IMARC Group, a leading market research company, has recently releases report titled “Silicon Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global silicon oil market size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Silicon Oil Market
Silicone oil refers to a transparent linear polysiloxane compound that comprises repeating chains of silicon and oxygen. It is widely available as polymethyl hydrogen siloxane, amino, phenyl methyl, vinyl, and hydrogen silicone oil. It is an organic, odorless, non-flammable, safe, effective, non-toxic, water-resistant, easy to clean, non-stick, stain-resistant, environment-friendly, and skin-friendly product. It is stable to heat oxidation and chemical attack and has the capability of providing anti-corrosion protection for metal surfaces and improves the softness of a product with minimum impact on tissue strength. It offers high thermal stability, flexibility, durability, compressibility, and low surface tension as compared to different hydrocarbon and mineral oils. It has dielectric properties and provides resistance against stress, natural aging, oxidation, and hydrolysis. It assists in providing improved weatherability, enhancing antistatic and antibacterial properties of tissues, and increasing lubrication performance. Besides this, it aids in retaining moisture, decreasing surface tension, and maintaining high-performance coating in a product. As a result, silicone oil is employed in the pharmaceutical, cosmetic, electronics, aerospace, textile, chemical, medical, construction, automotive, and furniture industries across the globe.
How Big Is the Silicon Oil Market?
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.
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What are the growth prospects and trends in the silicon oil industry?
At present, the rising adoption of silicone oil in the medical industry in vitreoretinal surgery, as it displaces aqueous humor from the retinal surface and maintains the adhesion between the retina and retinal pigment epithelium, represents one of the key factors contributing to the growth of the market. Besides this, the growing demand for silicone oil in the food service industry due to its anti-foaming properties is offering a positive market outlook.
Additionally, there is a rise in the adoption of environmentally friendly materials due to the growing awareness of the harmful impact of chemical-based products among individuals around the world. This, coupled with the increasing demand for silicone oil in anti-flatulent medicine to reduce immoderately formed gas in the digestive system among individuals, is bolstering the growth of the market.
Apart from this, the rising utilization of silicone oil as lubricants for polymers and rubbers due to its low coefficients of friction is impelling the growth of the market. Moreover, the increasing adoption of silicone oil in the cosmetic industry in ointments and creams to prevent skin from drying by forming a protective layer across the skin is offering lucrative growth opportunities to industry investors.
In addition, the rising utilization of silicone oil in the automotive industry for cooling fan clutch assemblies is supporting the growth of the market. Furthermore, the increasing adoption of silicone oil in the textile industry to provide enhanced softness and smoothness in a fabric is strengthening the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Who are the key players operating in the industry?
The report covers the major market players including:
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.
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