessing a rise in demand, primarily from the construction sector. As these coatings do not evaporate in small spaces or those with inadequate ventilation, their usage in railroad and storage tanks is increasing. Similarly, these are now being preferred over traditional varnishes, owing to their smoother finish and texture, lesser application time,and higher gloss. Another application of silane-treated, water-based coatings is in the printing sector, as they are odorless and environment-friendly.

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Across the world, the silane market in Asia-Pacific (APAC) is the largest as well as the most rapidly progressing. This is owing to the surging consumption of silane-containing products in countries such as Japan, Indonesia, India, and China, which are witnessing robust economic growth. Within the region, paints and coatings has been the largest application area of the organic compound, and the situation is predicted to continue being the same till 2023, on account of the expanding construction and automobile domains.

Therefore, with the rising need for residential, transportation, and commercial infrastructure, especially in APAC, the consumption of silane will keep increasing in the coming years.

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This release was published on openPR.