Expanding Construction Sector Fueling Silane Market Growth

The silane market generated sales worth $1,577.9 million in 2017, and it is expected to reach $2,047.0 million by 2023. The market is projected to demonstrate a CAGR of 4.3% during the forecast period (2018–2023). The market growth is driven by the expansion of the construction sector and high demand for paints and coatings. Currently, the market is observing the rapid consolidation of the competition through mergers and acquisitions.

In recent years, the demand for silane has increased tremendously in the paints and coatings sector, as it can offer excellent adhesion. Moreover, its high resistance to water, ultraviolet (UV) radiation, and chemicals makes it suitable for paints. Thus, the increasing demand for silane-based paints and coatings from the automobile sector will support the silane market growth in the coming years. The growing automobile production in developing nations, such as Thailand, India, Brazil, Indonesia, and Malaysia, will propel the demand for this chemical in the forecast period.

Another factor driving the silane market growth is the expansion of the construction sector in emerging economies across the globe. The improving living standards, escalating disposable income, and booming population in developing countries have increased the requirement for better housing, transportation, and civic infrastructure. Silane is used as a raw material in the production of paints for buildings. Thus, the development of smart cities, airports, and commercial facilities across the globe will supplement the market growth in the coming years.

Thus, the expansion of the construction sector and automobile sector is expected to fuel the demand for silane in the coming years.

Read More: https://www.psmarketresearch.com/market-analysis/silanes-market

Comments

Post a Comment

Popular posts from this blog

Surging E&P in Shale Gas Reserves Propelling Demand for Well Cementing

Image
With the surge in exploration and production (E&P) activities in both unconventional and conventional oil and gas reserves, the demand for well cementing is growing rapidly all over the world. Moreover, because of the recovery of crude oil prices, the oil and gas industry is booming, which is, in turn, propelling the requirement for well cementing. The soaring E&P investments in countries such as China, Russia, Brazil, and the U.S. are fueling the expansion of the well cementing industry. Due to the above-mentioned factors, the demand for well cementing is rising sharply across the world. This is fueling the progress of the global well cementing market. The valuation of the market is predicted to grow from $7,577.6 million in 2018 to $10,065.4 million by 2024. Furthermore, the market is predicted to progress at a CAGR of 4.7% between 2019 and 2024. Well cementing is used in shale gas, oil, and gas wells.  Out of these, the requirement for well cementing is predicted to gro...
Read more

How Will Cooling Appliance Demand Propel Insulation Market Growth?

Image
Factors such as the escalating demand for refrigerators and air conditioners, mounting infrastructure expenditure in developing countries, such as Brazil, China, India, and Russia, and increasing government support toward the installation of insulation systems in buildings are expected to drive the insulation market growth between 2018 and 2025. According to P&S Intelligence, the market will generate $101.3 billion revenue by 2025. Nowadays, governments of several countries are offering regulatory support to the installation of insulation products to improve energy efficiency.  The rising demand for air conditioners and refrigerators, on account of the soaring global temperature and the booming world population, is one of the major contributors to the market growth worldwide. The National Aeronautics and Space Administration estimates that the average surface temperature of the Earth has risen by 2.12 oF in 2020 since the late 19th century.  As per NASA, the years 2016 an...
Read more

Solar Encapsulant Industry Set to Exhibit Huge Expansion in Future

Image
The widescale installation of photovoltaic (PV) modules, continuous research and development (R&D) in solar cell technologies, and advent of crystalline silicon solar technology are expected to drive the market for solar encapsulant at a CAGR of 28.4% during the forecast period (2018–2023). The market generated a revenue of $1,036.0 million in 2017 and it is projected to generate $4,555.4 million by 2023. Moreover, the escalating awareness among people regarding the benefits of the solar cell technologies will propel market growth in the coming years. One of the prominent trends currently being observed in the solar encapsulant market is the rising incorporation of thin-film solar cell technology. This is mainly credited to the fact that the conventionally used crystalline silicon solar technology-based solar modules have high production costs and fragile nature. In addition to this, the thin-film solar cell technology has lower costs than the crystalline silicon solar technology ...
Read more