Global silanes market is worth $1,466 million in 2016. By 2023, global silanes market is anticipated to reach $2,132 million, growing at CAGR 5.5% during period 2016-2023. Silanes are building blocks of silicon chemistry with four hydrogen atoms attached to silicon atom. Building protection, photovoltaics, plastics, pharmaceuticals, coatings, and adhesives are some of the notable applications of silanes. Asia Pacific is the fastest growing silanes market for the forecasted period. Expanding rubber and plastic products, growing automobile industry and consumer goods market, and thriving construction & infrastructure sector are the main driving factors silanes market in Asia Pacific. China, India, Australia, and Japan, are the lucrative investment destinations of silanes market in Asia Pacific for the forecast period 2016-2023. North America dominates global silanes market, in terms of revenue followed by Europe and Asia Pacific. Expanding electronics market, growing automobile industry, expanding rubber and plastics market are the main factors aiding silanes market growth in North America. USA dominates North American silanes market followed by Canada. In Europe, Germany, Spain, Italy, Sweden, and Netherland are lucrative investment destinations for silanes market. Other lucrative silanes markets are Nigeria, South Africa, Nigeria, Saudi Arabia, Egypt, Brazil, and Argentina.
Global silanes market is segmented on the basis of types and applications. By types, silanes market is further segmented into functional and mono/chloro. Functional silanes segment is further sub segmented into sulphur silanes, vinyl silanes, amino silanes, alkyl silanes and other functional silanes. Application segment is further sub segmented into rubber & plastics, fiber treatment, adhesives & sealants, paint & coatings, and other applications.
Growing automobile industry, increasing investments in building & infrastructure sector, demand for water based coating formulation, demand for rubber & plastics, applications in pharmaceutical & cosmetics sector and emerging economies are the key drivers of global silanes market. Low growth in European economies, growing demand for paper packaging materials, and high production cost are amongst the challenges impacting silanes market growth for the forecast period 2016-2023.
Evonilk Industries., Shin-Etsu Chemical Co Ltd., DOW Corning Corporation., WD Silicone Co Ltd., and Gelest Inc are amongst the leading companies in silanes market around the world. Merger & acquisition and partnerships are the primary strategy used by majority of the enterprises in silanes market to acquired market share. On March 2017, Evonik Industries along with Forward Engineering established joint venture agreement with VESTARO GmBH. The deal is aimed at implementing composite solutions for mass production of fiber composite components for automotive industry. Shin-Etsu Chemical Co Ltd., on 2015, plans to invest more than $180million over a period of next three years to expand its silicone manufacturing facility in Japan. Other strategies include joint venture, MoU, collaboration, and partnership.