Global Silicone Oil Market 2018 Sales Volume, Revenue and Growth Rate Forecast 2025
High demand for personal care and cosmetics on account of expanding population and rising income are likely to drive the growth of the silicone oil market. Emergent automotive industry in the Asia Pacific, in countries like India, China, Pakistan, and others, owing to rising count of a number of buyers and low labor cost is expected to upsurge the demand for silicone oil. Rising use of silicone oil in various applications as a lubricant, damping fluid, dielectric fluid, and thermal bath fluid over the past few years can further boost the market growth. The healthcare industry is also expected to drive a significant demand for silicone oil owing to use of silicone oil retinal detachments. However, the high production cost of silicon oil is likely to hinder the market growth during the forecast period.
Furthermore, the availability of bio-based substitutes and other alternatives such as bio-based oil may hamper the demand for silicon oil in the cosmetics industry in the near future. End-users such as cosmetic industry, textile industry, and aerospace or aviation industry are expected to be a contributing factor towards the growth of global silicone oil market in the upcoming years.
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The global silicone oil market is geographically divided into North America, Europe, APAC, and LAMEA. North America is expected to be the leading consumer of silicone oil market, owing to the presence of many global key players.
Europe is expected to hold a significant position in the respective market, owing to the rising demand from automobile industry saturated in the region of Europe including countries such as Germany, U.K., France, Italy, Spain, and others.
Demand for silicone is expected to elevate to in Asia- Pacific and the market in the region is expected to expand rapidly in the near future owing to rising use of silicone oil in various applications in Asian countries such as India, China, Thailand, Malaysia, Japan, South Korea, Indonesia, Singapore, and others.
China is the world’s major producer of silicon, including thereby silicon content for ferrosilicon and silicon metal. In 2016, approximately 4.6 million metric tons of silicon was produced in China, which accounted for about two-thirds of world production of that year.
In LAMEA market Brazil, Argentina, South Africa, Saudi Arabia, Turkey, and others are expected to be the major countries for the market.
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The global key manufacturers of Silicone oil market are:
Dow Corning Corporation (U.S.), Elkem Silicones (France), ACC Silicones Ltd. (UK), KCC Silicone Corporation (U.S.), Bluestar Silicones International Co., Ltd.(France), Wacker Chemie A.G. (Germany), Siltech Corporation (Canada), Anhui Youcheng Siliconeoil Co., Ltd. (China), Thermo Fisher Scientific, Inc. (U.S.), Shin-Etsu Chemical Co. Ltd. (Japan), H.N.K Silicone Enterprise (India), Zhejiang Runhe Chemical New Material Co.,Ltd. (China), Jiangsu Hongda New Material Co Ltd (China)
Recently, in May 2018, Jiangsu Hongda New Material Co Ltd planned to acquire 25% stake in a 75% owned unit, which is mainly engaged in production and sales of silicone oil and silica gel, for around 37.2 million Yuan.
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