How big is the silicone oil market?

The global silicone oil market size was valued at USD 4.61 billion in 2023 and is expected to reach USD 4.84 billion in 2024.

What is the silicone oil market growth?

The global silicone oil market is expected to grow at a CAGR of 4.9% from 2024 to 2030 to reach USD 6.43 billion by 2030.

Which segment accounted for the largest silicone oil market share?

Lubricants segment dominated the market with a revenue share of over 32% in 2023.

Who are the key players in silicone oil market?

Key players operating in the silicone oil market include Wacker Chemie AG; BCD Chemie GmbH; Clearco Products Co, Inc.; AL.CHI.MI.A. srl; Elkem ASA; Silitex S.r.l.; LHCHEM; and ARIHANT SOLVENTS AND CHEMICALS, among others

What are the factors driving the silicone oil market?

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.