Tremendous Growth Expected in Global Silane Market in Coming Years

Silane is an inorganic compound, specifically a pyrophoric, colorless, toxic gas with a repulsive smell, which acts as a precursor to silicon element. Moreover, it has the ability to offer excellent resistance to chemicals, ultraviolet (UV) rays, and water and outstanding adhesion, which make it suitable as an ingredient for paints. Thus, the need for silane has been increasing in recent times in the paints and coatings industry.

Moreover, the requirement for paints and coatings is itself increasing across the world primarily due to the surging production of automobiles in emerging economies, such as India, Brazil, Indonesia, Thailand, and Malaysia. Therefore, the silane market is projected to grow at a CAGR of 4.3% during 2018–2023. According to P&S Intelligence, the market is expected to generate $2,047.0 million revenue in 2023 as compared to $1,577.9 million in 2017.

Additionally, with the rising disposable income of people, their living standard is increasing, which has expressively improved the construction sector in emerging economies across the world. Furthermore, the growing population has increased the demand for better civic infrastructure, transportation facilities, and housing. This drives the production of paints for automobiles and buildings, where silane is required in high volumes as a raw material. Therefore, with the growth in end-use industries, the demand for silane is projected to increase during the forecast period.

Since vehicle production and construction activities are the widest in the Asia-Pacific (APAC) region, it led the silane market in the past, and it is expected to witness the same trend in the foreseeable future. This can be ascribed to the high-volume application of the gas in the manufacturing of paints and coatings, adhesives and sealants, and rubber and plastics. In addition, the construction sector in APAC is observing significant growth due to the heavy investments by the governments of the regional countries to deliver affordable housing, which, in turn, boosts the demand for silane.

Thus, the burgeoning consumption of paints and coatings and growing construction sector will propel the adoption of silane in the coming years.

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