Silicone Oil Pricing Report ​2024​: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data

Silicone Oil Pricing Report ​2024​: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data

Report Format: PDF+Excel | Report ID: SR112024A23154
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Silicone Oil Prices December 2023

Category Region Price
Silicone Oil Petrochemicals USA 2353 USD/MT
Silicone Oil Petrochemicals China 3526 USD/MT
Silicone Oil Petrochemicals Germany 3654 USD/MT

In the latter quarter of 2023, silicone oil prices in the United States saw a bearish trend. In October, there was a surge in the output of crude and natural gas, which impacted the price of the product. Also, the country witnessed negative demand pressure and subdued manufacturing activity. Finally, by the end of December the price settled at 2353 USD/MT.

Throughout Q4 of FY2023, the silicone pricing trend in China remained mainly negative. This trend was influenced by the combination of low demand sentiment and high stockpiles. Nonetheless, the nation's industrial sector expanded, stabilizing prices in November and December. At last, the price of the product in China reached 3526 USD/MT.

Germany witnessed a bearish trend for the product’s price in the last quarter of 2023. The presence of large inventory and negative demand pressure caused the dip in prices. Also, the decline in consumer confidence due to high mortgages and rent charges created an impact on the product’s price. By December end, the price in the country settled at 3654 USD/MT.

Silicone Oil Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Silicone oil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of silicone oil pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing silicone oil price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Silicone Oil Price Trend

Silicone Oil Market Analysis

The global silicone oil market size reached US$ 3.9 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 6.5 Billion, at a projected CAGR of 5.80% during 2023-2032.

  • The industrial sector is a prominent user of silicone oil, which is contributing to its market expansion. In the automotive industry, it is an essential constituent of lubricants, brake fluids, and damping fluids, owing to its exceptional thermal stability and low-temperature fluidity. The automobile industry in India produced a total of 25.93 million vehicles, including passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles, from Apr 2022 to Mar 2023. China's vehicle export in 2022 touched 2.1 million vehicles during Jan-Sep 2022, up from 55% compared with 2021. In electronics, this oil is used in dielectric fluids and thermal management applications. In 2020, the online sales of consumer electronics were estimated to be Є434.99 billion ($473.2 billion). By 2027, it will reach a value of Є496.4 billion ($540 billion). Its ability to withstand high temperatures and insulate electrically makes it indispensable in the production of various electronic components and devices.
  • Silicone oil is also being used in the medical and healthcare industries due to demanding criteria for materials that are biocompatible, safe, and perform well. Its outstanding lubricating properties and inert, non-toxic characteristics make it a preferred choice for various medical devices such as syringes, catheters, and prosthetics.  It helps reduce friction and wear, ensuring smoother operation and longer lifespan of medical devices. The U.S. healthcare spending increased by 4.1% to $4.5 trillion, or $13493 per person. In FY23, India's public healthcare expenditure accounted for 2.1% of GDP. Also, in 2022, the European government spent Є1221 billion on health, accounting for 7.7% of GDP. The increase in spending has made this oil more accessible to many countries. Also, in pharmaceuticals, silicone oils serve as carrier fluids, facilitating the delivery of active ingredients in various formulations.
  • Another main driver of the market expansion is the personal care sector. Because of its special qualities, this oil is essential to the creation of cosmetics, skin care, and hair care products. It provides a silky, smooth texture, which enhances the sensory experience of products, making it more appealing to consumers. In skincare, it forms a protective barrier on the skin, helping to retain moisture and protect against environmental damage. It creates a barrier of defense for the skin during skincare, assisting in moisture retention and safeguarding against environmental harm. This barrier function is particularly beneficial in anti-aging and moisturizing products. For hair care, this oil helps improve shine, reduce frizz, and protect hair from heat damage, making it a preferred ingredient in conditioners, serums, and styling products.
  • The agricultural sector is employing this oil as an adjuvant in pesticides and herbicides. It enhances the effectiveness of agrochemicals by improving their spreading and wetting properties, ensuring a more uniform and efficient application on plant surfaces. This leads to better pest and weed control, thereby increasing crop yields and agricultural productivity. Also, its ability to reduce the surface tension of liquids allows for better coverage and penetration of agrochemicals, even on difficult-to-wet surfaces. This not only enhances the efficacy of the treatments but also reduces the amount of chemicals needed, promoting more sustainable agricultural practices.

Silicone Oil News

The report covers the latest developments, updates, and trends impacting the global silicone oil market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in silicone oil production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the silicone oil industry:

  • In September 2023, Wacker AG increased the amount of specialty silicone it produced in Zhangjiagang, China. The company plans to build many new production lines to produce silicone fluids, silicone emulsions, and silicone elastomer gels at a cost of €150 million.

