May 08, 2020
As per the report titled ‘Silanes Market Size By Type, By Applications Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024’, available with Market Study Report LLC, global silanes market is projected to cross USD 3.9 billion by the year 2024.
Widespread use of silanes in the polymer industry in the form of fillers to impart strength, resistance to external forces, and flexibility is driving the growth of global silanes market. Surging demand for consumer electronics in tandem with extensive product use in manufacturing of electronic components such as silicones, photovoltaic cells, circuit boards, electronic chips, and LEDs is augmenting the market growth.
On the contrary, inclination towards paper based or bio-based packaging materials as compared to polymer packaging materials due the latter’s adverse environmental impact will hinder the industry growth during the forecast period.
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Based on the type, organofunctional silanes segment accounted for 60% market share in 2017.These compounds contain silicon-carbon bond, which is preferable for improving the adhesive properties of organic and inorganic substrate in a matrix, hence, are used in the production of paints & coatings, fillers & pigments, sol-gel system, adhesives, and sealants. High demand for the aforementioned products across various industries including rubber, automotive, plastic, electronics, energy, and construction will continue to stimulate the organofunctional silanes market share.
Speaking of the application spectrum, fillers & pigments segment is estimated to witness a y-o-y growth rate of 7.5% through 2024. Silanes form permanent bonds and serve as a medium between organic and inorganic substrates which aid in improving and developing new functionalities. The product is used in clay, kaolin, talc, mica, and quartz which are recording surging demand as fillers in rubber and thermoplastic industry, hence supporting the segment growth.
Considering the regional outlook, Europe silanes market attained 25% market share in 2017 and is projected to witness significant gains through 2024. The growth can be credited to strong product demand owing to growing automotive industry and increasing number of restructuring & renovating activities in the region.
North America silanes market is also reckoned to see substantial growth in the ensuing years due the strong growth of electronics industry supported by continuous R&D activities in the region. High demand for silanes for production of silicones which are subsequently used in manufacturing semiconductors will foster the industry growth in North America throughout the analysis period.
Prominent industry players include ONICHEM, Evonik Industries AG, Nanjing Union Silicon Chemical Co., Ltd., Dow Corning, Momentive Performance Materials Holdings Inc., Qufu Chenguang Chemical Co. Ltd., Gantrade Corp., GELEST, INC., Air Liquide, Silar, Shin-Etsu Chemical Co., Ltd., Shandong Wanda Organosilicon New Material Co., Ltd., Tokyo Chemical Industry Co., Ltd., and Chengdu Taiyu Industrial Gases Co., Ltd.