Silanes and Silicones Market Share Analysis
Examining the market dynamics in greater detail, silicones emerge as the dominant player, accounting for a substantial 90.38% market share in 2017. With a market value of USD 14,410.6 million, silicones established their position as the frontrunners in the silanes and silicones market. Projections indicate that silicones are poised to continue their robust growth trajectory, with the highest Compound Annual Growth Rate (CAGR) of 6.00% during the forecast period.
Silicones, known for their versatility and wide-ranging applications across various industries, play a pivotal role in shaping the market landscape. The flexibility, resistance to environmental factors, and adherence to stringent performance standards make silicones the material of choice in sectors such as healthcare, aerospace, personal care, electronics, construction, and transportation. As these industries continue to evolve and expand, the demand for silicones is expected to surge, driving the overall growth of the silanes and silicones market.
Silanes, while representing a smaller market share in comparison to silicones, remain a significant player, securing the second-largest position with a market value of USD 1,534.6 million in 2017. Projections indicate a steady growth trajectory for silanes, with a CAGR of 5.29%. The diverse applications of silanes, particularly in enhancing the properties of resins, fiberglass, and coatings, contribute to their sustained demand in the market.
The choice between silicones and silanes often depends on specific application requirements and the desired material properties. Silicones, with their exceptional flexibility and resistance to heat, moisture, chemicals, and UV radiation, find extensive use in critical applications. They are employed in the healthcare sector for various medical devices, in the aerospace industry for their high-performance characteristics, and in the construction industry for creating durable and weather-resistant materials.
Silanes, on the other hand, are valued for their role as modifiers and enhancers in composite materials. Their application in the production of ultrapure silicon for semiconductor manufacturing further solidifies their significance in advanced technologies. Silanes contribute to the improvement of wetting properties, compression strength, shear strength, and mechanical properties in resin-based materials, making them integral to industries relying on high-performance materials.
Delving into the market segmentation, it's noteworthy that the silicones market is fragmented, with DowDuPont commanding a significant 35% share, followed by Wacker Chemie AG and Momentive Performance Materials Inc. with respective shares of 17%. This distribution highlights the competitive landscape within the silicones segment, with major players driving innovation and setting industry standards.
The segmentation of the market based on type reveals a detailed breakdown of silanes, which include amino, alkyl, vinyl, sulfur, mono/chloro, epoxy, methacryloxy, and others. Each type serves specific purposes, contributing to the overall versatility of silanes in various applications. The mono/chloro silane segment, being the largest in 2017 with a 27.4% market share, is particularly noteworthy for its crucial role in semiconductor manufacturing. The amino silane segment, the second-largest, is expected to witness a CAGR of 6.08%, propelled by the increasing demand for enhancing chemical bonding in resins and reinforcing materials.
Application-based segmentation further delineates the market, with silane applications encompassing paints and coatings, adhesives and sealants, rubber and plastics, fiber treatment, and others. The paints and coatings segment, with a 31.3% market share in 2017, is anticipated to grow from USD 4,985.1 million to USD 7,369.2 million by 2023. This growth is attributed to the rising use of silanes in building and construction, industrial machinery, and electronics, driven by their superior properties such as resistance to UV, water, and chemicals, along with improved adhesion.
The silicone applications segment covers construction materials, transportation, industrial processing, consumer care, electronics, healthcare, energy, and others. The construction materials segment, holding around 31.4% of the market in 2017, is valued at USD 4,998.9 million and is expected to register a considerable CAGR of 7.06% during the forecast period. This growth is fueled by the increasing demand for waterproofing and flame-resistant materials in the growing residential and construction industry.
Geographical segmentation of the market highlights the prominence of the Asia-Pacific region, accounting for 40.6% of the market share in 2017, with a valuation of USD 6,467.4 million. Projections suggest that this figure is expected to reach USD 9,571.0 million by the end of 2023. The expansive growth in the automotive industry, particularly in the production of electric and lightweight vehicles, positions Asia-Pacific as a major contributor to the global silanes and silicones market.
