According to the report by Expert Market Research (EMR), the global silicone oil market size reached a value of USD 4.69 billion in 2023. Aided by the increasing demand for silicone oil in various applications, including lubricants, hydraulic fluids, and heat transfer fluids, as well as its rising use in the cosmetic and pharmaceutical industries, the market is projected to further grow at a CAGR of 7.0% between 2024 and 2032 to reach a value of USD 8.57 billion by 2032.
Silicone oil, known for its excellent thermal stability, low toxicity, and low surface tension, is a versatile product used in a wide range of sectors. Its unique properties make it an ideal choice for applications requiring high-performance lubrication, moisture resistance, and electrical insulation.
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The expanding automotive sector is a significant driver of the market. Silicone oil is extensively used as a lubricant in automotive components, such as brake systems, airbags, and shock absorbers, to ensure smooth operation and enhance vehicle performance. Additionally, the growing adoption of electric vehicles (EVs) is expected to further boost the demand for silicone oil, as it is used in electric vehicle batteries and components to provide thermal management and insulation.
The cosmetic sector is another key contributor to the silicone oil market growth. Silicone oil is widely used in personal care products, such as hair conditioners, moisturisers, and makeup, due to its ability to provide a silky, smooth texture and enhance the spreadability of products. Its non-comedogenic and hypoallergenic properties also make it a preferred ingredient in skincare formulations.
Furthermore, the pharmaceutical sector relies on silicone oil for its applications in medical devices and drug delivery systems. Silicone oil is used as a lubricant in syringes and medical tubing, as well as a coating agent for pills and capsules to improve swallowability and control drug release.
As per the silicone oil market analysis, the lubricants segment holds a significant share of the market, attributed to the widespread use of silicone oil as a lubricant in various industrial and automotive applications. However, the cosmetics and personal care segment is expected to witness substantial growth due to the increasing consumer demand for high-quality cosmetic products.
The Asia-Pacific region dominates the global silicone oil market share, driven by the rapid industrialisation and growth of the automotive, cosmetic, and pharmaceutical industries in countries such as China, India, Japan, and South Korea. The region’s market growth is further fuelled by the rising consumer awareness of personal care products and the increasing disposable incomes.
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North America and Europe are also key markets for silicone oil, with a strong focus on technological advancements and the adoption of sustainable and eco-friendly products. The stringent regulations regarding environmental protection and product safety in these regions are pushing manufacturers to develop biodegradable and non-toxic silicone oil alternatives, consequently leading to silicone oil market expansion.
Silicone Oil Market Segmentation
The market can be divided based on the type, application, end use, and region
Market Breakup by Type
- Straight
- Modified
Market Breakup by Application
- Anti-Foam Agent
- Chemical Intermediate
- Release Agent
- Sealant
- Skin and Hair Care
- Others
Market Breakup by End Use
- Automotive
- Chemical
- Construction
- Electronics
- Medical
- Personal Care
- Textile
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global silicone oil market. Some of the major players explored in the report by Expert Market Research are as follows:
- Wacker Chemie AG
- Evonik Industries AG
- Shin-Etsu Chemical CO. LTD.
- Others
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