Global Silane and Silicone Market 2019 Analysis (By Segment, Product And Applications) And Forecasts To 2026
PUNE, MAHARASHTRA, INDIA, October 15, 2019 /EINPresswire.com/ — Silane and Silicone Industry
Silanes are saturated chemical compounds consisting of one or multiple silicon atoms linked to each other or one or multiple atoms of other chemical elements as the tetrahedral centers of multiple single bonds. On the other hand, silicones are a diverse family of specialty, high-performance materials that include reactive silanes, silicone fluids, and silicone polymers, which are widely used in a variety of consumer and industrial products. These materials provide essential benefits in key segments of economical growth, including health care, aerospace, personal care, electronics, transportation, and construction. The global silane and silicone market size was worth USD 1788.24 million in 2018 and is estimated to reach USD 2934.56 million by 2026, at a CAGR of 6.49% during the forecast period.
Market Dynamics: Drivers, Restraints, Opportunities Challenges:
Increasing usage of silicones and silanes in the building and construction industry, rising demand for silicones and silanes from the automotive industry and the growth of the biomedical and electronics industry are the major factors responsible for the growth of the global silicones and silanes market. The growth of the building and construction industry is the primary driving factor attributing to the growing demand for silicones and silanes products. Silicone sealants are used in the construction industry to ensure important structural materials stay in place. Silicon adhesives and structural silicone glazing are majorly employed to protect and maintain the long-term quality and appearance of a building. Silicone products are also used in restoring historical buildings and monuments. Silicone additives can also help reduce the overall energy consumption of the building by using these additives as insulating materials. Thus, growth in the construction sector is expected to boost the global silane and silicone market.
For instance, according to the World Bank estimates the global expenditure from the construction industry is expected to reach USD 14 trillion by 2025. Also, according to a research survey by Oxford Economics, the volume of the global construction output is expected to grow by 85% to USD 15.5 trillion by 2030. Owing to these factors, the global silicone, and silane market is anticipated to witness healthy growth in the future.
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Global diamino market value in the global silane and silicone market was accounted for USD 275.21 million in 2018, and is expected to reach USD 471.61 million by 2026 at a CAGR of 7.10%. Global diamino market volume was 41.88 thousand tonnes in 2018 and is expected to reach 67.87 thousand tonnes by 2026 with a CAGR of 6.45% Diamino silane was accounted for largest value share of 15.4% in 2018 global silane and silicone market. Diamino silane market volume share was 14.6% in 2018 global silane and silicone market. Diamino-functional silane is capable of providing good adhesion and superior flexibility at the polymer-substrate interface. It is used to promote adhesion between glass, mineral and metal surfaces – reinforcements, fillers and substrates – and resins that react with amino groups in systems such as PVC plastisol, polyurethane, or epoxy-based adhesives and sealant, or in phenolic and epoxy molding compounds. Its reduced alkoxy functionality might also be useful in waterborne systems such as latex coatings, adhesives and sealants, providing lower reactivity and therefore higher stability in the aqueous environment.
Thus, growth in the demand from various applications is expected to drive the global silane market at a high pace over the forecast period. According to the Adhesives and Sealants Council, in 2014, the demand for adhesives and sealants in the Asia Pacific was 8.01 million metric tons and is expected to reach 10.6 million metric tons by 2019.
Automotive industry in the global silane and silicone market accounted for USD 1053.01 million in 2018, and is expected to reach USD 1702.27 million by 2026 at a CAGR of 6.19%. Market volume of automotive industry accounted for 81.39 thousand tonnes in 2018, and is expected to reach 111.58 thousand tonnes by 2026 at a CAGR of 4.09%. Automotive is accounted for market value share of 6.51% in 2018 global silane and silicone market. Automotive is accounted for market value share of 3.22% in 2018 global silane and silicone market. Silicones are used in various components within automobiles. The silicones products include silicone rubber, resins, sealants, elastomers, lubricants and plastic additives. Silicones are also used as coatings in air bags providing airtight seals, fabric strength and durability so that an airbag will function even after several years. They contribute to increased safety and reductions in road fatalities.
The silane and silicone market is highly concentrated owing to the presence of several international and regional vendors. Silane and Silicone manufacturers are offering products integrated with multiple features and advanced technologies. New product launches and expansion of facilities are some other vital strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate.
For instance, in March 2019, Dow duPont unveiled a new silicone skin adhesive which brought strong adhesion and extended wear, design and manufacturing flexibility and avoids skin irritation and discomfort commonly found in the removal of acrylic-based adhesives.
In November, 2018, DuPont transportation & advanced polymers is investing more than $80 million to build new manufacturing facility to produce compounded high-end engineering plastics and adhesives in Zhangjiagang, Jiangsu Province in East China.
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Source: EIN Presswire