The global silane coupling agents market size is estimated to grow from USD 1.2 billion in 2021 to USD 1.6 billion by 2026, at a CAGR of 5.5% during the forecast period. The driving factors for the silane coupling agents market is increasing penetration of silane coupling agents in the automotive & transportation, building & construction industry, energy & chemical segment, and electrical & electronics industry in the emerging economies, such as India, China, and the Middle-East, Thailand, Indonesia, Brazil, and Argentina.
COVID-19 Impact on the Silane coupling agents Market
The global Silane coupling agents market includes major Tier I and II suppliers like Dow (US), Wacker Chemie AG (Germany), Evonik Industries AG (Germany), Momentive (US), and Shin-Etsu Chemical Co. Ltd. (Japan), These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, and Rest of the World. COVID-19 has impacted their businesses as well.
The global silane coupling agents market is expected to witness a decrease in its growth rate in 2020-2021, as the automotive, energy & chemical and building & construction is badly hit by the covid-19 pandemic. The pandemic has affected both material, labor, and key cost components of construction projects. The pandemic has led to production stoppage in several silane coupling agent-producing countries that are under lockdown. APAC and Europe are the leading producers of silane coupling agent for various end-use industries. All these factors have led to disruption in the supply chain of the silane coupling agent market as operations have slowed down in many manufacturing units.
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Silane coupling agents Market Dynamics:
- Driver: Increased demand for silane coupling agents in paints & coatings
- Restraint: Decreasing demand from plastic packaging
- Opportunity: Emerging applications in pharmaceutical & healthcare industries
- Challenges: high cost of production
Rubber & plastics is the fastest-growing application segment in the Silane coupling agents market. The growth in this segment is attributed to the growing use of coupling agents in tire manufacturing. The use of silane coupling agents makes tires strong and efficient. It accounted for a share of about 36.0% of the silane coupling agents market, in terms of value, in 2020.
APAC accounted for the largest share of the Silane coupling agents market in 2020. The market in the region is growing because of increased foreign investments because of cheap labor and availability of raw materials. The demand for silane coupling agents in APAC is expected to increase in the next five years, due to many ongoing and upcoming building & construction projects, and industrial projects in Southeast Asian countries. High economic growth and heavy investments in these applications play a key role in driving the silane coupling agents market.
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