DELRAY BEACH, Fla., Oct. 15, 2024 /PRNewswire/ -- The report "Silanes Market by Type (Functional Silanes & Mono/Chloro Silanes), Application (Rubber & Plastic, Fiber Treatment, Adhesive & Sealants, Paints & Coatings) End-Use (Building & Constructions, Electrical & Electronics, Automotive) - Global Forecast to 2029", The global silanes market size is projected to grow from USD 3.62 billion in 2024 to USD 5.20 billion by 2029, at a CAGR of 7.5% during the forecast period. The silanes market is driven by the due to its multiple applications in end-use industries such as building & construction, electrical & electronics, automotive, and others. However, the market faces restraints from VOC emission during silane production. Opportunities lie in the Emerging applications in the pharmaceuticals and cosmetics industries. The challenges include high cost of production.
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475 - Tables
51 - Figures
327 - Pages
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The functional silanes segment projected to be fastest fastest-growing segment in the global silanes market during the forecast period
Various properties of functional silanes, owing to their additives, are making them useful in many end-use industries, thus gaining the largest share in the silanes market Functional silanes are used in rubber & plastics, fiber treatment, adhesives & sealants, and paint & coatings applications. The growing end-use industries such as automotive and building & construction are expected to drive the market. The increasing automotive sales in China and India and the recovering demand in the US are also likely to drive the market.
Rubber & plastics accounts for largest segment in the silanes market
The application in Rubber & plastics is projected to capture the largest share of the silanes market, driven by increasing awareness about green tires, as a result of stringent regulations on fuel efficiency, and development of environment-friendly coatings. Additionally, the rapidly growing automotive industry in the developing markets, along with the increasing use of wire & cables, is driving the demand for silanes in this segment.
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Automotive sector accounts for largest segment in the silanes market
Silane coupling agents have a wide range of applications in the automotive industry, such as automotive coatings, car windshields and roofs, airbags, automotive electronic coatings, and car foam isolation. In addition, silanes are used in the production of cutting-edge, high-performance green tires. The increasing focus on fuel efficiency, safety, and sustainability is driving the demand for silanes in the automotive industry. Their ability to improve tire performance, reduce emissions, and enhance manufacturing efficiency makes them an essential component in modern vehicle production.
Asia Pacific region is the largest market for silanes
The Asia Pacific region is projected to lead the silanes market growth, driven by rapid urbanization and infrastructure development in countries like China, India, and Japan. As these nations heavily invest in new cities, highways, railways, and public works, the demand for silanes is expected to grow in forecast period. Additionally, the growing middle class and rising disposable incomes are fueling residential and commercial construction, further boosting the need for silanes for various applications in construction process. The Asia Pacific's commitment to modernization and economic growth positions the region for significant expansion in the silanes market.
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Key Players
Evonik Industries AG (Germany), Shin-Etsu chemical Co., LTD. (Japan), KCC Corporation (South Korea), Dow (US), and Wacker Chemie AG (Germany), Gelest, Inc. (US), WD Silicon Co., LTD (China), Nanjing Shuguang Chemical Group Co., Ltd. (China) and others are the key players operating in the silanes market. Expansions, acquisitions, and deals are some of the major strategies adopted by these key players to enhance their positions in the silanes market.
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