Silicone Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Silicone Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global silicone oil market size reached US$ 3.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.55% during 2023-2028.

Silicone oil is an inert, odorless, non-toxic and transparent linear polysiloxane compound that offers high thermal stability, compressibility, and flexibility compared to hydrocarbon and mineral oils. It has remarkable dielectric properties and provides resistance against shear stress, natural aging, oxidation, and hydrolysis. It is also used as softeners, lubricants, paint and homecare product additives, and hydraulic or damping, dielectric, electronics-grade, heating or cooling, diffusion pump and thermostatic fluids. Besides this, it finds extensive applications in the cosmetics, pharmaceutical and medical industries worldwide.

Silicone Oil Market Trends:
The growing utilization of silicone oil in personal care products due to its low density, high viscosity, and non-toxicity represents one of the key factors driving the market. Moreover, there is a rise in the employment of silicone oil in the automotive industry as lubricants and thermic fluid oils. This, along with its escalating demand as a conformal coating for electronic circuit boards, is propelling the growth of the market. In addition, silicone oil is an eco-friendly material with biocompatible and biodegradable properties. This, coupled with the increasing awareness among the masses about the environment, is catalyzing the demand for silicone oil across the globe. Apart from this, the growing applications of silicone oil in diffusion pumps, dashpots, and freeze dryers around the world are offering lucrative growth opportunities to end-users and investors. Additionally, the rising employment of silicone oil in vitreoretinal surgery to displace aqueous humor from the retinal surface and maintain the adhesion between the retina and retinal pigment epithelium is positively influencing the market. Furthermore, key market players are focusing on partnerships and business expansions to expand their customer base. They are also focusing on mergers and acquisitions (M&A), which is projected to propel their overall sales and increase profitability.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global silicone oil market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, application and end use industry.

Breakup by Type:

Straight Silicone Oil
Modified Silicone Oil

Breakup by Application:

Sealant
Skin and Hair Care
Textile Coating
Chemical Intermediate
Anti-foam Agent
Release Agent
Others

Breakup by End Use Industry:

Chemical
Construction
Personal Care
Textile
Electronics
Automotive
Medical
Others

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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Report Coverage:

Key Questions Answered in This Report

1. What was the size of the global silicone oil market in 2022?
2. What is the expected growth rate of the global silicone oil market during 2023-2028?
3. What are the key factors driving the global silicone oil market?
4. What has been the impact of COVID-19 on the global silicone oil market?
5. What is the breakup of the global silicone oil market based on the type?
6. What is the breakup of the global silicone oil market based on the application?
7. What are the key regions in the global silicone oil market?
8. Who are the key players/companies in the global silicone oil market?