September 20, 2019
Worldwide silanes market is projected to surpass USD 3.9 billion by the year 2024, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2024.
Silanes is used in manufacturing electronic parts such as photovoltaic cells, circuit boards, electronic chips, LEDs etc. It is also used in polymer industry in the form of fillers to impart flexibility, strength, and to resist external influences. Extensive use of silanes across various applications has led to an increase in the demand of product, thereby augmenting the market outlook.
Based on type, silanes market from organofunctional silanes segment held 60% share in 2017. The product has silicon-carbon bond and is preferred to improve the adhesive characteristics of organic and inorganic substrate in matrix. They are mainly used in different end-use sectors such as energy, electronics, plastic, rubber, automotive, and construction.
According to the application spectrum, silanes market from fillers & pigments segment is presumed to experience profits of nearly 7.5% by the year 2024. The product is used in clay, mica, kaolin, talc, and quartz that are utilized as fillers in rubber and thermoplastic industries.
Considering the regional landscape, Europe held over 25% share of the global silanes market in 2017. The regional growth is attributed to the product demand from automotive industry, remodeling and restructuring construction activities, in the form of sealants, pigments, fillers, coatings, paints, and adhesives.
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Moreover, North America silanes market is presumed to grow substantially over the forecast period, owing to booming electronic industry in the region. The product is used in silicone production, which is further used for producing semiconductors. Ongoing R&D activities, evolving technologies and outstanding technical expertise will contribute towards the regional market growth.
Th key players operating in the silanes market are Evonik Industries, Dow Corning, Tokyo Chemical, ONICHEM, Gantrade Corporation, Momentive Performance Materials, and Air Liquide among others.