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Silane Market Overview
The global silane market valued $1,577.9 million in 2017 and is projected to witness a CAGR of 4.3% during 2018–2023. The market is anticipated to grow on account of the increasing demand for the chemical from end users such as the automotive and construction industries.
GLOBAL SILANE MARKET, BY PRODUCT, MT (2013–2023)
On the basis of product, the global market has been categorized into alkyl, sulfur, amino, vinyl, epoxy, methacrylate, and mono/chloro silanes. In terms of volume, amino silane held the largest share, amounting to more than 25.0%, in the silane market in 2017. The dominant share of this chemical can be attributed its extensive usage in the production of rubber and plastics, and paints and coatings, which are also among its largest end-use industries.
Based on application, the silane market has been categorized into paints and coatings; rubber and plastics; adhesives and sealants; fiber treatment; and others. The “others” category includes electrical and energy products. Paints and coatings are expected to remain the largest application area in the silane market in the coming years. The chemical is widely used as a raw material in the production of anti-corrosion paints and coatings. These are further used in buildings, automobiles, industrial machinery, and electronics. Hence, the growing consumption of paints and coatings in various end-use industries is expected to boost the silane market during the forecast period.
Silane Market Dynamics
Silane is used in the manufacturing of paints and coatings, tires, and adhesives, which are the key raw materials used in automobile production. It is used as a coupling agent in tire manufacturing and helps improve the rolling and abrasion resistance and compound strength of the rubber. Tires made from this rubber help reduce fuel consumption and exhibit superior traction and longevity, as in the case of carbon black tires. Thus, it can be concluded the growing automotive industry and the increasing use of products such as tires and paints are expected to drive the silane market growth in the coming years.
The silane market has undergone rapid consolidation through increased merger and acquisition activities in recent years. The growing number of mergers and acquisitions is resulting in the presence of less but more competent and technology-driven players in the market. For instance, in 2017, Momentive Performance Materials Inc. acquired Sea Lion Technology Inc. The acquisition helped the company expand its product line with the addition of Sea Lion Technology’s NXT silane to cater to the production needs of tire manufacturers. Thus, the growing number of mergers and acquisitions is expected to further consolidate the silane market.
Over the years, there has been an increase in the demand for silane-treated water-based coatings for the interior and exterior walls of buildings. Water-based coatings are also used in the printing industry because they are environment-friendly and odorless in nature. Water-based coatings offer various advantages over traditional varnishes, such as decreased application time and smoother texture and finish. Thus, the growing demand for water-based coatings is expected to boost the silane market in the coming years.
Countries such as China, India, and Indonesia have witnessed rapid economic transformation in the past few decades. With increasing population and income levels in these countries, there has been an increased demand for better infrastructure, housing, and transport. The rising standard of living is well complemented by the growth of construction and automotive industries in these countries. Since these industries are major end users of paints and coatings, they are offering ample growth opportunities to the players in the silane market.
Silane is widely used in adhesives and sealants that are required in packaging processes. However, since it is a hazardous chemical and can cause an adverse impact on the health of the industry personnel, safety standards need to be strictly followed during its usage. Because of this, there is a growing focus on the development of environment-friendly packaging materials that can serve as substitutes for silane-based packaging products. Thus, increasing health concerns, growing focus on waste management, and regulatory framework promoting the usage of environmental-friendly packaging products are the factors impeding the growth of the silane market.
Silane Market Competitive Landscape
Some of the major players operating in the global silane market are Gelest Inc., Shin-Etsu Chemical Co. Ltd., Evonik Industries AG, Wacker Chemie AG, Jingzhou Jianghan Fine Chemical Co. Ltd., Nanjing Shuguang Chemical Group Co. Ltd., NEOCHEMA GmbH, DowDuPont Inc., Hubei Wuda Organic Silicon New Material Co. Ltd., and SiSiB SILICONES.