Silicone oil is a type of synthetic fluid derived from silicone, which is a polymer made up of silicon, oxygen, carbon, and hydrogen. It possesses several unique properties such as high thermal stability, low surface tension, excellent lubricity, and resistance to high and low temperatures. These characteristics make silicone oil useful in various industries and applications. The global silicone oil market size is projected to reach USD 2.41 Billion by upcoming years from estimated USD 1.78 Billion in 2014, at a CAGR of 4.85%. Increasing demand for silicone oil from the end-user industries such as personal care & home care, automotive, industrial and demand from emerging economies such as China, India, and Brazil is mainly driving the growth of the market.

Browse 94 market data Tables and 63 Figures spread through 154 Pages and in-depth TOC on "Silicone Oil Market by End-Use Industry (Industrial, Personal Care & Homecare, Textile, Energy, Automotive & Transportation, Agriculture, Others), by Application (Lubricants, Water Repellants, Working Media, Heat Carrier) and by Region

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The major silicone oil manufacturers are Dow Corning Corporation (U.S.), Wacker Chemie A.G. (Germany), Shin-Etsu Chemical Co. Ltd. (Japan) and other global players, have a strong foothold in the Asia-Pacific market. Rapid industrialization in these regions is also a driving factor the growth of the silicone oil market.

Silicone Oil Market Growth

The silicone oil market has been experiencing steady growth over the years, driven by increasing demand from several end-use sectors. Some key applications of silicone oil include:

1. Personal care and cosmetics: Silicone oil is used in skincare and haircare products due to its emollient and conditioning properties. It provides smoothness, shine, and moisture to the skin and hair.

2. Pharmaceuticals: Silicone oil is used in ophthalmic surgeries as a vitreous substitute. It helps maintain the shape and structure of the eye during and after surgery.

3. Automotive: Silicone oil is utilized as a lubricant and coolant in automotive components such as shock absorbers, braking systems, and power steering systems.

4. Textile: Silicone oil is employed as a textile softener and finishing agent to improve the fabric's smoothness, flexibility, and anti-static properties.

5. Electrical and electronics: Silicone oil is used as an insulating fluid in transformers, capacitors, and high-voltage equipment due to its excellent dielectric properties and thermal stability.

6. Industrial applications: Silicone oil finds applications in various industries for lubrication, damping, heat transfer, foam control, and as a release agent in molding and casting processes.

Lubricants: the largest application segment of the silicone oil market

Among the various applications, the lubricants segment holds the largest share in the silicone oil market. This large share is attributed to the increasing use of silicone lubricants compared to mineral lubricants as silicone oil lubricants have unique physical and chemical properties. Silicone oil lubricants can withstand high temperature range and possess good dielectric property. Silicone oil based lubricants are widely used in industrial processing such as polymer production, yarn and thread production, textile finishing, and so on. However, water repellents application segment is expected to grow at the highest CAGR.

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Personal care & home care industry: the largest consumer of silicone oil among end-use industry

Silicone oil is majorly consumed by the personal care & home care industry, thus holding the largest share in the silicone oil market as compared to other end-use industries. This industry is projected to dominate the market of silicone oil in near future and is the fastest-growing market for silicone oil during 2015 and 2020. Silicone oil is extensively used in myriad homecare & personal care applications owing to its versatility, biocompatibility, conditioning benefits, low surface tension, high permeability, and pressure sensitive properties. The aging population in the North America region and the growing demand from consumers for improved quality personal care products is driving the market of silicone oil.

Asia-Pacific – The most dominant region in the global silicone oil market

The silicone oil market in Asia-Pacific accounted for the largest share of the global silicone oil market, in terms of volume, in 2014. It is expected to account for the largest share of the market by 2020 due to the increasing demand for personal care products such as hair care products, skin cream, and color cosmetics and so on, from the developing countries such as India and China.