Silicone Oil Market Size, Share & Trends Analysis Report By Application (Lubricants, Water Repellents), End Use (Automotive, Healthcare), By Region (North America, Europe), And Segment Forecasts, 2024 - 2030

Silicone Oil Market Size & Trends

The global silicone oil market size was estimated at USD 4.61 billion in 2023 and expected to grow at a CAGR of 4.9% from 2024 to 2030. Increasing demand from the personal care sector in emerging economies and rapid growth in applications in the automotive, healthcare and construction industries are expected to drive market growth during the forecast period.

One of the prominent trend in the market is the emerging popularity and increasing adoption of persona; care products. The increasing urbanization is creating demand for personal care products such as shampoos, creams and cosmetics as silicone oil helps improve the quality of these products due to its superior characteristics. These factors are expected to drive the market growth.

Drivers, Opportunities & Restraints

The global silicone oil market has witnessed significant growth in recent years, driven by rising demand for silicone-based products and advancements in technology.Silicone oil can be used as a lubricant, fabric softener, waterproofing agent and finishing agent, including in the silicone textile and clothing industry. This is expected to create demand for silicone oil in the coming years.

The growth in automotive sector presents a huge opportunity for the market as it is expected to propel the demand for thermal and lubricating oils. Apart from this, the growing demand for electronic circuit boards will also complement the demand for silicone oils as they are widely used in conformal coatings.

The market is growing at a rapid rate, however the market faced various challenges. The production of silicone oil involves complex processes and high energy consumption, resulting in high production costs. These costs may limit its widespread adoption, especially in price-sensitive markets.

Application Insights

The lubricants segment dominated the market with a revenue share of 32.72% in 2023. Silicone oils are known for their stability and effectiveness over a wide range of temperatures, from very low to very high. This makes them ideal for applications where traditional lubricants may fail, such as aerospace, automotive, and industrial applications.Silicone oils can be used in a wide variety of applications, including automotive lubricants (e.g., transmission fluid, brake fluid), industrial equipment, electrical and electronic equipment, and even personal care products such as hair clippers and razors.

Water repellents is another significant application which is expected to grow significantly over the forecast period. Silicone oil offers excellent water repellent properties, making it very effective in preventing water penetration and moisture damage. Silicone-based water repellents provide long-lasting protection against water, weather and environmental factors. This makes it ideal for use in the construction, textile and automotive.

End-use Insights

The personal care segment led the market with the revenue share of 37.62% in 2023. Silicone oil is widely used in the personal care industry due to its unique properties, which contribute to its popularity and market growth.Silicone oils offer a various benefits, such as non-greasy, making them ideal for use in a variety of personal care products, including lotions, creams, hair care and cosmetics.

The automotive segment is expected to grow at a significant CAGR over the forecast period. Silicone oils demonstrate excellent stability and performance over a wide range of temperatures, from very low to high temperatures.Global growth in automobile production, driven by growing demand for vehicles in emerging markets, is increasing the need for high-performance materials such as silicone oils. The expanding automotive sector is likely to positively impact the demand for silicone oil-based products.

Regional Insights

The North America region has a well-established infrastructure and culture that promotes technological innovation, leading to increased adoption of advanced materials, including silicone oils, in various industries. The personal care and cosmetics industry in North America is characterized by high consumer spending on premium products. Silicone oils are widely used in skin care, hair care and cosmetics due to their smooth texture and moisturizing properties. The growth in personal care and cosmetics industry is expected to boost the demand for silicone oil across the region.

U.S. Silicone Oil Market Trends

The U.S. market dominated the North American market is expected to grow at a significant rate in the coming years. The US industrial sector, including the manufacturing and manufacturing industries, uses silicone oils in lubricants, sealants and coatings. The need for high-performance and durable materials is expected to drive the demand for silicone oils.

Europe Silicone Oil Market Trends

The market in Europe is experiencing significant growth due to several key drivers. The European construction sector growth along with a focus on durable and high-performance materials is expected to create demand for silicone oil in the region.

Asia Pacific Silicone Oil Market Trends

Asia Pacific dominated the global market and accounted for largest revenue share of over 32% in 2023. The rapid pace of industrialization and urbanization in countries such as China, India and Southeast Asian countries has led to an increase in the demand for silicone oil in various industries including construction, automotive and electronics.Silicone oils are widely used in lubricants, sealants and other automotive applications, fueling market growth in this sector. The rise in automotive industry across the region is expected to drive the market growth.

Key Silicone Oil Company Insights

The market is highly competitive, with several key players dominating the landscape. Major companies include Wacker Chemie AG, BCD Chemie GmbH, Clearco Products Co, Inc., AL.CHI.MI.A. srl, Elkem ASA, and Silitex S.r.l. The market is categorized by a competitive landscape with several key players driving innovation and market growth. Major companies in this sector are investing heavily in research and development to enhance the performance, cost-effectiveness, and sustainability of their products.

Recent Developments

• In July 2024, Trelleborg Group completed the acquisition of Baron Group, a preeminent global leader in the precision manufacturing of silicone components. This strategic acquisition expands Trelleborg's ability to produce high-quality silicone solutions, further strengthening its position in the industry.

• In February 2023, BRB Silicones announced the launch of a special silicones BRB SF 1802 for car care.BRB SF 1802 is a polydimethylsiloxane with low viscosity aminoalkyl functionality. It is a curable and non-reactive amino silicone that exhibits improved storage stability compared to its reactive counterparts. BRB SF 1802 is intended for use in car care products; however, it can also be used in home care formulations.

• In February 2021, Rui Silicon2e's subsidiary Ruijiang announced the commencement of a new RJ-202 methyl hydrogen silicone oil production plant in China. The plant will supply methyl hydrogen silicone oil for the production of gypsum boards for use as a waterproofing additive.

Silicone Oil Market Report Scope

Global Silicone Oil Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global silicone oil market report on the basis of application, end use, and region:

• Application Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

  • Lubricants

  • Water Repellents

  • Working Media

  • Heat Carrier

  • Others

• End Use Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

  • Automotive

  • Healthcare

  • Personal Care & Cosmetics

  • Aerospace

  • Others

• Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • Italy

    • Spain

    • France

    • The Netherlands

    • Denmark

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Indonesia

    • Thailand

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • South Africa

    • UAE