Global silicone and silane market forecast at $27 billion by 2030
Kolkata, India – The Global Silicone and Silane Market size is estimated to be USD 15.98 billion in 2019 and is predicted to reach USD 27.62 billion by 2030 with a CAGR of 5.1% from 2020-2030 according to Next Move Strategy Consulting. Silicone is a polymer consist of hydrogen, carbon and other chemicals and used as resin, grease, oil and other in various industries such as automobile, construction, medical, electronics and others. Silane is an organic compound consists of multiple or single silicon carbon bond and it is produced by reaction of silica sand with magnesium in the presence of hydrochloric acid. Silane helps in the binding of two compounds together in different industries.
There has been increase in the industrialization in the developing region over the forecast period. Furthermore, increase in technological advancement and presence of developed infrastructure and wide application in different industries are expected to contribute the growth of silicone and silane market.
The other factors include increased adoption of paints, coating, sealants, rubber, adhesives and other for various purposes with high stability at maximum temperature and insulation are also expected to drive the market growth. However, unstable prices of raw materials are expected to inhibit the growth of silicone and silane market. Moreover, increased demand of electronics and semiconductors coupled with untapped opportunities from the various sectors are expected to create ample opportunities in the silicone and silane market over the forecast period.
The global silicone and silane market share is analyzed on the basis of type, end user and geography. On the basis of type, the market is segmented into silicone and silane. The silicones are sub segmented into elastomers, fluids, resins, gels, conformal coatings and others. The elastomers are further classified into High Temperature Vulcanized, Liquid Silicone Rubber, and Room Temperature Vulcanized. The fluids are further segmented into Straight Silicone Fluid and Modified Silicone Fluid. The resins are further categorized into Methyl Silicone Resin, Phenyl Silicone Resin, and Others. On the basis of end user, the market is divided into Building & Construction, Transportation, Electronics, Medical, Textile & Leather, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America is expected to hold the major market share over the forecast period owing to the increased adoption of silicon and silane. Furthermore, increase in industries coupled with technological advancement and presence of developed infrastructure is also expected to fuel the growth of silicone and silane market.
Asia Pacific is expected to show tremendous growth with consistent increase in market share owing to the increase in industrialization coupled with wide application. Furthermore, increase demand of sealants, paints, adhesives, and other with high stability and insulation are also expected to support the growth of silicone and silane market in the near future.
The silicone and silane market, which is highly competitive, consists of various market players. Some of the major market players include BASF SE, ICM Products Inc., Kaneka Corporation., Emerald Performance Materials, Evonik Industries, Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd., China National Bluestar (Group) Co, Ltd. and DowDupont, among others.
In the recent past there have been various developments taken place in the market and also expected to takes place in near future which are further expected to enhance the overall market growth. For instance, in December 2019, WACKER has launch two anti-misting silicone release coatings for high-speed coaters. DEHESIVE 982 AMA offers fast curing, stable release properties and allows good coverage. It is a universal product for both paper and filmic substrates. DEHESIVE 276 AMA which is designed for paper coating features a flat release profile. It cures with low amounts of platinum and therefore provides high cost performance for manufacturers. Another WACKER highlight during the launch is DEHESIVE PSA 845R, a silicone press-sensitive adhesive. With high adhesion, rapid curing properties and good stability, the product is ideal for production of protective films for electronic products and high-temperature tapes.