H1 2023: During the first half of 2023, the Asia Pacific region emerged as the predominant consumer of Silicone Oil. In the first quarter of 2023, Silicone oil prices in China experienced a decline, driven by cost pressures from low feedstock Silicon prices and a subdued demand outlook from downstream industries in the Asian nation. The production rate and costs of Silicone oil remained at a lower level due to sluggish demand from both Asian and overseas markets. Additionally, the decrease in new order placements was observed in the Chinese market, coinciding with a drop in export volumes. Furthermore, China's manufacturing activity contracted in March, contributing to the overall market dynamics of Silicone oil in the Chinese market during this period. From April 2023, Silicone oil prices in the South Korean market underwent a continuous decline, fuelled by moderate demand and sufficient domestic inventories. Inquiries from downstream industries, including automotive, construction, and cosmetics, stayed hazy. The market had plenty of supply, with ample material in South Korean ports resulting from steady imports, notably from China. Moreover, decreasing freight charges on major trade routes, influenced by weak demand, added to the downward pressure on Silicone oil prices in the South Korean market. Similarly, Silicone oil prices declined in the Chinese market till June 2023.
The global Silicone Oil market stood at approximately 820 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 6% during the forecast period until 2032.
Silicone oil refers to liquid siloxane polymerized with organic side chains, with Polydimethylsiloxane being a key member. This oil serve primarily as lubricants, thermic fluid oils, or hydraulic fluids. Notably, this oil exhibit exceptional electrical insulation properties and, unlike their carbon counterparts, are non-flammable. Their widespread utilization in laboratories involves their temperature stability and efficient heat-transfer characteristics, commonly employed in heating baths, also known as "oil baths," positioned on hot plates. One prominent use of silicone oil is in lubrication, where its low viscosity and exceptional thermal stability make it a preferred choice in numerous mechanical applications. Its ability to reduce friction and prevent wear in moving parts is particularly valuable in enhancing the efficiency and longevity of machinery. Additionally, the anti-foaming properties of silicone oil find application in industries such as food processing, where the reduction of foam is crucial for optimal processing. In the realm of cosmetics and personal care products, silicone oil plays a pivotal role. Its smooth texture and capacity to improve the spread ability of products make it an ingredient in formulations such as shampoos, conditioners, lotions, and skin creams. This contribution to the cosmetic industry underscores silicone oil's significance in enhancing the sensory and application attributes of various personal care items. Silicone oil plays a multifaceted role in the automotive sector, enhancing performance and durability. Additionally, silicone oil plays a pivotal role in medical and pharmaceutical applications as a lubricant, release agent, and a component in medical implants. Its utility extends to the food processing industry, serving as an anti-foaming agent in processes such as brewing, fermentation, and edible oil processing.
The anticipated expansion of the worldwide automotive, chemical, and electronics industries is poised to propel the global silicone oil market in the forecasted timeframe. The market is expected to be driven by the favourable properties of silicone oil, including water resistance, non- odour, non-toxicity, inertness, and both electric and thermal stability. The silicone oil market is propelled by a multitude of factors, each with distinct applications across various industries. Notably, the growth in the automotive sector fuels demand, with silicone oil serving as a lubricant for essential rubber components like door seals and gaskets, as well as in applications such as anti-friction coating, shock absorber fluid, thread sealant, and protection for rubber and plastic surfaces. Silicone oil is widely used in textiles for fabric softening, lubrication, waterproofing, and as a finishing agent. It enhances fabric performance, is compatible with dyeing processes, imparts a cooling sensation in cotton fabrics, and provides excellent storage stability with deepening effects. The growing demand of the silicone oil in textile sector is another factor driving the market. The expansion of the electronics sector is marked by the use of silicone oil as a dielectric fluid for insulating electrical components within vehicles. In the chemical industry, silicone oil finds diverse applications, functioning as a process fluid, anti-foaming agent, and a component in the production of other chemicals. Further, the market benefits from its role in cosmetics and personal care products. These drivers, rooted in various industries, collectively contribute to the widespread adoption and growth of the silicone oil market. The global Silicone Oil market is anticipated to reach nearly 1460 thousand tonnes by 2032.
Asia Pacific region is the largest consumer of Silicone Oil due to a range of factors. This dominance is credited to the robust demand stemming from key sectors like automotive, cosmetics, and construction. Rapid urbanization fuels demand for silicone oil-integrated products in construction, automotive, and consumer goods. As a manufacturing hub, particularly in China, the region is a major global producer of silicone fluid, supporting diverse applications like lubricants, additives, and healthcare products. Expanding consumer markets, rising disposable incomes, and its role as a global production centre for silicone fluid chemicals further contribute to the region's significant share in silicone oil consumption.
Based on the end-user industry, the global Silicone Oil market is segmented into Automotive, Cosmetics and Personal Care, Textile Industry, and Others. In 2022, Automotive industry is held a market share of roughly 48% in 2022. Applied as a lubricant for rubber components, including door seals and gaskets, Silicone Oil prevents drying and deterioration. Its use as an anti-friction coating aids in reducing wear between moving parts of machines in automotives. Functioning as a dielectric fluid, silicone oil insulates and cools electrical systems, ensuring optimal performance. Employed in shock absorbers, it dampens vibrations for a smoother ride. Serving as a thread sealant, it prevents leaks in fluid systems. Additionally, silicone oil safeguards rubber and plastic surfaces from environmental factors and acts as a mold release agent, streamlining production processes.
Major players in the Global Silicone Oil market are The Lubrizol Corporation, CES Silicones Europe, Momentive, Clearco Products Co., Inc., Haynes Manufacturing Company, Dow Corning Corporation, Wacker Chemie AG, Elkay Chemicals Pvt. Ltd., Shin-Etsu Chemical Co. Ltd, and Bluestar Silicones International.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Silicone Oil which covers production, demand and supply of Silicone Oil market in the globe.
• To analyse and forecast the market size of Silicone Oil
• To classify and forecast Global Silicone Oil market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Silicone Oil market in the globe.
To extract data for Global Silicone Oil market, primary research surveys were conducted with Silicone Oil manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Silicone Oil market over the coming years.
ChemAnalyst calculated Silicone Oil demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Silicone Oil. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Silicone Oil manufacturers and other stakeholders
• Organizations, forums and alliances related to Silicone Oil distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Silicone Oil manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Silicone Oil market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
820 thousand tonnes
Market size Volume in 2032
1460 thousand tonnes
Growth Rate
CAGR of 6% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Into Automotive, Cosmetics and Personal Care, Textile Industry, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Silicone Oil in terms of volume in 2022?
Ans:
The global market size of Silicone Oil has reached approximately 820 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Silicone Oil?
Ans:
Asia Pacific region is the leading consumer of Silicone Oil globally.
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