Growing Demand from End-User Industries & Developing Nations Fueling the Growth of Silicone Oil Market

Silicone oil is a synthetic liquid that is widely used in a variety of applications such as lubricants, water repellants, solvents, and paints & coatings, among others. It is non-flammable, non-toxic, and odorless, which is why it has a huge demand from end-user industries such as homecare & personal care, textile, automotive, electrical & electronics, and medical sectors, especially in developing nations like China, India, and Brazil. Owing to its benefits such as versatility, biocompatibility, conditioning, low surface tension, and high permeability, the demand and use of silicone oil has increased greatly in the personal care & homecare sector, thereby giving a major boost to the global market. It is expected to witness a significant growth over the coming years.

Drivers & Restraints

The global market for silicone oil is achieving significant growth, mainly due to the following factors:

  • Growing applications for silicone oil
  • Increasing demand from developing regions
  • High R&D investments in high end silicone oil products
  • Replacement of hydrocarbon-based products with silicone oil-based products

Apart from these, increasing competition in the APAC market and high potential of silicone oil in healthcare applications is likely to offer new growth opportunities in this market. However, high cost of production may slowdown the growth of this market over the coming years. Moreover, the market being price sensitive, it poses as a key challenge for the leading players under this market.

Market Predictions

The global silicone oil market which was valued at USD 1.78 Billion in 2014 is projected to reach USD 2.41 Billion by 2020, growing at a CAGR of 4.85% during the forecast period from 2015 to 2020. Of all the regions, Asia-Pacific took up the largest share of the market in 2014, and is expected to dominate the market over the forecast period as well. It is also expected to be the fastest-growing market throughout the projected period, with China expected to grow at the highest CAGR. This growth can be primarily attributed to the growing industrialization, economic growth, and rising population.

Among applications, the lubricants segment holds the largest market share, thanks to the increased use of silicone oil lubricants, which have unique physical and chemical properties. However, the water repellents segment is the fastest-growing application segment, owing to the growth in industrialization, especially in Asia-Pacific, and growing textile industry. Based on end-use industry, personal care & home care segment is the largest consumer of silicone oil. It is projected to hold the largest market share, and is also the fastest-growing market during the forecast period.

The major players operating in the global market for silicone oil comprise Wacker Chemie A.G. (Germany), Dow Corning Corporation (U.S.), Momentive Performance Materials Inc. (U.S.), Shin-Etsu Chemical Co. Ltd. (Japan), Bluestar Silicones International (France), ACC Silicones (U.K.), Iota Silicone Oil Co. Ltd. (China), KCC Basildon Chemical Company Limited (South Korea), and others.

Request a Sample @ http://www.marketsandmarkets.com/requestsample.asp?id=149756405

Research Scope

As per the researchers at MarketsandMarkets, the global market for silicone oil has been studied and forecasted on the basis of following segmentation:

  • Application: Lubricants, Water Repellants, Working Media, Heat Carrier, Others
  • End-Use Industry: Industrial, Personal Care & Home Care, Textile, Energy, Automotive & Transportation, Agriculture, Others
  • Geography: North America, Europe, Asia-Pacific, RoW

Share this post:

Recent Posts

Comments are closed.