Sales of Silane To Surge in Asia-Pacific in Near Future

The mushrooming requirement for silane in the paints and coatings industry is fueling its sales across the world. Silane exhibits high resistance to chemicals, ultraviolet (UV) rays, and water and provides excellent adhesion, which makes it ideal for use in paints. Owing to this factor, the soaring requirement for paints and coatings, on account of the surging automobile manufacturing, especially in countries, such as Thailand, Malaysia, Brazil, Indonesia, and India, is positively impacting the worldwide demand for silane.

According to the India Brand Equity Foundation (IBEF), the production of automobiles in India surged at a CAGR of 2.36% from FY2016 to FY2020, with the country witnessing the manufacturing of 26.36 million automobiles in FY20. Furthermore, the organization reported that the sales of automobiles grew in the country at a CAGR of 1.29% from FY16 to FY20, with the sales of automobiles reaching 21.55 million in the country in FY20.

Apart from the surge in the automotive industry, the increasing construction and infrastructure development activities in several countries is also expected to fuel the silane market at a CAGR of 4.3% from 2018 to 2023. With the soaring population level, especially in urban areas, and growing disposable income and improving living standards of people, the demand for better and more modern civic infrastructure and transportation and housing facilities is rising.

Since silane is used as a raw material in the production of paints for automobiles and buildings, the expansion of the automotive and construction industries is causing a sharp rise in its demand across the globe. As a result of these factors, the revenue of the silane market is expected to rise from $1,577.9 million in 2017 to $2,047.0 million by 2023. Alkyl, amino, sulfur, epoxy, vinyl, mono/chloro, and methacrylate are the most widely used silane products across the world.

Hence, the demand for silane will shoot up across the world in the coming years, mainly because of the surging requirement for paints and coatings in the construction and automotive industries.