With the surging requirement for paints and coatings, on account of the increasing construction and infrastructure development activities, the demand for silane is rising sharply across the globe. This is because silane is being increasing used in paints, owing to its ability to provide excellent adhesion and high resistance to chemicals and ultraviolet (UV) radiation. The improving standard of living of people and mushrooming population are fueling the need for better civic infrastructure, housing, and transportation systems, which is consequently encouraging the governments of many countries to invest heavily in construction and infrastructure development projects.
Additionally, the soaring automobile manufacturing in Thailand, Malaysia, Brazil, and India is also pushing up the demand for paints and coatings, which is, in turn, propelling the progress of the global silane market. Besides, the growing use of silane-treated and water-based coatings for building interiors is also predicted to fuel the market at a CAGR of 4.3% from 2018 to 2023. According to the estimates of the market research company, P&S Intelligence, the market value will reach $2,047.0 million by 2023.
Water-based coatings mitigate the chances of evaporation in closed spaces, which makes them ideal for use in railroad and storage tanks. These coatings provide various other advantages, such as high gloss, less drying time, and smoother finish than traditional varnishes. As silane is extensively used in the production of water-based coatings, the mushrooming use of these coatings is positively impacting the global sales of the compound. Amino, sulfur, alkyl, epoxy, vinyl, mono/chloro, and methacrylate are the most widely used types of silane products.
Geographically, the demand for silane was observed to be the highest in the Asia-Pacific (APAC) region in the past, and this trend is predicted to continue in the coming years as well. This is ascribed to the booming construction sector and automobile sales in the region. The governments of the regional countries are making huge investments in the construction sector in order to provide affordable housing and improved infrastructure to people.
Some of the major producers of silane across the globe are Shin-Etsu Chemical Co. Ltd., Wacker Chemie AG, Gelest Inc., and Evonik Industries AG. These players are actively focusing on various strategic activities in order to augment their revenue and gain an edge over their rivals. For example, Evonik Industries AG developed a new competence center for silane production at its Rheinfelden site in Germany in July 2016.
Thus, the demand for silane will soar in the coming years, on account of the increasing construction activities and automobile sales all over the world.