According to the global silicone oil market report by IMARC Group, the market reached a value of US$ 3.38 Billion in 2021, and it is projected to reach a value of US$ 5.1 Billion by 2027, exhibiting a CAGR of 6.70% during 2022-2027.
Silicone oil is an odorless, non-toxic, transparent linear polysiloxane compound that offers higher thermal stability, flexibility, and compressibility than hydrocarbon and mineral oils. It is used as dielectric, electronics-grade, heating or cooling, diffusion pump, hydraulic or damping and thermostatic fluids, lubricants, paint and home care product additives, and softeners. It exhibits superior resistance against shear stress, natural aging, oxidation, and hydrolysis and possesses remarkable dielectric properties. As a result, silicone oil finds extensive applications in the cosmetics, pharmaceutical, and medical industries across the globe.
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Silicone Oil Market Trends and Drivers:
The global silicone oil market is primarily driven by the rising product demand for manufacturing personal care products due to its non-toxicity, low density, and high viscosity. Moreover, with the increasing environmental consciousness among individuals, the surging adoption of silicone oil as an eco-friendly material due to its biocompatible and biodegradable properties is positively influencing the market growth.
Additionally, there has been a rise in product applications in the automotive sector as lubricants and thermic fluid oils. Along with this, the escalating demand for silicone oil as a conformal coating for electronic circuit boards has catalyzed market growth. Furthermore, the increasing utilization of silicone oil in vitreoretinal surgery to maintain adhesion between the retina and retinal pigment epithelium and displace aqueous humor from the retinal surface is contributing to the market growth.
Other factors, including the rising mergers and acquisitions (M&A) among key players, escalating product demand from the renewable energy and textile sectors, inflating consumer expenditure capacities, and rapid industrialization, are also anticipated to propel the market growth.
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Global Silicone Oil Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Silicone Oil Companies:
Aurolab (Aravind Eye Care System), BRB International B.V., China National Bluestar (Group) Co. Ltd. (China National Chemical Corporation), CHT Group, Clearco Products Co. Inc., Dow Inc., Evonik Industries AG, Iota Silicone Oil (Anhui) Co. Ltd., Merck KGaA, Momentive Performance Materials Inc., Shin-Etsu Chemical Co. Ltd., Siltech Corporation, Thermo Fisher Scientific Inc. and Wacker Chemie AG.
The report has segmented the market on the basis of region, type, application and end use industry.
Breakup by Type:
- Straight Silicone Oil
- Modified Silicone Oil
Breakup by Application:
- Skin and Hair Care
- Textile Coating
- Chemical Intermediate
- Anti-foam Agent
- Release Agent
Breakup by End Use Industry:
- Personal Care
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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