Silane Market Size to Reach $2,047 Million by 2023
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NEW YORK, May 21, 2018 (GLOBE NEWSWIRE) -- According to the new market research report published by P&S Market Research, the silane market is projected to reach $2,047.0 million by 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. Silane is an inorganic compound with four substituent groups that are attached to the central silicon atom. In the field of chemistry, it is denoted by the formula SiH4.
On the basis of product, amino silane held the largest volume share, accounting for more than 25.0%, in the silane market in 2017. The chemical is used as a coupling agent, an adhesion promoter, a resin additive, and a surface modifier. It is considered a stable compound and also helps in improving the chemical bonding of resins in reinforcing materials and inorganic fillers. The chemical reacts well with water and is therefore widely used in the paint and coating industry. Such advantageous properties of the chemical support its high demand in the market.
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Paints and coatings dominated the silane market in 2017, with more than 30.0% volume share. Silane is widely used as a raw material in the production of anti-corrosion coatings. These coatings are used in buildings, automobiles, industrial machinery, and electronics. Hence, the growing usage of paints and coatings in these industries is expected to boost the silane market growth in the coming years.
Globally, APAC held the largest share in the silane market during the historical period, contributing more than 50.0% share in terms of volume in 2017. The market in the region is expected to grow at a significant rate in the coming years, on account of the presence of fast-growing economies such as China, India, and Japan, which are generating high demand for the chemical for the manufacturing of paints and coatings, and rubber and plastics. The silane market in the region is also expected to grow on account of the increased demand for the chemical in the automotive and construction industries.
Browse report overview with 149 tables and 47 figures spread through 160 pages and detailed TOC on "Silane Market" at: https://www.psmarketresearch.com/market-analy...nes-market
Countries such as China, India, and Indonesia have witnessed rapid economic transformation in the past few decades. The rising standard of living in these developing countries is well complemented by the growth of construction and automotive industries. Since these industries are major end users of paints and coatings, they contribute to the demand for silane, as it is a key raw material used in the production of paints and coatings. Hence, developing countries are offering ample growth opportunities to the players in the silane market.
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.
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