Silicone Oil Market Growth, Size, Share, Trends, and Forecast 2030

The global silicone oil market size was worth around USD 5,208.79 Billion in 2022 and is predicted to grow to around USD 6,980.44 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 3.73% between 2023 and 2030.

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Global Silicone Oil Market: Overview

Silicone oil is also referred to as polydimethylsiloxane. It is considered stronger than the carbon to carbon chain in hydrocarbon fluids. It contains silicon-oxygen linkages. Furthermore, silicone oil is inert, non-toxic, and transparent. It holds thermal and electrical stability, which makes it ideal for different applications in the industrial space. It has high compressibility and flexibility when compared to mineral oils. Also, it is resistant to hydrolysis, oxidation, natural aging, and shear stress. Silicone oil is adopted in a number of applications ranging from damping or hydraulic, home care products, paints, lubricants, & softeners to dielectric, electronic grade, diffusion pump, cooling & heating, and thermostatic fluid. Apart from these, silicone oil is extensively used in the medical, pharmaceutical, and cosmetic sectors globally.

Global Silicone Oil Market: Growth Factors

The global silicone oil market is anticipated to surpass $3.34 billion with a healthy CAGR during the forecast period due to the growing demand for silicone oil from the cosmetic and personal care sector. The fast proliferating automotive sector is also posing huge development opportunities in the global silicone oil market as it will strengthen the demand for thermic and lubricant fluid oils. Apart from these, the surging requirement for electronic circuit boards will also supplement the demand for silicone oil as it is widely used in conformal coating.

Additionally, silicone oil is a biocompatible eco-friendly material that holds biodegradable properties. However, the growing environmental concerns globally are rapidly shifting masses towards adopting silicone oil for different applications globally. The high penetration rate of silicone oil in vitreoretinal surgery applications effectively replaces aqueous humor from the retinal surface is likely to positively impact the trajectory of the global silicone oil market. Players are emphasizing acquisition and partnership deals to expand the business globally. Also, the growing number of acquisitions and mergers is fostering development in the global silicone oil market, thereby increasing revenue and profitability globally.

Furthermore, the fast proliferating electronics, textile, cosmetic, and personal care sector is fueling the demand exponentially. The outbreak of the Covid-19 pandemic has significantly impacted the growth of the global silicone oil market as worldwide lockdown disrupted supply chain and manufacturing unit operations. But the growing initiatives from market leaders are likely to throw strong growth prospects in the forthcoming years.

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Silicone Oil Market: Report Scope

Global Silicone Oil Market: Segmentation

The global silicone oil market is segmented into end-user, application, type, and region.

By end-user, the market can be segmented into medical, automotive, electronics, textile, personal care, construction, chemical, and others. The personal care segment accounts for the largest share in the global market in terms of revenue and volume. Silicon oil is widely used in a large number of personal care products like hair care products, shampoo, shaving products, and others. The increasing demand for premium personal care products along with a growing customer base globally is further likely to stimulate the growth of the segment.

By application, the market can be segmented into release agents, antifoam agents, chemical intermediate, textile coating, skin & hair care, sealant, and others. The skin & hair care segment holds the largest share in the global silicone oil market due to the high demand from growing economies like India, China, and others.

By type, the market can be segmented into modified and straight silicone oil types.

By product types

• Straight Silicon Oil
• Modified Silicon Oil

By end-user

• Medical
• Automotive
• Electronics
• Textile
• Personal care
• Construction
• Chemical
• Others

By applications

• Personal Care and Home Care
• Textile
• Energy
• Automotive and Transportation
• Agriculture
• Others

Global Silicone Oil Market: Regional analysis

Asia Pacific accounts for the largest share in the global silicone oil market due to the presence of growing economies like Japan, India, China, and others. Amongst all, China is the largest consumer. The high demand from growing countries owing to the rapid industrialization and urbanization is likely to strengthen the growth of the regional market.

North America is a leading region in the global market due to the presence of leading market players in the region.

Global Silicone Oil Market: Competitive Players

Some of the significant players in the global silicone oil market include

• Iota Silicone Oil (Anhui) Co. Ltd
• CHT Group
• BRB International BV
• Siltech Corporation
• Momentive Performance Materials, Inc
• Shin-Etsu Chemical CO. LTD
• and Evonik Industries AG.

Global Silicone Oil Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.