The North America Silane and Silicone Market is valued at USD 4386.15 Mn in 2019 and is estimated to grow at a CAGR of 5.21% over the forecast period to reach USD XX Mn by 2027.
North America holds 25.9% of market share in 2018, and is expected to be 24.4% by 2027, for the Global Silane and Silicone Market.
The U.S. dominates this region, holding over 90% of market share in 2018, of North America’s Market. The collective revenue of the Silane and Silicone market by North America is expected to generate USD XX Mn from 2020 - 2027. North America holds a substantial market share owing to the booming construction sector in the region.
Moreover, huge investment in infrastructure improvement by the U.S. government is anticipated to boost demand in the region.
For instance, the U.S. The Federal Reserve raised interest rates in December 2016, which could result in faster buying activity in the housing segment; which, in turn, is also projected to be a major factor for industry growth. Since most end-user applications such as automotive, construction, and industrial processes are related to the economic well-being and growth of an economy, the market is expected to grow at a moderate pace. Other factors such as consumer preference for paint and waterborne coatings has fuelled the product demand in the U.S. and Canada.
In 2016, non-residential repainting jobs accounted for a 15% share of the architectural paint consumption volume in the U.S. and Canada. The demand for fuel-efficient cars has further boosted the demand for silanes - based tires in the automotive industry in North America. The North American market both consumes and produces a significant portion of the world’s silicone rubber, and expanding applications in high-value electronics and medical devices offer a promising future for the silicone rubber industry.
The United States produced some 405 thousand metric tons of silicon in 2018. In 2018, Canada's silicon production amounted to some 54 thousand metric tons, making Canada the world's 13th-largest silicon producer that year. The U.S silane and silicone market was valued at USD 3792.24 Mn in 2018 and is estimated to grow at a CAGR of 5.09% over the forecast period to reach a USD 5599.31 Mn by 2027. The collective revenue of Silane and Silicone market by the U.S is expected to generate USD 37596.49 Mn from 2020- 2027. The U.S. holds the most significant regional market owing to the its high consumption, production, import and export of silane and silicone products. The United States produced some 405 thousand metric tons of silicon and The consumed 625 thousand metric tons in 2018. Exports stood at some 7 thousand metric tons of ferrosilicon and 62 thousand metric tons of silicon metal. On the other hand, the U.S. imported some 150 thousand metric tons of ferrosilicon and 140 thousand metric tons of silicon metal.
Canada silane and silicone market was valued at USD XX Mn in 2018 and is estimated to grow at a CAGR of 6.38 % over the forecast period to reach USD XX Mn by 2027. Canada holds 9.4% of market share in 2018, and is expected to be 10.2% by 2027, for North America Silane and Silicone Market. The collective revenue of the Silane and Silicone market in Canada is expected to generate USD XX Mn from 2020- 2027. Canada’s regional market share is attributed to its construction and electronics industries among other end-user industries.
In 2018, the GDP for the construction industry in Canada stood at around 141.6 billion Canadian dollars. By 2016, total revenues of semiconductor manufacture in Canada are projected to reach approximately 2.3 billion U.S. dollars. Canada's shipments of paints, coatings, and adhesive chemicals, in 2018, had a total value of some 3.01 billion Canadian dollars.
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