Silicone Oil Market 2027 | Top Manufacturers, Types and Applications

Silicone Oil Market: Introduction

Silicone oil is also known as polydimethylsiloxane (PDMS). Silicone oil contains silicon–oxygen linkages, which are considered stronger than the typical carbon-to-carbon chains present in hydrocarbon fluids. Hence, silicone oil witnesses higher demand.
Silicone oil is employed across various industries such as automotive, cosmetics & personal care, pharmaceutical, electronics, textile, and chemical
Silicone oil is transparent, non-toxic, odorless, and inert. It has electric and thermal stability, which makes it suitable for use in various industrial applications.

Key Drivers and Restraints of Global Silicone Oil Market

Increase in the demand for cosmetics, personal care products, and pharmaceutical products is expected to drive the global silicone oil market in the near future. Silicone oil has properties such as low density, high viscosity, and non-toxicity, due to which, silicone oil witnesses high demand in sectors such as cosmetics & personal care and pharmaceutical.
Growth of automotive, chemical, and electronics sectors across the globe is anticipated to boost the global silicone oil market during the forecast period. Properties of silicone oil such as water resistance, lack of odor, nontoxicity, inertness, and electric and thermal stability are expected to drive the global silicone oil market during the forecast period.
Increase in awareness about environment protection across the world is expected to drive the global silicone oil market during the forecast period. Silicone oil is a biocompatible and biodegradable material. Due to its eco-friendly properties, the demand for silicone oil is expected to increase in the near future.
Limited availability and fluctuating costs of raw materials is a major restraint of the global silicone oil market

Global Silicone Oil Market: Segmentation

The global silicone oil market can be segmented in terms of type and end-user industry
Based on type, the global market can be segmented into straight silicone fluid and modified silicone oil. The modified silicone oil segment is expected to dominate the global market between 2019 and 2027. Modification of silicone oil can be achieved by adding amino, carboxyl, methacryl, or dimethyl group to its structure, which imparts additional properties such as water repellency, absorbability, flexibility, and lubricity. Thus, the demand for modified silicone oil is expected to rise significantly during the forecast period.
In terms of end-user industry, the global silicone oil market can be classified into cosmetics & personal care, pharmaceutical, automotive, chemical, electronics, textile, and others. Among these, the cosmetics & personal care segment is projected to expand at the maximum CAGR during the forecast period.

Global Silicone Oil Market: Regional Segmentation

Based on region, the global silicone oil market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
Asia Pacific held a major share of the global silicone oil market in 2018. The market in the region is expected to expand at a significant rate during the forecast period, as countries such as China, Japan, and India witness high demand for silicone-oil-based cosmetic and personal care products as well as pharmaceutical products. In terms of consumption, China holds a major share of the market in the region.
The market in North America is expected to expand at a significant CAGR during the forecast period. The U.S. is expected to lead the North America silicone oil market during the forecast period.
The markets in Europe, Latin America, and Middle East & Africa are also expected to expand at a steady pace during the forecast period

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Key Developments

In May 2019, Momentive Performance Materials Inc. was acquired by a South Korea-based group that comprised SJL Partners LLC, Wonik Holdings Co. Ltd., and KCC Corp. The deal was valued at US$ 3 Bn.
In March 2019, CHT UK Manchester Limited acquired ACC Silicones Ltd. The company was renamed as CHT UK Bridgwater Ltd.
In February 2018, Evonik Industries AG started building a new plant in Shanghai, China for production of a wide range of organically modified specialty silicones. The plant would be commissioned by the end of 2019.

Key Players Operating in Global Market:

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