Monosilane Market Size, Share, Growth Analysis, By Grade(Electronic, Industrial, Others), By Application(Rubber & Plastic, Fiber treatment, Adhesives & Sealants, Paints & Coatings), By Region - Industry Forecast 2024-2031

Monosilane Market size was valued at USD 1.11 billion in 2021 and is poised to grow from USD 1.2 billion in 2022 to USD 2.16 billion by 2030, growing at a CAGR of 7.7% in the forecast period (2023-2030).

Key industry participants are making significant investments in R&D to expand their product offerings, which will spur further growth in the monosilanes market. With significant industry changes like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking a variety of strategic activities to develop their presence. In order to grow and survive in a highly competitive environment, monosilanes industry competitors must provide affordable products. 'Tokuyama Corporation (Japan)', 'Wacker Chemie AG (Germany)', 'OCI Company Ltd. (South Korea)', 'REC Silicon ASA (Norway)', 'LG Chem (South Korea)', 'Hemlock Semiconductor Corporation (U.S.)', 'Air Liquide S.A. (France)', 'Linde AG (Germany)', 'Dow Corning Corporation (U.S.)', 'Momentive Performance Materials Inc. (U.S.)', 'Evonik Industries AG (Germany)', 'Shin-Etsu Chemical Co., Ltd. (Japan)', 'Gujarat Fluorochemicals Ltd. (India)', 'Inner Mongolia Dakang Chemicals Co., Ltd. (China)', 'Xiamen Changelight Co., Ltd. (China)', 'American Elements (U.S.)', 'AXT Inc. (U.S.)', 'Jiuzhou Silicon Industry Co., Ltd. (China)', 'China Silicon Corporation Ltd. (China)', 'Jiangsu Zhongneng Chemical Co., Ltd. (China)'

The primary industry driving the market is the rapid expansion of paints & coatings sector. The demand for paints and coatings is rising as building and construction industry picks up in growing countries including Asia Pacific and the Middle East and Africa. Also, as monosilane is widely utilized in plastics, rising demand from the automobile industry is expected to drive monosilane sales.

Monosilane is in greater demand because of its superior qualities compared to other silicon-based compounds in the semiconductor and solar industries.

In 2021, Asia Pacific dominated the monosilane market. This growth is attributable to the region's growing demand for plastic compounds and rubber substrates in the automotive, industrial machinery, construction, packaging, and electrical & electronics sectors, as well as the expansion of the manufacturing sector in nations like India, China, Japan, and India. There is a high demand for products in the region as a result of the existence of significant chemical manufacturers like Sinopec, MSC Malaysia, and SINOPEC CHINA UNIChemicals. Due to its extensive silicone manufacturing capacity and expanding demand from a variety of end-use sectors, including paints & coatings, rubber and plastic, adhesives & sealants, among others, China is one of the world's top manufacturers and consumers of monosilane. Europe, which had a share of over 30% in 2019 due to increased silicone consumption across numerous end-use applications, including adhesives, positioned itself second to Asia Pacific.