The Global Silane and Silicone Market is valued at US$ 16,175.25 Mn in 2019 and is expected to grow at a CAGR of 5.97% over the forecast period to reach US$ XX Mn by 2027.
Growth of the various end-use industries such as electronics, cosmetics, automotive and construction are the major factors responsible for boosting the global Silane and Silicone market. Moreover, development of new products and services and the rising demand for Silane and Silicone in emerging economies are the factors that are likely to create lucrative growth opportunities for the market in the near future.
Asia pacific holds the largest share in the global market, and its growth can be attributed to the growing construction industry, steady rising of electronics export, strengthening industrialization linked with established automotive industry and developing economies such as China, and South Korea.
However, the strict regulations regarding the usage of environmentally friendly materials and products in various end-use industries may hinder the growth of the global Silane and Silicone market.
Market Dynamics
Drivers
- Increasing demand from end user industries
- Growing demand of silane-treated water-based coatings
- Growing solar energy industry
Restraints
- Adverse effects of silane and silicone
- Issues related with procurement of raw material
Increasing demand from end user industries
Increasing usage of silicones and silanes in the building and construction industry, rising demand for silicones and silanes from the automotive industry and the growth of the biomedical and electronics industry are the major factors responsible for the growth of the global silicones and silanes market.
The growth of the building and construction industry is the primary driving factor attributing to the growing demand for silicones and silanes products. Silicone sealants are used in the construction industry to ensure important structural materials stay in place. Silicon adhesives and structural silicone glazing are majorly employed to protect and maintain the long-term quality and appearance of a building. Silicone products are also used in restoring historical buildings and monuments. Silicone additives can also help reduce the overall energy consumption of the building by using these additives as insulating materials. Thus, growth in the construction sector is expected to boost the global silane and silicone market.
For instance, according to the World Bank estimates the global expenditure from the construction industry is expected to reach USD 14 trillion by 2025. Also, according to a research survey by Oxford Economics, the volume of the global construction output is expected to grow by 85% to USD 15.5 trillion by 2030. Owing to these factors, the global silicone, and silane market is anticipated to witness healthy growth in the future.
Geographical Analysis
The Middle East & Africa Silane and Silicone Market is valued at USD 955.96 Mn in 2019 and is estimated to grow at a CAGR of 7.50% over the forecast period to reach USD XX Mn by 2027. Middle East & Africa holds 5.9% of market share in 2019, and is expected to be 6.6% by 2027, for Global Silane and Silicone Market. The collective revenue of the Silane and Silicone market by Middle East & Africa is expected to generate USD XX Mn from 2020-2027. The Middle East market is expected to show growth owing to the increasing public and private investments in the construction sector of the emerging economies of the region. For instance, GCC (Gulf Cooperation Council) countries have long-term strategies of development projects that focus on social infrastructure, transportation, and tourism. Saudi Arabia’s active endeavour to upgrade its transport infrastructure (eg. rail, port, airport), and develop better leisure and healthcare facilities as well as its colossal projects such as The Red Sea Project, Neom, the Maritime City, and the Qiddiya Entertainment City are anticipated to give Saudi Arabia the most proactive construction segment, in turn driving demand for Silane and Silicone.
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