(I-BusinessNews.Com, October 16, 2019 ) Silane and Silicone Â Market Worth Around USD 26 Billion by 2026
The Global Silane and Silicone Market is valued at USD XX Million in 2018 and is expected to grow at a CAGR of 5.97% over the forecast period to reach a USD XX Million by 2026.
Growth of the various end-use industries such as electronics, cosmetics, automotive and construction are the major factors responsible for boosting the global Silane and Silicone market. Moreover, development of new products and services and the rising demand for Silane and Silicone in emerging economies are the factor that likely to creating lucrative growth opportunities for the market in the near future. Increasing usage of silicones and silanes in the building and construction industry, rising demand for silicones and silanes from the automotive industry and the growth of the biomedical and electronics industry are the major factors responsible for the growth of the global silicones and silanes market. The growth of the building and construction industry is the primary driving factor attributing to the growing demand for silicones and silanes products. Silicone sealants are used in the construction industry to ensure important structural materials stay in place. Silicon adhesives and structural silicone glazing are majorly employed to protect and maintain the long-term quality and appearance of a building. Silicone products are also used in restoring historical buildings and monuments. Silicone additives can also help reduce the overall energy consumption of the building by using these additives as insulating materials. Thus, growth in the construction sector is expected to boost the global silane and silicone market. For instance, according to the World Bank estimates the global expenditure from the construction industry is expected to reach USD 14 trillion by 2025. Also, according to a research survey by Oxford Economics, the volume of the global construction output is expected to grow by 85% to USD 15.5 trillion by 2030. Owing to these factors, the global silicone, and silane market is anticipated to witness healthy growth in the future.
Middle East and Africa region will grow at a faster pace in Silane and Silicone market during the forecast period
The Middle East & Africa Silane and Silicone Market is valued at USD XX Million in 2018 and is estimated to grow at a CAGR of 7.50% over the forecast period to reach a USD XX Million by 2026. The Middle East market is expected to show growth owing to the increasing public and private investments in the construction sector of the emerging economies of the region. For instance, GCC (Gulf Cooperation Council) countries have long-term strategies of development projects that focus on social infrastructure, transportation, and tourism. Saudi ArabiaÂs active endeavour to upgrade its transport infrastructure, and develop better leisure and healthcare facilities as well as its colossal projects such as The Red Sea Project, Neom, the Maritime City, and the Qiddiya Entertainment City are anticipated to give Saudi Arabia the most proactive construction segment, in turn driving demand for Silane and Silicone.
The global silane and silicone market is highly competitive with the large number of regional and international players. The companies are competing based on the price, product specifications, and market presence. The global silane and silicone market share is characterized by competition based on prices and service provided to clients. Major industry participants are based in the United States and Europe. Major companies include BASF, DowDupont, Wacker Cheie AG, Elkem SA, Milliken & Company, and PCC Group. The major focus of these companies is to achieve lower prices and to develop products with niche application and their investments are driven in the same direction.
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