Silicone Oil Market Research Report Information by Application (Damping Fluid, Thermal Bath Fluid, Lubricant, Dielectric Fluid, Cosmetics Products, Pharmaceuticals, and Others), by End-Use Industry (Automotive, Aerospace & Defense, Cosmetics, Healthcare, and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - Forecast till 2032

Global Silicone Oil Market Overview

The Silicone Oil Market Size was valued at USD 3.85 Billion in 2023. The silicone oil industry is projected to grow from USD 4.11 Billion in 2024 to USD 6.88 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.5% during the forecast period (2024 - 2032).  

Regional Analysis

The silicone oil market outlook has been reviewed with regards to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. The Asia-Pacific region holds the largest share for the global silicone oil market in 2018 and is expected to be the fastest-growing region during the forecast period. The rapid industrialization supported by the government for refining the economy stimulates the growth of the automotive, healthcare, and

cosmetics industry

. Moreover, the continuously growing population in the region and escalating interest of owning a vehicle among buyers prompting large fabrication of the automotive in the region along with the increasing concern of individuals to invest more on their health and hygiene are the primary reason for fuelling the development of silicone oil in the provincial market. Europe held the second-largest share for the global silicone oil market in 2018. This is due to the region’s active growing market in cosmetics and healthcare with a nifty GDP per capita. Which has, in turn, increased the standard of living of every individual, making them spend more on their health, which furthermore leads to more consumption of cosmetics and healthcare products. It is thereby propelling the overall growth of the regional market. The aerospace & defense and healthcare industries are driving the silicone oil in the regional market. Owing to the properties such as excellent electric insulators, thermal stability, nonflammable, and good heat transferring abilities, silicone oils are used in external coolants loops and radiators in international space stations to reject heat in space. The Middle East & Africa is witnessing a gentle growth in the global silicone oil market. Attributing to silicone oils primarily used as lubricants, thermal fluids, and hydraulic fluids there is a high requirement of these oils in the construction industries of the Middle East & Africa region for the better maintenance of there machinery. The Latin America region is witnessing slow growth in the global silicone oil market due to the growth of the automotive industry in the countries like Brazil and Mexico which uses silicon oils as lubricants and for cooling fan assemblies for there, automobiles hence increasing the growth of silicon in the regional market.  

Pyridines Market Key Players 

Some of the key players in the global silicon lubricant market are Merck KGaA (Germany), Aurolab (India), Clearco Products Co., Inc. (US), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co. Ltd (Japan),

Elkem Silicones

(France), Momentive (US), Thermo Fisher Scientific Inc. (US), D R P Silicone (India), Evonik Industries AG (Germany), CHT UK Bridgwater Ltd (UK), BRB International (Netherlands),

Siltech Corporation

(Canada), Anhui Youcheng Siliconeoil Co., Ltd (China), and China National Bluestar (Group) Co, Ltd (China).

Market Overview

Silicone oil is a transparent, non-toxic, odorless, tasteless liquid comprising of a linear chain of siloxane which is an organosilicon with the (Si-O-Si) linkage with a variety of side chains. There are different types of silicons oils, varying from each other based on their viscosity and the properties shown by them. The differences are based on their viscosity and molecular weight. Usually, silicone oils have a low specific density (0.97), high viscosity (1-5cs), low interfacial tension (35 mN/m) with a capability of being heavier or lighter than water which is dependent on the radical group attached to it. Owing to these properties, silicone oils have a significant application in the healthcare industry. For instance, the silicone oils used in Opthalmology consist of a hydrocarbon radical attached to them, moreover knowing the physical and chemical properties of silicone oil one can effectively use them in vitreoretinal surgery and intraocular tamponade. Due to the features such as good heat transferring abilities, excellent electric insulators, nonflammable and thermal stability silicon oils have found their use in diffusion pumps, oil-filled heaters, dashpots, freeze dryers, refrigerants, and others.

Segmention

Based on application, the global silicone oil market has been divided into damping fluid, thermal bath fluid, lubricant, dielectric fluid, cosmetics products, pharmaceuticals, and others. By end-use industry, the global silicone oil market has been segregated into automotive, aerospace & defense cosmetics, healthcare, and others.

Recent Development Nov 2021

Following its recent launch in Hong Kong, the company behind a skin oil produced from black soldier fly larvae extract is hoping to expand into China and Macau. Insect

Beauty

is a collaboration between SIBU Sea Berry Therapy, a US-based organic and clean-beauty business, and Josh Galt, an insect industry professional, based in Asia. Only one product is a youth rejuvenating face oil; a premium face oil developed to increase skin hydration while also promoting cellular healing and rejuvenation.

Feb 2021

Phase one of creating the first plant in the United States for silicone rubber recycling has been completed. ECO USA's pilot plant has grown tremendously since it first opened in 2018. It can recycle about 500 metric tonnes of silicone each month, with hopes to reach 1,000 metric tonnes in the near future. Their breakthrough comes at a critical time when the augmented use of silicone in manufacturing is causing an increase in silicone waste. The same material that would have been thrown away can now be recycled into polydimethylsiloxane, a common type of silicone oil utilized in various goods and applications, thanks to ECO USA's efforts.

Intended Audience:

• Silicone oil manufacturers






• Traders and distributors of silicone oil






• R&D sector






• Potential investors






• Raw material suppliers

Report Attribute/Metric	Details
Market Size 2023	USD  3.85 Billion
Market Size 2024	USD 4.11 Billion
Market Size 2032	USD 6.88 Billion
Compound Annual Growth Rate (CAGR)	7.5% (2024-2032)
Base Year	2023
Market Forecast Period	2024-2032
Historical Data	2018 & 2020
Market Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered	Application, End-Use Industry
Geographies Covered	North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered	The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled	Merck KGaA (Germany), Aurolab (India), Clearco Products Co., Inc. (US), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co. Ltd (Japan), Elkem Silicones (France), Momentive (US), Thermo Fisher Scientific Inc. (US), D R P Silicone (India), Evonik Industries AG (Germany), CHT UK Bridgwater Ltd (UK), BRB International (Netherlands), Siltech Corporation (Canada), Anhui Youcheng Siliconeoil Co., Ltd (China), and China National Bluestar (Group) Co, Ltd (China)
Key Market Opportunities	New product launches and R&D Amongst major key Players
Key Market Dynamics	Growth of the transportation industry and maritime trade