PORTLAND, Oregon, March 7, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Silane and Silicone Market Forecast, By Silanes (Coupling Agents, Cross-linking Agents, and Others), Silicones (Elastomers, Fluids, Resins, Gels, Conformal Coatings, and Others), and End User (Building & Construction, Transportation, Electronics, Medical, Textile & Leather, and Others): Global Opportunity Analysis and Industry Forecast, 2018 – 2025." The report offers an all-inclusive analysis of key market players & their strategies, dynamic market trends, research methodology, major segments, top investment pockets, market size & estimations, and overall business landscape. As per the report, the global Silane and Silicone market was estimated at $14.4 billion in 2017 and is expected to hit $22.03 billion in 2025, registering a CAGR of 5.4% from 2018-2025.
Increase in demand for silicone across various end-user industries, rise in adoption of waterborne coatings and surge in need for coupling agents in polymers have fueled the growth of global silane and silicone market. On the other hand, soaring price of silicone based products has happened to curb the growth to some extent. Nevertheless, High growth in electronics & semiconductor manufacturing in Asia-Pacific has created a number of opportunities in the segment.
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Asia-Pacific to have the highest market share
By region, Asia-Pacific contributed to more than two-fifth of the total market share and is expected to grow at the CAGR of 4.5% from 2017-2025. High spending on infrastructural development, largest automotive manufacturing base in China, high production and export of electronics in Japan and growing economic status of the region are boosting the growth of the market.
Silicones to maintain its leadership status by 2025
Based on type, the silicones sector accounted for more than four-fifth of the total market in 2017 and came out as having the highest market share. Rise in infrastructure development projects and growth in construction & housing space where water repellent coatings, glass coating, epoxy and sealant coatings are widely used, have augmented the use of silicone in more than one way.
Medical to remain dominant throughout the forecast period
By end-user, medical industry contributed to nearly one-fifth of the total market. As an excellent adhesion promoter, silane has found wide application in medical industry. Silane coupling agent is used in dental restorative materials and that's how it has become one of the prime components utilized in dental treatments. Silicones has properties like hydrophobicity, thermal stability and chemical resistance that had led to escalate the demand of silicone in the industry. Especially, for manufacturing of heart pumps, defibrillators, suture sleeves, and over molded surgical blades, silicones are widely in use.
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Key market players
Key market players highlighted in the research are BASF SE, Kaneka Corporation., Evonik Industries, ICM Products Inc., DowDupont, Emerald Performance Materials, Wacker Chemie AG, MPM Holdings Inc., ICM Products Inc., China National Bluestar (Group) Co, Ltd., and Shin-Etsu Chemical Co., Ltd. Their strategic and tactical outlook towards the market has helped them maintain their top status.
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