Global Silane Market Analysis, 2013-2023
Silane is a colorless compound with smell equivalent to that of acetic acid. It is an inorganic pyrophoric gas. It is prepared from metallurgical silicon via a two-step process. It is also commercially produced through the reaction of hydrogen chloride and magnesium silicide.
Silane has a wide range of applications in different sectors. It is used in paint and coatings industry on a large extent to prevent corrosion of metals and other surfaces. It is also used in adhesive and sealants for the same purpose. Rubber, plastics and fiber treatment sectors also use silane on a large scale. Other sectors which use silane on a large scale include automotive, aircraft and marine industry. Most of the decorative coatings use this material to prevent them from corroding or rusting. These are the key applications of silane in different sectors.
The global silane market report shed light on the current market conditions by holding over 280 hours of primary and secondary research. As per the report, the global silane market is increasing its geographical boundaries rapidly. The global silane market is valued at US $ xxx million dollars in 2018 which is anticipated to hit US $ xxx million dollars by the end of 2023 growing at a CAGR of xx% during 2018-2023.
The major factors that play a role in the growth of the market include the key applications of silane. The substance is used in various sectors such as automobile, aeronautic and marine industry on a large scale, which led to the increasing demand for the product. Other industries such as paint, coatings, sealants, and adhesives also require the product for protecting surfaces from rusting and redox reactions. The major industries that play a key role in increasing the market value of the substance include rubber, plastics, fiber treatment, and decorative coating sectors.
Even though the product has various advantages and usage in the real world. There are some factors that may impede the growth of the market. The silane compound is poisonous gas. The smell of the gas is extremely strong which could irate the skin, eyes, mouth, and nose on inhalation. Large amounts could be very toxic to human life. The substance is also highly flammable, hence must be handled very carefully in the outside environment.
The silane market is widely distributed in regions including North America, South America, Western Europe, Eastern Europe, the Asia Pacific, the Middle East and Africa, and the rest of the world. The silane market is expected to grow rapidly in North America followed by other countries in the coming years.
The crucial market players in the silane market include Evonik Industries, Dow Chemical Company, Wacker Chemie AG, Nitrochemie Aschau Gmbh and Shin-Etsu Chemical Co. Ltd.
The research method includes the global silane market segmentation, growth factors identification of each market segment and conducting market forecast. The market forecasts are conducted based on the insights given by the business leaders from across the Global Silane industry value chain. Market Krystal conducted over 36 interviews for this study, the details of the same are mentioned below: