Silicone oil, a versatile and widely used synthetic fluid, has gained significant popularity in various industries due to its unique properties and wide-ranging applications. Derived from the silicone family of compounds, silicone oil offers exceptional stability, heat resistance, low surface tension, and lubricating capabilities, making it an indispensable component in numerous sectors. Let’s delve into the world of the silicone oil market and explore its key players and applications.
The report “Silicone Oil Market by End-Use Industry (Industrial, Personal Care & Homecare, Textile, Energy, Automotive & Transportation, Agriculture, Others), by Application (Lubricants Water Repellants Working Media Heat Carrier) and by Region – Global Forecast to 2020”, published by MarketsandMarkets, The global market is projected to reach USD 2.41 Billion by 2020 from estimated USD 1.78 Billion by upcoming years , at a CAGR of 4.85%.
Browse 94 market data Tables and 63 Figures spread through 154 Pages and in-depth TOC on “Silicone Oil Market by End-Use Industry (Industrial, Personal Care & Homecare, Textile, Energy, Automotive & Transportation, Agriculture, Others), by Application (Lubricants, Water Repellants, Working Media, Heat Carrier) and by Region – Global Forecast”
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The silicone oil market has witnessed substantial growth over the years, driven by the increasing demand from industries such as healthcare, cosmetics, automotive, electronics, textiles, and construction. In the healthcare sector, silicone oil finds extensive usage in medical devices, including implants, contact lenses, and syringe coatings. Its biocompatible nature and resistance to extreme temperatures make it ideal for these applications.
Increasing demand for silicone oil from the end-user industries such as personal care & home care, automotive, industrial and demand from emerging economies such as China, India, and Brazil is mainly driving the growth of the market.
Lubricants: the largest application segment of the silicone oil market
Among the various applications, the lubricants segment holds the largest share in the silicone oil market. This large share is attributed to the increasing use of silicone lubricants compared to mineral lubricants as silicone oil lubricants have unique physical and chemical properties. Silicone oil lubricants can withstand high temperature range and possess good dielectric property. Silicone oil based lubricants are widely used in industrial processing such as polymer production, yarn and thread production, textile finishing, and so on. However, water repellents application segment is expected to grow at the highest CAGR.
Personal care & home care industry: the largest consumer of silicone oil among end-use industry
Silicone oil is majorly consumed by the personal care & home care industry, thus holding the largest share in the silicone oil market as compared to other end-use industries. This industry is projected to dominate the market of silicone oil in near future and is the fastest-growing market for silicone oil during 2015 and 2020. Silicone oil is extensively used in myriad homecare & personal care applications owing to its versatility, biocompatibility, conditioning benefits, low surface tension, high permeability, and pressure sensitive properties. The aging population in the North America region and the growing demand from consumers for improved quality personal care products is driving the market of silicone oil.
Asia-Pacific – The most dominant region in the global silicone oil market
The Silicone Oil Market in Asia-Pacific accounted for the largest share of the global silicone oil market, in terms of volume, in 2014. It is expected to account for the largest share of the market by 2020 due to the increasing demand for personal care products such as hair care products, skin cream, and color cosmetics and so on, from the developing countries such as India and China.
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The major market players of silicone oil market, Dow Corning Corporation (U.S.), Wacker Chemie A.G. (Germany), Shin-Etsu Chemical Co. Ltd. (Japan) and other global players, have a strong foothold in the Asia-Pacific market. Rapid industrialization in these regions is also a driving factor the growth of the silicone oil market.
An in-depth market share analysis, in terms of revenue, of the top companies is also included in the report. These numbers are arrived at based on key facts, annual financial information from SEC filings, annual reports, and interviews with industry experts, key opinion leaders such as CEOs, directors, and marketing executives. Some of the major market players in this market are Wacker Chemie A.G. (Germany), Dow Corning Corporation (U.S.), Momentive Performance Materials Inc. (U.S.), Shi-Etsu Chemical Co. Ltd. (Japan), Bluestar Silicones International (France), and others.
