Silicone Oil market size is forecast to reach US$ 1.9 billion by 2026, after growing at a CAGR of 3.8% during 2021-2026. A silicone oil is any liquid polymerized polysiloxanes with organic side chains. The most prominent member is polydimethylsiloxane. There are distinctive types of silicone oils, varying from each other based on their viscosity and the properties shown by them. The alterations are based on their viscosity and molecular weight. These polymers are of commercial interest because of their relatively high thermal stability and their lubricating properties. Silicone oil market is dominated by the personal care sector especially for dimethicone and Dimethylpolysiloxane in skincare products. The global silicone oil market is anticipated to grow in the forecast period on account of rapidly increasing applicability across carious industries such as medical, personal care automotive, and construction industries. The Asia-Pacific region is expected to be the fastest-growing region during the forecast period.
COVID-19 Impact
The COVID-19 pandemic has hindered the silicone oil market. Due to nationwide lockdowns, severe social distancing, and disruption in the worldwide supply chain, nearly all of the factories and industries were entirely shut down globally, which negatively impacted the building and construction, personal care, automotive thus declining the demand for silicone oil. However, the increase in demand from the healthcare, and consumer products sector due to increasing awareness for health and hygiene has been stimulating the market demand for silicone oil.
Report Coverage
The report: “Silicone Oil Market- Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Silicone Oil Industry.
By Type: Modified silicone (Reactive silicone, Non-reactive silicone), Straight silicone (Dimethyl silicone, Methylphenyl silicone, and Methylhydrogen silicone)
By Product: Release agents, Lubricants, Damping media, Hydraulic fluids, Liquid dielectrics, Water repellents, Antifoam agents, Formulations, and Others.
By Application: Additives (Cosmetics Products, Paints and Coatings), Solar Cells, Packaging, Pharmaceutical, Home care, Rubber and Plastic, Consumer goods, and Others.
By End-Use Industry: Building and Construction, Automotive, Electrical & Electronics, Medical and Healthcare, Personal Care and Cosmetics, Aerospace and Defense, Food and Beverages, Oil and Gas, Chemicals, Agriculture, Energy, Paper and Pulp, and Others
By Geography: North America (USA, Canada and Mexico), Europe (UK, France, Germany, Italy, Spain, Russia, Netherlands, Belgium, and Rest of Europe), APAC (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), and RoW (Middle East and Africa).
Key Takeaways
Asia Pacific dominates the Silicone Oil Market owing to rapid increase in Personal care and Healthcare sector.
The market drivers and restraints have been assessed to understand their impact over the forecast period.
The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
The other key areas of focus include the various applications and end use industry in Silicone Oil Market and their specific segmented revenue.
Due to the COVID-19 pandemic, most of the countries have gone under temporary shutdown, due to which operations Silicone Oil related industries has been negatively affected, thus hampering the growth of the market.
Figure: Silicone Oil Market Revenue, By Geography 2020-2026 (US$ Billion)
Silicone Oil Market
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Silicone Oil Market Segment Analysis - By Type
Straight silicone held the largest share of 54% in the Silicone Oil Market in 2020. Silicone oils usually refer to the linear polysiloxane products which can maintain the liquid state at room temperature. Silicone fluids are generally divided into methyl silicone oils and modified silicone oils. The most commonly used silicone fluids are methyl silicone fluids. Dimethyl silicone oil is inert to organisms and has no rejection reaction with animals. Therefore, they have been broadly used in surgery, internal medicine, medicine, food and cosmetics. Owing to its properties such as non-toxic, tasteless and physiologically inert, it is in high demand in the personal care, healthcare and others sectors and expected to grow rapidly in the forecast period.
Silicone Oil Market Segment Analysis - By Product
Water repellents held the largest share of 34% in the Silicone Oil Market in 2020. Silicone oil holds an exceptional water repellency possession. When silicone oil is directed to a substrate, the contact angle of silicone oil causes water to be repelled. Silicone oil is applied in leather treatment, surface treatment for building materials, and coatings for roofs, masonry, additives for paints, inks and protective coatings, and others. Silicone oil also makes the skin product non-toxic, form a water repellent film which allows the skin to breathe and does not irritate it. For example, Elkem have recently launched a second personal care brand of silicone chemistry in 2020. And in 2019 BeautyStat has introduced its Universal C Skin Refiner, each particle is encapsulated in a water-repellent matrix that prevents oxidation, and gives immediately smooth, hydrate, brighten, retexturize and even skin tone. The rapid increase in the demand for water repellents products has escalated the demand for the Silicone Oil.
