Silicon Oil Market : Dynamics, Segments, Size and Demand, 2017 - 2027
Global Silicon Oil Market: Market Dynamics
Rising disposable incomes along with increasing concern toward skin and hair care due to changing dietary habits, stress, and pollution have resulted in large scale adoption of beauty and hair care products. Therefore, use of silicon oil in cosmetic industry is expected to be one of the reasons for the growth of silicon oil market during the forecast period. Furthermore, owing to its non-toxic nature, non-flammability, and de-foaming effect, it is used to make ointments, which have good efficacy for burns, bed sores, dermatitis, etc. Thus, adoption of silicon oil in pharmaceutical industry can also be a reason for the growth of the market over the forecast period. Moreover, it is also used as a lubricating oil in mechanical components. Thus, use of silicon oil in automobile industry is expected to witness moderate growth over the forecast period. Moreover, silicon oil has ability to maintain adhesion between retina and retinal pigment epithelium. Thus, consumption of silicon oil in vitreoretinal surgery is estimated to grow significantly over the forecast period.
However, high manufacturing cost of silicon oil is one of the challenges for the growth of global silicon oil market over the forecast period. Furthermore, use of substitutes (such as bio-based oil) in hair and beauty products can also hamper the growth of silicon oil market over the forecast period.
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Global Silicon Oil Market: Segmentation
On the basis of product type, global silicon oil market is segmented as below:
Straight silicon oil
Modified silicon oil
On the basis of applications, global silicon oil market is segmented as below:
Others (insulator, additives, etc.)
On the basis of end-use industries, global silicon oil market is segmented as below:
Personal Care & Home Care
Automotive & Transportation
Others (pharmaceutical, electrical & electronics etc.)
Global Silicon Oil Market: Regional Outlook
Asia Pacific is expected to hold a major share of the global silicon oil market and is estimated to lead throughout the forecast period. Rapid industrialization in this region is a factor for the silicon oil market growth. Furthermore, this region is expected to witness significant growth over the forecast period. Asia Pacific region is followed by Europe and North America. Silicon oil is being used for the treatment of vitreoretinal disorders in almost all the developing as well as developed countries and hence it has a greater potential for driving the market growth.
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Global Silicon Oil Market: Market Participants
Examples of some of the major participants operating in global silicon oil market is mentioned below:
Dow Corning Corporation
Wacker Chemie A.G.
China National Bluestar (Group) Co, Ltd.
Power Chemical Corporation.
Elkay Chemicals Pvt. Ltd.
Iota Silicone Oil (Anhui) Co., Ltd
KCC Basildon Chemical Company Ltd.
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