Silicone Oil Market 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 2030
ID: MRFR/CnM/4594-HCR | 100 Pages | Published By Priya Nagrale on April 2023
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Silicone Oil Market
The Silicone Oil Market was valued at USD 2.43 billion in 2030 and is expected to register a CAGR of 4.54% during the forecast period from 2021 to 2030.
$2.43 Billion
4.54%
Asia Pacific
2021-2030
Segmentation
Key Players
Drivers
Silicone Oil Market
The silicone oil market was valued at USD 2.43 billion in 2030 and is expected to register a CAGR of 4.54% during the forecast period from 2021 to 2030.
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.
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. SegmentionBased 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 DevelopmentNov 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 Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | USD 2.43 billion 2030 |
| CAGR | 4.54% 2030 |
| Base Year | 2019 |
| Forecast Period | 2021-2030 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, End-Use Industry |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | 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 Drivers | continuously growing population |
Frequently Asked Questions (FAQ) :
The silicone oil market valuation was USD 2.43 billion 2030.
The market would achieve a 4.54% CAGR during the forecast period of 2021-2030.
The silicone oil market report has applications like thermal bath fluid, damping fluid, dielectric fluid, lubricant, pharmaceuticals, cosmetics products, and others.
The Asia Pacific region would drive the silicone oil market.
The silicone oil market report has automotive, healthcare, aerospace & defense cosmetics, and others.
