North America and Europe together accounted for over half of the market revenues in 2015. However, Asia-Pacific is major market for silicone oil and is also estimated to witness the fastest growth owing to the rise in income and spending power of consumers in the emerging economies. Asia-Pacific contributed to around two-fifths of the market revenue in 2015 followed by Europe and North America. China alone accounted for one-fourth share from the overall Asia-Pacific revenue in 2015.
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Silicon Oil Market Revenue:
Chemical industry accounted for around one-fourth of the global silicone oil market revenue in 2015. This can be attributed to its properties that include heat & cold resistance, viscosity stability, chemical stability, and low surface tension that make it ideal for chemical industry. Moreover, construction and personal care are other important end users of silicone oil.
It is used as coatings, sealants, and water repellents in construction industry, owing to its ability to cross-link into films in presence of catalysts and form waterproof membranes on the surface of various materials; while in personal care industry, it is used in anti-aging creams and sunscreens as it offers volatility control, a smooth feel, improved water repellency, excellent spread-ability, and enhanced gloss. In addition, it is used in hair care products for hair conditioning, increased shine, color protection, and frizz control.
Silicone Oil Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $2,557 million by 2022, registering a CAGR of 4.6% during the period 2016-2022.Automotive and medical segments are expected to be the fastest growing end users in terms of revenue; whereas personal care and electronics segments are projected to be fastest growing segment in terms of volume.
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As of 2015, automotive and medical industries contributed a small share in the global silicone oil market revenues, but the scenario is expected to change in future and estimated to grow at higher CAGR.
Silicon Oil Market Leading Players:
The key players have adopted product launch and expansion as their key strategies to develop innovative products, reduce competition and capture additional market share. The prominent players profiled in this report include Momentive Performance Materials Inc., Shin-Etsu Chemical Co., Ltd., Bluestar Silicones International Co., Ltd (Elkem), Dow Corning Corporation, Wacker Chemie AG, Evonik Industries AG, Sigma-Aldrich Corporation (Merck), BRB International B.V., ACC Silicones Ltd., and Siltech Corporation.
Silicon Oil Market Segments:
Biocompatibility, alternative usage to hydrocarbon-based products and topical applications are anticipated to propel the silicone oil demand worldwide. Since, silicone oil market growth is driven by various factors such as increased usage in manufacturing of various lubricants and fluids across industries, it has replaced hydrocarbon-based products in various industrial applications due to its superior thermal stability. In addition, its biocompatibility property has led to an increase in its adoption in the medical industry. Furthermore, it is also used in skin topical and personal care applications owing to its non-sensitizing and non-irritating nature.
In the year 2015, the skin & hair applications, sealants, and chemical intermediate application segments together accounted for more than three-fifths share of the silicone oil market revenue. Asia-Pacific has witnessed a rise in market share of these applications owing to an increase in individual expenditure on skin & hair care products as well as rapid growth of infrastructure activities in the region.
Key Benefits for Stakeholders:
- This report entails the detailed quantitative analysis of the current market and estimations through 2014-2022, which assists in identifying the prevailing market opportunities.
- Factors that drive and impede the growth of the market are comprehensively analyzed in this study.
- Micro-level analysis is conducted based on application, end-user and region.
- Porter’s Five Forces model illustrate the potency of buyers and sellers.
- The projections in this report are made by analyzing the current trends and future market potential from 2016 to 2022 in terms of value and volume.
- Key manufacturers are profiled in the report and their developments in recent years are listed, which helps in understanding competitive outlook of global silicone oil market.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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