According to the latest report by IMARC Group, titled “Global Silicone Oil Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2023-2027“, the global silicone oil market reached a value of US$ 3.38 Billion in 2023. Looking forward, IMARC Group expects the market to reach a value of US$ 5.1 Billion by 2027 exhibiting a CAGR of 6.70% during 2023-2027.
Silicone oil is an inert, non-toxic, odorless, and transparent liquid polymerized siloxane that offers high thermal stability. It is non-flammable and provides resistance against natural aging, shear stress, oxidation, and hydrolysis. It is also used in industrial applications, such as distillation and fermentation, where excessive amounts of foam cannot be used. Moreover, due to its low density and non-toxic properties, silicon oil has extensive applications in pharmaceutical, food and beverage (F&B), and cosmetics industries.
Base Year: 2023
Forecast Year: 2023-2027
Silicone Oil Market Trends and Drivers:
The market is primarily driven by the increasing usage of silicon oil in manufacturing personal care products. In addition, the growing product adoption in the automotive industry as lubricants and thermic fluid oils is contributing to the market growth. Besides this, silicon oil is widely used in diffusion pumps, dashpots, and freeze dryers, representing another major growth-inducing factor.
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Moreover, due to the growing environmental concerns among individuals, manufacturers are using silicon oil as it has biocompatible and biodegradable properties. This, coupled with the escalating product demand from the healthcare industry, is creating a positive market outlook as it is utilized in vitreoretinal surgery to maintain the adhesion between the retina and retinal pigment epithelium.
Furthermore, key players are engaging in partnerships, business expansions, and mergers and acquisitions (M&A) to expand their consumer base in the market. On account of these factors, the market is expected to witness positive growth in the coming years.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Silicone Oil Market 2023-2027 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.
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.
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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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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