Report Overview
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The global Ethyl Silicate Market size was USD 445.84 million in 2021. According to our research, the market is expected to reach USD 593.23 million in 2027, exhibiting a CAGR of 4.88% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the white board market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Ethyl silicate, also known as ethyl orthosilicate, is a colorless liquid that is soluble in alcohol and other organic solvents. It is primarily used as a binder in paints and coatings, adhesives and sealants, and ceramic applications. Ethyl silicate is also used as a crosslinking agent in silicone rubber production.
COVID-19 Impact: The Crisis Led to A Decline in Demand of the Product
The COVID-19 pandemic has had a mixed impact on the ethyl silicate market. The pandemic led to a decline in demand from end-use industries, especially construction and automotive, resulting in a temporary decline in the market. However, the rising demand for paints and coatings from the healthcare and sanitation sectors and the growing adoption of sustainable and eco-friendly products are expected to drive the demand for ethyl silicate during the forecast period.
Latest Trends
"Demand for Sustainable Products to Boost Market Demand "
The global ethyl silicate market is witnessing some latest trends, including the growing demand for sustainable and eco-friendly products, the increasing adoption of 3D printing technology in ceramic applications, and the development of low VOC and waterborne paints and coatings. Moreover, the growing demand for high-performance coatings in the automotive and aerospace industries is expected to drive the demand for ethyl silicate in the coming years.
Segmentation
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- By Type
According to type, the market can be segmented into ethyl silicate 40, ethyl silicate 32, and ethyl silicate 28.
- By Application
The market can be broken down based on application into coatings, adhesives & sealants, textiles, ceramics & glass, and ceramics.
Driving Factors
"Growing Demand from Paints and Coatings Industry"
The growing demand for paints and coatings in various end-use industries such as construction, automotive, and healthcare is expected to drive the demand for ethyl silicate. Ethyl silicate is widely used as a binder in high-performance coatings due to its excellent adhesion, durability, and weather ability properties.
"Increasing Adoption of Ethyl Silicate in Ceramic Applications"
The increasing adoption of ethyl silicate in ceramic applications, such as 3D printing, is expected to drive the demand for ethyl silicate during the forecast period. Ethyl silicate is used as a binder and crosslinking agent in ceramic applications, providing excellent strength, adhesion, and resistance to heat and chemicals.
Restraining Factors
"Fluctuating Raw Material Prices to restrain market growth"
The fluctuating prices of raw materials, such as silica and ethanol, used in the production of ethyl silicate, is one of the significant factors restraining the market growth. The volatility of raw material prices affects the profitability of manufacturers and makes it difficult to maintain a stable supply chain.
Regional Insights
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"Asia Pacific to Be the Largest Market Owing to The Increase in Demand"
Asia-Pacific is expected to be the largest and fastest-growing market for ethyl silicate, owing to the increasing demand for ethyl silicate in various end-use industries such as construction, paints and coatings, and electronics. The growth is primarily attributed to the rapid industrialization and urbanization in countries like China and India, leading to an increase in construction activities and infrastructure development.
Key Industry Players
"Major Market Players Are Focusing On Collaborative Efforts "
The global ethyl silicate market share is highly competitive, with key players adopting various strategies to maintain their market position. Many companies are investing in research and development to improve product quality and launch innovative products. Collaborative efforts through partnerships and mergers and acquisitions are also helping market players stay ahead of the competition.
List of market players profiled
- Zhejiang Xinan Chemical (HQ: China)
- Momentive (HQ: United States)
- COLCOAT (HQ: Malaysia)
- Jinzhou Longhua Petrochemical (HQ: China)
- Zhejiang Zhengbang Organosilicon (HQ: China)
- Wacker (HQ: Germany)
- Zhangjiagang Xinya Chemical (HQ: China)
- Nantong Chenggang Chemical (HQ: China)
- YAJIE Chemical (HQ: China)
- Hopeful-silane (HQ: China)
- Silbond (HQ: United States)
- Evonik (HQ: Germany)
- Zhangjiagang LongTai Chemical (HQ: China)
Report Coverage
This report provides a comprehensive analysis of the global ethyl silicate market growth, considering factors like segmentation, industrial developments, trends, opportunities, growth, size, share, and restraints. The report also profiles key industry players and offers a detailed analysis of their strategies, partnerships, and collaborations. The analysis is subject to alteration if the key players and probable analysis of market dynamics change.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
| Market Size Value In | US$ 445.84 Million in 2021 |
| Market Size Value By | US$ 593.23 Million by 2027 |
| Growth Rate | CAGR of 4.88% from 2021 to 2027 |
| Forecast Period | 2021-2027 |
| Base Year | 2021 |
| Historical Data Available | Yes |
| Segments Covered | Type and Application |
| Regional Scope | Global |
Frequently Asked Questions
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What value is the global ethyl silicate market expected to touch by 2027?
The global ethyl silicate market is expected to touch USD 593.23 million by 2027.
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What CAGR is the global ethyl silicate market expected to exhibit during 2022-2027?
The global ethyl silicate market is expected to exhibit a CAGR of 4.88% over 2022-2027.
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Which are the driving factors of the ethyl silicate market?
The driving factors of the global ethyl silicate market include increasing demand for silicate-based products in various end-use industries such as construction, electronics, and automotive, growing demand for lightweight and high-performance materials, and advancements in technology and product innovation.
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Which are the top companies operating in the global ethyl silicate market?
The major players operating in the global ethyl silicate market include Zhejiang Xinan Chemical, Momentive, COLCOAT, Jinzhou Longhua Petrochemical, Zhejiang Zhengbang Organosilicon, Wacker, Zhangjiagang Xinya Chemical, Nantong Chenggang Chemical, YAJIE Chemical, Hopeful-silane, Silbond, Evonik, Zhangjiagang LongTai Chemical, among others.
