Our in-depth analysis segmented the global silane coupling agents market in the following segments:
By Product Type
By End-Use Industry
The global silane coupling agents market is further classified on the basis of region as follows:
The global silane coupling agents market is anticipated to expand at a CAGR around 3.8% during 2017-2027. It expected to reach around USD 0.72 Billion by 2027. Silane coupling agents are used across various industries. The great binding properties enable them to be used across various industries such as rubber and plastics, fiber treatment, adhesives and sealants and paints coatings, on the account of their excellent binding properties. They are mainly used to bind two dissimilar surfaces which can be organic or inorganic. They are also used to provide high strength and resistance from abrasion.
The global silane coupling agents market can be segmented into product type, end-use and by region. Moreover, on the basis of end use it is sub segmented into Chemicals, Electrical, Automotive, Energy and Construction. The chemical industry primarily used silane coupling agents for enhancing transparency and improving viscosity during the process such as mixing and kneading. In the development business, silane coupling agents are regularly used to enhance the sturdiness and quality of building, structures. The automotive segment uses silica-reinforced tyres with relatively high molecular weight, which can bear with the challenging weather conditions.
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By region, global silane coupling agents market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia-Pacific region is projected to be the largest market for coupling agent and is expected to register significant CAGR during the forecast period. The increasing population and the disposable income are major factors driving the automotive industry in Asia-Pacific region, which is expected propel the coupling agent market during the forecast period.
In modern years, there has been an inclination towards the increase in the production and consumption of silane coupling agents. It can be attributed to the rise in application from many end-use industries such as construction, automotive and electrical. Growing demand amongst competitors for silane agent that can be used in energy applications, such as production of highly advanced hybrid materials that can be collaborated with wind power assemblies is one of the factors that are anticipated to fuel the growth in the market. Furthermore, the growing use of silane coupling agent compound for refining dispensability of materials that are inorganic in nature is used as a raw material for the production of hard coated materials.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Smruti Ranjan, Rajrani Baghel