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Silicon Oil Market to Grow at a High CAGR in Upcoming years, Know about the Factors Driving the Market | Latest Developments | Value Chain Analysis | TOP Key Players

(July 17, 2018)

"Silicon Oil Market"
Silicon Oil Market Information: By Application (Damping Fluid, Thermal Bath Fluid, Lubricant, Dielectric Fluid, Cosmetics Products, Pharmaceuticals), End-Use Industry (Automotive, Cosmetics, Healthcare), And Region – Forecast Till 2023

Market Synopsis 

Silicone oil is a liquid polymerized siloxane with organic side chains. It is also known as polydimethylsiloxane (PDMS). The compound is colorless, transparent, viscous liquid that can be obtained in a wide range of viscosities. Viscosity is interlinked to the molecular weight of the silicone polymer. It offers various significant properties such as high thermal stability, low surface tension, oxidation stability, chemical inertness, high shear stability & viscoelasticity, high thermal conductivity, excellent dielectric properties, incompressible as well as are non-toxic, non-flammable, and non-corrosive nature. 

Silicon oil finds application as damping fluid to dampen vibration, dampen motion, and dampen torque in various end-use industries such as military & defense, aerospace, automotive, oil & gas exploration where high rates of pulsation and vibrations are encountered. Damping fluids are used in a range of equipment such as pressure gauges, pumps, flow testing equipment, geothermal monitoring equipment, subsea gadgets & cables, shock dampeners for vehicles, aviation gyroscopes, and others.  Silicon oils are also used as thermal bath fluids owing to its high thermal stability in industries, which deals with pumping and circulating over a wide service temperature range such as chemical & petrochemical, automotive, and aerospace industry among other. Additionally, silicone oil is widely used as a lubricant in different end-use industries such as textile, automotive, and aerospace as base fluid for greases, gasket lubricant, valve lubricant, sewing thread lubricant, and others. It also drives demand in the electronics industry as a dielectric fluid for various applications such as in capacitors, klystrons, magnetrons, microwave tubes, power rectifiers, radar equipment, and transformers among other. Furthermore, it is used in polishing applications such as boat polishing, car polishing, furniture polishing, metal cleaners, vinyl polishing, and window cleaners among other owing to its viscosity and glossy nature. Furthermore, Cosmetics & personal care industry drive huge demand of silicone oil for synthesizing antiperspirants, deodorants, hand creams and lotions, hair sprays, lipstick, make?up or color cosmetics, shampoos and conditioners, shaving creams.  Silicone oil also finds application in the healthcare industry such as in vitreoretinal surgery, Process Aids for Antibiotic Preparations, Sterilization Baths, and others. 

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Strong demand for cosmetics & personal care products on account of expanding population and rising disposable income are likely to drive the growth of the silicone oil market over the forecast period. Growing automotive industry in Asia Pacific owing to rising consumer purchasing power and low labor cost is expected to drive a huge demand for silicone oil in various applications as a lubricant, release agent, damping fluid, dielectric fluid, and thermal bath fluid over the forecast period. The healthcare industry is also expected to drive a significant demand for silicone oil over the forecast period.   However, high production cost of silicon oil is likely to hinder the market growth during the forecast period. Furthermore, availability of bio-based substitutes such as bio-based oil may also hamper the demand for silicon oil in cosmetics industry during the forecast period. 

Market Segmentation

The global silicone oil market is segmented by application, end-use industry, and region.

On the basis of the application, the global silicone oil market is segmented into damping fluid, thermal bath fluid, lubricant, dielectric fluid, cosmetics & personal care products, pharmaceuticals, polishes and others. 

On the basis of the end-user industry, the global silicone oil market is segmented into cosmetics & personal care, healthcare, automotive, aerospace, electronics, industrial, textile, and others.

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Regional Analysis

The global silicone oil market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. 

The Asia Pacific was the largest and fastest growing market of silicone oil in 2017 and is expected to continue growing over the forecast period. Rapid industrialization in the emerging economies owing to relaxed investment norms, government initiatives, and low labor cost is expected to contribute significantly to the growth of the market. End-use industries such as cosmetics & personal care, automobile, healthcare, industrial, and textile are expected to drive the market growth over the forecast period, 2018-2023. Europe is expected to be the second largest growing market with bolstering demand for silicone oil over the forecast period. This growth is attributed to various end-use industries such as strong automotive industry established cosmetics & personal care industry, and growing microelectronics industry of Europe is expected to drive the silicone oil market of this region. North America is expected to drive significant demand for silicone oil over the forecast period. End-use industries such as aerospace, cosmetics & personal care, the textile industry is expected to be contributing the market growth during the forecast period. The Middle East & Africa is expected witness moderate demand for silicone oil due to cosmetics & personal care and chemical & petrochemical industries over the forecast period. Latin America held the least market share in 2017 due to the slow regional development and is expected to show sluggish demand over the forecast period. 

Key Players

Some of the major players operating in the global silicone oil market are Merck KGaA (Germany), Aurolab (India), Clearco Products Co., Inc. (U.S.), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co. Ltd. (Japan), Elkem Silicones (France), Momentive Performance Materials Inc. (US), Thermo Fisher Scientific, Inc. (U.S.), D R P Silicone (India), Evonik Industries AG (Germany), ACC Silicones Ltd. (UK), BRB International (Netherlands), Siltech Corporation (Canada), Anhui Youcheng Siliconeoil Co., Ltd. (China), and China National Bluestar (Group) Co,Ltd. (China).   

Intended Audience

  • Silicone oil manufacturers
  • Traders and distributors of silicone oil
  • Research and development institutes
  • Potential investors
  • Raw material suppliers
  • Nationalized laboratory

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