IMARC Group’s latest report, titled “Silicone Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global silicone oil market size reached US$ 3.38 Billion in 2021. Silicone oil, also known as silicone fluid, refers to an inert, odorless, non-toxic, and transparent linear polysiloxane compound. It exhibits superior dielectric properties and offers excellent water repellency and resistance against shear stress, natural aging, oxidation, and hydrolysis. It provides low density, non-toxicity, and high electric and thermal stability, compressibility, viscosity, and flexibility than hydrocarbon and mineral oils. It is widely used as lubricants, softeners, paint and homecare product additives, and hydraulic or damping, dielectric, electronics-grade, diffusion pump, thermostatic, and heating or cooling fluids. As a result, silicone oil finds extensive applications across numerous industries, including cosmetics and personal care, automotive, pharmaceutical, electronics, chemical, and medical.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Silicone Oil Market Trends:
The increasing applications of silicone oil in personal care products, such as shampoos, hair care products, and shaving essentials, represent the primary factor driving the market growth. Moreover, since silicone oil is an eco-friendly material with biocompatible and biodegradable properties, the growing environmental consciousness among the masses has accelerated the product adoption rate. Additionally, there has been widespread adoption of silicone oil in vitreoretinal surgery to displace aqueous humor from the retinal surface and maintain adhesion between the retina and retinal pigment epithelium. In line with this, the growing usage of silicone oil as lubricants and thermic fluid oils in the automotive industry to enhance vehicle performance by providing excellent resistance to heat, oil, and coolant has augmented the product demand. Besides this, the rising adoption of silicone oil in diffusion pumps, dashpots, and freeze dryers is another major growth-inducing factor. Furthermore, the emerging product applications in manufacturing home care products, such as furniture polish, detergents, toiletries, insecticides, and fragrances, are positively influencing the market growth. Other factors, including the escalating product demand from the renewable energy and textile sectors, surging usage as conformal coatings for electronic circuit boards, inflating consumer expenditure capacities, and rapid industrialization, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 5.1 Billion by 2027, growing at a CAGR of 6.70% during 2022-2027.
- Based on the type, the market has been bifurcated into straight and modified silicone oil.
- On the basis of the application, the market has been classified into sealant, skin and hair care, textile coating, chemical intermediate, anti-foam agent, release agent, and others.
- The market has been divided based on the end use industry into chemical, construction, personal care, textile, electronics, automotive, medical, and others.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Aurolab (Aravind Eye Care System), BRB International B.V., China National Bluestar (Group) Co. Ltd. (China National Chemical Corporation), CHT Group, Clearco Products Co. Inc., Dow Inc., Evonik Industries AG, Iota Silicone Oil (Anhui) Co. Ltd., Merck KGaA, Momentive Performance Materials Inc., Shin-Etsu Chemical Co. Ltd., Siltech Corporation, Thermo Fisher Scientific Inc., and Wacker Chemie AG.
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