The latest research study “Silicone Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global silicone oil market size reached a value of US$ 3.38 Billion in 2021. 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 2022-2027.
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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.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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.
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.
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|Silicone Oil Market Report Scope|
|Market size value in 2021||US$ 3.38 Billion|
|Market forecast in 2027||US$ 5.1 Billion|
|Growth Rate||CAGR of 6.70% from 2022 to 2027|
|Base year for estimation||2021|
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.
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
Market 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
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
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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