The report “Silanes Market by Type (Functional Silanes (Sulfur, Vinyl, Amino, Epoxy, Methacryloxy), Application (Rubber & Plastics, Fiber Treatment, Adhesives & Sealants, Paints & Coatings)), and Region – Global Forecast to 2021”, published by MarketsandMarkets, the global market was valued at USD 1.39 Billion in 2015 and is projected to reach USD 1.83 Billion by 2021, at a CAGR of 5.7% from 2016 to 2020.
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The market is driven by the increasing focus on fuel efficiency and regulatory compliances, growing automotive and building & construction industries, and rising demand for water-based coating formulations.
The rubber & plastics segment is estimated to be the largest application segment of the global silanes market .
Rubber & plastics was the largest application segment of silanes in 2015, backed by the growth of the automotive and consumer goods industries. The increasing awareness about green tires, as a result of stringent regulations on fuel efficiency, demand for original equipment sales, replacement of tires, and development of environment-friendly coatings along with the growing economies of China, India, and the U.S. are driving rubber & plastics market.
The mono/chloro silane segment is projected to be the fastest-growing type segment of the global silanes market .
Based on type, the mono/chloro silane segment is projected to grow at the highest CAGR between 2016 and 2021. Mono/chloro silanes are primarily used in electrical & electronics, integrated circuits, photovoltaics, and flat panel displays. These are also used as protecting agents for intermediates in pharmaceutical syntheses and synthesis of silanes and siloxanes. The growing electronics & electrical and flat panel displays industries and increasing focus on solar as renewable energy in developing countries are expected to drive this segment in the next five years.
Rising demand for silanes in Asia-Pacific contributes to the high growth of silanes market .
Asia-Pacific accounted for the largest share of the Silanes Market, in terms of value, in 2015, as it is the largest market for applications of silanes, such as rubber & plastics, adhesives & sealants, and paints & coatings. China, India, and Japan are projected to be the leading automotive markets by 2021. Therefore, automotive sales are likely to increase the need for silanes in rubber & plastics, glass fiber composites, and paints & coatings industries in the next five years. Asia-Pacific is expected to continue its dominance in the market till 2021.
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