Product Description

Silicone oil is a versatile and commonly used synthetic chemical made consisting of silicon-oxygen (Si-O) bonds and organic groups bound to silicon atoms. Based on its viscosity and functional groups, this oil can be categorized into multiple types, such as amino-modified silicone oil, dimethylsilicone, phenylmethylsilicone, and fluorosilicone. These oils are part of the wider class of organosilicon compounds, which are noted for their high thermal stability, low volatility, and chemical inertness.

They are hydrophobic substances with excellent dielectric properties, low surface tension, and broad thermal stability (-50°C to 200°C). They are created in a series of stages that include siloxane polymer synthesis, polymerization, end-blocking, purification, and formulation.

They are used in lubricants, brake fluids, dielectric fluids, drug delivery systems, syringes, catheters, cosmetic formulations, pesticides, sealants, protective coatings, adhesives, and leather processing. These oils are known for their several advantages, like versatility, safety, efficiency, and durability.

Regional Coverage

The report provides a detailed analysis of the silicone oil market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends. 

Global Silicone Oil Price

The report offers a holistic view of the global silicone oil pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

Europe Silicone Oil Price

The silicone oil price in Europe showed a bearish sentiment during the final quarter of 2023. The presence of high inventory due to the region’s aggressive purchase for the winter contributed to this sentiment. Additionally, the product’s exports to other regions and countries remained sluggish, leading to a dip in prices.

This analysis can be extended to include detailed silicone oil price information for a comprehensive list of countries.

Region Countries Covered
Europe Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries.

North America Silicone Oil Price

In North America, silicone prices declined during the Q4 FY2023 because of the high output of natural gas and crude oil. Additionally, the declining demand for lubrication from the manufacturing sector further impacted the price. The region also observed a fall in demand from the EV and semiconductor sector, which led to more dip in prices.

Specific data on silicone oil prices within the United States and Canada can also be provided.

Region Countries Covered
North America United States and Canada

Middle East and Africa Silicone Oil Price

The report explores the silicone oil pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on silicone oil prices for countries can also be provided.

Region Countries Covered
Middle East & Africa Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries.

Asia Pacific Silicone Oil Price

The Asia Pacific silicone oil market showed a bearish trend during the last quarter of 2023. The prices declined due to lower demand and feedstock prices in the region. Also, a dip in the number of export orders for the product during this quarter further impacted the price.

This analysis can be further extended to include detailed silicone oil prices for a comprehensive list of countries within the region.

Region Countries Covered
Asia Pacific China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries.

Latin America Silicone Oil Price

The analysis of silicone oil prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Region Countries Covered
Latin America Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries.

Report Coverage

Key Attributes Details
Product Name Silicone Oil
Report Features Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Price Analysis, and Segment-Wise Assessment.
Currency/Units US$ (Data can also be provided in local currency) or Metric Tons
Region/Countries Covered The current coverage includes analysis at the global and regional levels only. 
Based on your requirements, we can also customize the report and provide specific information for the following countries: 
Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand*
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* 
North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru*

Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco*

*The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client.
Information Covered for Key Suppliers
  • Company Overview
  • Business Description
  • Product Portfolio
  • Recent Trends and Developments
Customization Scope The report can be customized as per the requirements of the customer
Report Price and Purchase Option

Plan A: Monthly Updates - Annual Subscription

  • Scope
    • Historical Data for the Current Month
    • Forecast for Next Month
  • Total Deliverables Per Year: 12 (One Per Month)
  • Includes: One PDF and Excel datasheet per month, Post Purchase Analyst Support throughout the year

Plan B: Quarterly Updates - Annual Subscription

  • Scope
    • Historical Data for the Current Quarter
    • Forecast for Next Quarter
  • Total Deliverables Per Year: 4 (One Per Quarter)
  • Includes: One PDF and Excel datasheet per Quarter, Post Purchase Analyst Support throughout the year

Plan C: Biannually Updates - Annual Subscription

  • Scope
    • Historical Data for the Current Half
    • Forecast for the Next Half
  • Total Deliverables Per Year: 2 (One Per 6 Months)
  • Includes: One PDF and Excel datasheet per Half, Post Purchase Analyst Support throughout the year  
Post-Sale Analyst Support  360-degree analyst support after report delivery
Delivery Format PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) 

Key Benefits for Stakeholders:

  • IMARC’s report presents a detailed analysis of silicone oil pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
  • The study examines factors affecting silicone oil price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
  • The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
  • IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the silicone oil industry.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Silicone Oil Pricing Report ​2024​: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
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