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Silicone oils are generally colourless transparent liquids, exhibiting excellent resistance to heat, cold, and moisture. They belong to a group of polymeric and monomeric compounds that constitutes of silicon-oxygen bonds named organosiloxane. Silicone oils offer excellent stability when exposed to high temperatures for extended periods of time and have remarkably high resistance to cessation by mechanical shearing. The shear stability of silicone fluids can be as much as twenty times that of superior petroleum oils, providing extended life at high speed and loading. The global silicone oil market is gaining notable growth due to replacement of hydrocarbon-based products with silicone oil-based products. In addition, high potential of silicone oil in healthcare applications will support the market growth in near future. Furthermore, the overall market is also being propelled by rapidly increasing demand from emerging countries such as China and India. Being the major markets for silicone oil in the APAC region, these countries are observing wide industrialization, thus propelling the market growth. However, the global silicone oil market is hampered by high cost of production. The global market is estimated and forecasted in terms of revenue (USD million) generated by the silicone oil market.
The report analyses the global silicone oil market based on product type, application, end use industry and geography. Based on product type, the global silicone oil market is segmented into straight silicone oil and modified silicone oil. The modified silicone oil accounted for the largest share of the silicone oil market in 2017. Modified silicone is used in widespread applications, as cosmetics ingredients, resin modifiers, textile agents, waxes additives and construction water repellents among others. Based on application, this market is segmented into adhesives, anti-foam agent, lubricant, release agent, solvent, water repellent and others (insulator, additives, etc.). The water repellent segment dominated the global market in 2017 and is expected to dominate the market in the future, owing to water repellent property of silicones, making it suitable for treating cotton, polyester acetate, and other fibers. Based on end use industry, the global silicone oil market is divided into personal care & home care, textile, energy, automotive & transportation, agriculture and others (pharmaceutical, electrical & electronics etc.). Personal care & home care attributed to the largest share of silicone oil among the various end-use industries. This large share is mainly due to use of silicone oil in numerous homecare & personal care applications because to its biocompatibility, low surface tension, high permeability, and pressure sensitive properties. By geography, the global silicone oil market is studied across the countries of key regions such as, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2017, Asia Pacific dominated the global silicone oil market, and is expected to retain the share during the forecast period as well. Increasing industrialization, growing economy, and budding population are the main reasons for this high growth rate.
Many international players are entering the region due to cheap labour, easily availability of raw material, and favourable governmental rules and regulations. Among various countries in this region, China is expected to lead the market of silicone oil, growing at the highest CAGR. The high demand for silicone oil in the country is attributed to rapid industrialization witnessed over the past few decades. Furthermore, In North America, a recent trend of utilizing recycled silicone oil which performs similar functions as that of silicone oil is propelling the market growth. Some of the key market players of the global silicone oil market include Dow Corning Corporation, Electrolube, Elkay Chemicals Pvt. Ltd., Fuchs Group, HNK Silicone, Iota Silicone Oil (Anhui) Co., Ltd, ISOL Industries, KCC Basildon Chemical Company Ltd., Lubrizol Corporation, Power Chemical Corporation. and Wacker Chemie A.G. among others. New product launches and expansion are the leading strategies adopted by the key companies, followed by partnership, acquisition, and joint venture to widen their geographical outreach.
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