What are the emerging technologies for the development of Silane Market ?
The expanding automotive and construction domains are contributing to the growth of the silane sector. Advantages of silane include UV resistance, chemical and water resistance, and superior adhesion. The limitations of conventional paints and coatings are overcome using silane, as it acts as a pigment-treating, crosslinking agent, and adhesion promoter. This is why the automotive and construction domains are preferring silane-treated paints and coatings over traditional ones.
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Water-based coatings are increasingly being bought by end users as these last longer in poorly ventilated areas and confined spaces and also because of their environmental-friendly nature, which is why these are preferred in the printing domain. Apart from paints and coatings, silane is also used extensively in the production of rubber that is used in manufacturing tires. Silane-fortified rubber offers reduced fuel consumption, and superior traction and longevity. Therefore, the silane sector is expected to grow owing to the increasing use of silane-based products in various end-use domains.
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.
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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.
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.