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Expanding Construction Sector Fueling Silane Market Growth

11-26-2021 11:03 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Intelligence

Expanding Construction Sector Fueling Silane Market Growth

The mushrooming requirement for silane in the paints and coatings industry is fueling its sales across the world. Silane exhibits high resistance to chemicals, ultraviolet (UV) rays, and water and provides excellent adhesion, which makes it ideal for use in paints. Owing to this factor, the soaring requirement for paints and coatings, on account of the surging automobile manufacturing, especially in countries, such as Thailand, Malaysia, Brazil, Indonesia, and India, is positively impacting the worldwide demand for silane.

According to the India Brand Equity Foundation (IBEF), the production of automobiles in India surged at a CAGR of 2.36% from FY2016 to FY2020, with the country witnessing the manufacturing of 26.36 million automobiles in FY20. Furthermore, the organization reported that the sales of automobiles grew in the country at a CAGR of 1.29% from FY16 to FY20, with the sales of automobiles reaching 21.55 million in the country in FY20.

Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/silanes-market/report-sample

Since silane is used as a raw material in the production of paints for automobiles and buildings, the expansion of the automotive and construction industries is causing a sharp rise in its demand across the globe. As a result of these factors, the revenue of the silane market is expected to rise from $1,577.9 million in 2017 to $2,047.0 million by 2023. Alkyl, amino, sulfur, epoxy, vinyl, mono/chloro, and methacrylate are the most widely used silane products across the world.

Out of these, the demand for mono/chloro silane was found to be the highest in the years gone by. This was because of its extensive utilization in the production of ultrapure silicon, which is heavily used in the semiconductor industry. Additionally, mono/chloro silane is also extensively used as a coating for glass and silicon surfaces and also in the production of various silicone polymers. Rubber & plastics, paints and coatings, adhesives and sealants, and fiber treatment are the major application areas of silane.

This is credited to the soaring requirement for silane in the production of adhesives and sealants, rubber and plastics, and paints and coatings in the region. In addition, the construction industry in the region is booming, due to the hefty investments being made by the governments of the regional countries for providing affordable housing to all citizens, which is also fueling the sales of silane. Some of the major silane producing companies across the world are Wacker Chemie AG, Gelest Inc., DowDuPont Inc., NEOCHEMA GmbH, and Shin-Etsu Chemical Co. Ltd.

Browse full report at: https://www.psmarketresearch.com/market-analysis/silanes-market

Hence, the demand for silane will shoot up across the world in the coming years, mainly because of the surging requirement for paints and coatings in the construction and automotive industries.

Contact:
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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