The growing demand for paint and coatings is expected to spur growth opportunities for the market during the forecast period, states Fortune Business Insights in a report, titled “Silane Market Size, Share & Industry Analysis, By Type(Organo-functional Silane, Mono/Chloro Silane), By Function (Coupling agents, Adhesion promoters, Hydrophobing and dispersing agents, Moisture scavengers, Silicate stabilizers), By Application (Fiberglass, Plastic & Composites, Paints & Coatings, Inks, Adhesive & Sealants, Others) Others and Regional Forecast, 2022-2029” the surge in the construction industry is expected to enable speedy expansion of the market.
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Heavy Demand from Automotive Industry to Aid Expansion
The increasing demand for paints & coatings in the construction industry is likely to foster healthy growth of the market. The flourishing building & construction industry is expected to bolster the healthy growth of the market in the forthcoming years. The growing acquisitions and partnerships among major companies are expected to create lucrative sales opportunities for the market in the foreseeable future. For instance, in January 2017, Momentive Performance Materials Inc announced that it has acquired Sea Lion Technology’s operating assets in Texas City, Texas. The new contract of the chemical manufacturer Sea Lion will allow the manufacturing of silane products for Momentive including silanes sold under Momentive’s NXT brand. Sea Lion will continue to manufacture NXT silane as an integrated part of Momentive’s global supply chain and will join the company’s 24 other manufacturing facilities around the world.
However, the high price of raw materials used for the production of silane is expected to hamper the growth of the market. The volatile prices of raw materials are predicted to act as a barrier to the expansion of the market.
Geographically, the silane market is divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is predicted to dominate the global market due to the rising demand from the construction industry in China and India. The increasing demand for paints & coatings is likely to aid expansion in the region. The market in North America is predicted to witness a substantial growth rate during the forecast period. Europe is expected to account for a significant share due to the rising demand for fuel-efficient cars with low CO2 emissions. The increasing demand for composite-based cars is expected to enable speedy expansion of the market in the forthcoming years. The market in Middle East & Africa is expected to witness a high growth rate in the forthcoming years due to the growing demand for paints & coatings in the region. The market in Latin America is expected to witness a low growth rate due to the lack of commercialization and urbanization. The lack of building & construction activities is expected to restrict the growth in the region.
July 2019: Gelest Inc., announced the acquisition of Bimax, a leading manufacturer and marketer of high purity methacrylate and specialty monomers of Pennsylvania, USA.
The Report Lists the Main Companies in the Silane Market:
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