Global Silicone Oil Market to Grow at a CAGR of 7.0% During the Forecast Period of 2024-2032, Aided by the Increasing Demand for the Product from Various End-Use Industries

The silicone oil market is driven by the increasing demand for product from the end-use industries such as automotive, personal care, construction, and electronics, among others. Silicone oil is likely to witness significant demand from the automotive industry in the forecast period owing to the increasing application of the product in various applications such as precision casting, cleaning of the surface, and drying out electrical connectors. It is also used as a paint resistant in automobiles. Meanwhile, the development of silicone oil sprays is likely to provide robust impetus to the market growth, owing to the convenience of application of this product in any part of an automobile.

In June 2021, Wacker Chemie AG (ETR: WCH) developed BELSIL® DADM 3240 E by converting two silicones into an aqueous solution. This product will be suitable for formulating shampoos, conditioners and leave-in products. In shampoo systems, this new co-emulsion is compatible with the usual surfactant systems employed in hair care and the processing is straightforward. This development is likely to be a bane for personal care industry and will propel the sale of silicone oil in the forecast period, as it is highly effective, even at low concentrations. It is likely to provide results which are usually not provided by the conventional silicone oil.

In terms of region, the Asia Pacific region is likely to account for a significant share in the market. The market  is being driven by the thriving automotive industry, along with the various technological advancements in the field. Introduction of electric vehicles is one such example. The market growth in the region is expected to be aided by the rising demand for the product from the personal care industry, owing to the rising disposable income and growing population in countries like India, China, and Japan, among others.

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Market Breakup by, Types, Applications, End-Uses and Region:

• The market is segmented based on type into straight and modified.

• The product finds applications in anti-foam agent, chemical intermediate, release agent, sealant, and skin and hair care, among others.

• The major end-uses of the product include automotive, chemical, construction, electronics, medical, personal care, and textile, among others.

• Region-wise, the global market for silicone oil can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market is being driven by the rising demand for the product from various end-use industries including automotive, personal care, construction, and electronics, among others.

• The technological advancements in the automotive industry, such as the introduction of electric vehicles, are likely to propel the market growth.

• The rising disposable income and the growing population in the emerging economies, such as India and China, are some of the major reasons fuelling the industries such as personal care and electronics, which are in turn propelling the market growth.

• The market is expected to be aided by the growing inclination of a significant portion of the population towards personal care and skin and hair care.

Key Offerings of the Report:

• The EMR report gives an overview of the market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the    types, applications, end-uses, and major regions of silicone oil.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the market are Wacker Chemie AG, Evonik Industries AG, and Shin-Etsu Chemical CO. LTD., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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