Silicone Oil Market: Overview
- Silicone oil is also known as polydimethylsiloxane (PDMS). Silicone oil contains silicon–oxygen linkages, which are considered stronger than the typical carbon-to-carbon chains present in hydrocarbon fluids. Hence, demand for silicone oil is high.
- Silicone oil is employed in various industries such as automotive, cosmetics & personal care, pharmaceutical, electronics, textile, and chemical
- Silicone oil is transparent, non-toxic, odorless, and inert. It has electric and thermal stability, which makes it suitable for usage in various industrial applications.
Key Drivers and Restraints of Silicone Oil market
- Increase in demand for cosmetics, personal care products, and pharmaceutical products is expected to drive the global silicone oil market in the near future. Silicone oil possesses properties such as low density, high viscosity, and non-toxicity; as a result, demand for silicone oil is high in sectors such as cosmetics & personal care and pharmaceutical.
- Growth of automotive, chemical, and electronics sectors across the globe is anticipated to boost the global silicone oil market during the forecast period. Properties of silicone oil such as water resistance, lack of odor, nontoxicity, inertness, and electric and thermal stability are expected to drive the global silicone oil market during the forecast period.
- Increase in awareness about environment protection across the world is expected to drive the global silicone oil market during the forecast period. Silicone oil is a biocompatible and biodegradable material. Led by its eco-friendly properties, the demand for silicone oil is expected to increase in the near future.
- Limited availability and fluctuating costs of raw materials are major restraints of the global silicone oil market
Global Silicone Oil Market: Segmentation
- The global silicone oil market can be segmented based on type and end-user industry
- Based on type, the global silicone oil market can be segmented into straight silicone fluid and modified silicone oil. The modified silicone oil segment is expected to dominate the global market between 2021 and 2031. Modification of silicone oil can be achieved by adding amino, carboxyl, methacryl, or dimethyl group to its structure, which imparts additional properties such as water repellency, absorbability, flexibility, and lubricity. Thus, demand for modified silicone oil is expected to rise significantly during the forecast period.
- In terms of end-user industry, the global silicone oil market can be classified into cosmetics & personal care, pharmaceutical, automotive, chemical, electronics, textile, and others. The cosmetics & personal care segment is projected to expand at a rapid pace during the forecast period.
Global Silicone Oil Market: Regional Segmentation
- In terms of region, the global silicone oil market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is a highly lucrative region of the global silicone oil market. The market in North America is expected to expand at a significant CAGR during the forecast period. The U.S. is expected to lead the silicone oil market in North America during the period.
- Asia Pacific held major share of the global silicone oil market in 2020. The market in the region is expected to expand at a significant pace during the forecast period, as countries such as China, Japan, and India witness high demand for silicone-oil-based cosmetic and personal care products as well as pharmaceutical products. In terms of consumption, China holds major share of the market in the region.
- Europe was also a key region of the global silicone oil market in 2020, driven by rising demand for the oil in pharmaceuticals and renewable energy sectors for applications in windmill and solar panels as coatings, sealants and adhesives
- The market in Latin America and Middle East & Africa is expected to expand at a steady pace during the forecast period
COVID-19 Impact on Global Silicone Oil Market
- The COVID-19 pandemic has adversely affected the global silicone oil market. Manufacturing and power sector activities across the globe suffered temporary shut down during the lockdowns. Measures such as social distancing also impacted operations. However, demand recovery in manufacturing as well as power sector after lockdowns is likely to boost the silicone oil market in the near future.
Key Players in Market
The global silicone oil market has a highly competitive landscape. It is dominated by the presence of various prominent players across the globe. Prominent players operating in the silicone oil market include:
- Momentive Performance Materials Inc.
- CHT UK Bridgwater Ltd.
- Evonik Industries AG
- Wacker Chemie Ag
- Dow Corning Corporation
- Shin-Etsu Corporation
- KCC Basildon
- Gelest Inc.
- Siltech Corporation
- Merck KGaA
Global Silicone Oil Market: Research Scope
Global Silicone Oil Market, by Type
- Straight Silicone Oil
- Modified Silicone Oil
Global Silicone Oil Market, by End-user Industry
- Cosmetics & Personal Care
Global Silicone Oil Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.