According to a new report published by Allied Market Research, titled,"Silane and Silicone Market, by Type, and End-User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025",The Silane and Silicone market accounted for revenue of $ 14,479.0 million in 2017, and is anticipated to generate revenue of $ 22,030.3 million in 2025.
Silicones are polymers, which comprise silicon along with carbon, oxygen, and hydrogen. The silicon and oxygen bond in silicones is the key reason due to which it offers resistance to weathering and many chemicals. Silicones are one of the versatile polymers, as they offer numerous properties, which make them the ideal choice across various end-user industries. On the other hand, silanes are colorless chemical compounds, which consist of silicon and hydrogen that exhibit superior reducing properties. Silanes are widely used as coupling agents, due to their ability to form durable bond between organic and inorganic materials.
The market is poised to grow at a CAGR of 5.4% from 2018 to 2025, due to development of the automobile & construction industries. In addition, efficient and sustainable properties of silicone are projected to drive its demand across various end-use industries. Moreover, increase in raw material and energy prices along with rise in need of sustainable packaging materials are the factors expected to restrain the growth of the silicones & silanes market. Furthermore, significant growth in electronics & semiconductor manufacturing in the Asia-Pacific region is anticipated to offer lucrative growth opportunities for the market during the forecast period.
In the type segment, Silicones occupied a share of 87.6% in the global market in 2017, where the silanes segment had lesser share, owing to its lesser consumption for end-use applications.
In the end-user segment, the building and construction segment occupied a share of 36.6% in 2017 and is anticipated to grow at a CAGR of 5.4%. This has attributed to high demand of silicones in construction industry due to its excellent bonding nature. The building & construction is expected to grow at a CAGR of 5.4% during the forecast period.
Asia-Pacific occupied a share of 45.3% in 2017 and is anticipated to grow at a CAGR of 4.0%. Flourishing construction industry, consistently rising electronics export, developing economic status and strengthening industrialization linked with established automotive industry are some of the key factors driving the growth of Asia-Pacific market.
Key Findings of theSilane and Silicone Market:
- The Asia-Pacific Silane and Silicone dominated market and is projected to grow at a highest CAGR of nearly 5.4%, in terms of revenue, during the forecast period
- The European Silane and Silicone market is anticipated to witness moderate growth rate of 6.0%, in terms of revenue, during the forecast period
- North America Silane and Silicone market with a revenue share of over 36.9% in 2017
In 2017, Asia-Pacific held the dominant market share in the global technical textile market, in terms of revenue. China is the one of the leading manufacturers as considered for automotive, correspondingly more usage of technical textiles. In addition, favorable investment policies and government initiatives to promote technical textiles growth in developing economies such as India and China, will further fuel the market growth in this region. Additional key factors that fuel the technical textile market include the growth in public infrastructure development, healthcare sector, and rapid urbanization.
Some of the major players operating in the Silane and Silicone industry include DowDuPont, Ahlstrom Corporation, Johns Manville, GSE Environmental Inc., Royal Ten Cate, Freudenberg & Co., Proctor and Gamble, 3M, Huesker Synthetic GmbH, and Hindoostan Mills. Some other players in the global technical textile market include Low & Bonar, Lanxess, and Berry Global Group. Some of the significant strategies undertaken by the key players include, acquisition, product launch, and others. For instance, Ahlstrom Corporation acquired Munksjo in November 2016, to expand its business in the technical textile market.