Silicone Oil Market Segment Analysis - By Application
Additives dominates the Silicone Oil Market growing at a CAGR of 4.8% in 2020. Silicone Oil is used as additives in paints and coatings, cosmetics, homecare and others. It is mostly used in paints so the oil rises to the surface, bringing colors with it and creating movement in the paint, which creates cells. Typically, torching leads to lots of small cells, rather than fewer, larger cells. Silicone oil is in high demand in paints and coating industry owing to its properties such as light, neutral, and creates perfect cells. It's also inexpensive and predictable. For instance, in 2020 Nippon Paint, part of the NIPSEA Group, with a sales rate of $5.944 billion in 2019 has launched a new range of industrial paints under the Protec brand. On the other hand, in 2021 Aditya Birla Group’s Grasim to enter paints business with US$ 689 million investment. With the rapid initiatives and investments in the paint and coating sectors will enhance the growth rate of silicone oil market.
Silicone Oil Market Segment Analysis - By End-Use Industry
Personal Care and Cosmetics dominates the Silicone Oil Market growing at a CAGR of 5.77% in 2020. Silicone oil is extensively used in myriad personal care applications owing to its versatility, biocompatibility, conditioning benefits, low surface tension, high permeability, and pressure-sensitive properties. It is widely used in skincare and haircare products. For instance, Nivea, a global personal care company with a sales rate of US$ 5.2 Billion in 2019 claims that they use approximately 30 different silicones, and about 20% of products globally mainly leave-on products, like face creams and lotions or deodorants, contain silicones. On the other hand, personal care and household section account for 50% of Fast-moving consumer goods (FMCG) sales in India, which is the fourth largest sector in India. So, the development in personal care growth will certainly enhance the growth rate of the Silicone Oil Market in the forecast period.
Silicone Oil Market Segment Analysis - Geography
Asia Pacific region held the largest share in Silicone Oil in 2020 up to 34% followed by North America and Europe. The rapid industrialization reinforced by the government for improving the economy accelerates the growth of the automotive, healthcare, and cosmetics industry. Moreover, the constantly emerging population in the region and the increasing concern of individuals to invest more on their health and personal care are the primary reasons for powering the expansion of silicone oil in the regional market. According to World Health Organization (WHO), China’s government health expenditure was US$ 256 billion in 2018, tripled since health reforms. Whereas in India, the government announced an US$ 8.80 billion outlay for the healthcare sector over six years in the Union Budget 2021-22. Besides, India's e-commerce orders volume increased by 36% in the last quarter of 2020, with the personal care, beauty, and wellness (PCB&W) segment being the largest beneficiary. Besides, China’s imports of cosmetics from Japan in 2020 soared more than 30% from the previous year to about $4.3 billion surpassing $3.3 billion from South Korea and other major suppliers such as France and the United States, according to the Japan External Trade Organization (JETRO). Such increase in revenues and developments in personal care, healthcare industries along with others will bring tremendous growth to the Silicone Oil Market.
Silicone Oil Market Drivers
Use of Silicone Oil in Healthcare field
Silicone Oil such as methyl silicone fluid and dimethyl silicone is extensively used in the field of medical and health because of its exceptional characteristics such as colorless, volatile, tasteless, non-toxic. Silicone oils are important tools in vitreoretinal surgery because they have the ability to displace aqueous humor from the retinal surface, maintaining the adhesion between the retina and retinal pigment epithelium. It is also used as lubrication, defoaming, fillers on the body surface. According to National Plastic Surgery Statistic approx. 2.3million people in United States have undergone plastic surgery in 2020. Also, about 400,000 women a year get implants, 75% for cosmetic reasons and the rest for reconstruction after breast cancer surgery. The Food and Drug Administration (FDA) has approved the use of liquid silicone in implant surgery only because implants hold liquid silicone contained inside a shell. The rapid growth with aesthetic related surgery has brought an escalation in the growth of the silicone oil market.
Silicone Oil to enhance the performance of Agriculture Chemicals
Silicone Oil can be used as a formulation ingredient in pesticide products, to enhance the performance of agricultural chemicals, especially water-soluble broadleaf herbicides, insecticides, fungicides and plant growth regulators. Silicone agricultural spray adjuvant can not only help to improve the yield but also can reduce the adverse effects of pesticides on the environment. It can make the agricultural chemicals spraying play a better effect and when spraying pesticide, it can save up to 50% of water. This can reduce the waste, and reduce the loss to the amount of pesticide in soil and groundwater, thereby reducing the pesticide residues in the environment. For instance, Momentive launched Silwet ECO, produced from modified silicone only adjuvant approved in Brazil for organic agriculture, which can maximize spray coverage by up to 10 times and which eliminates up to 70% of the volume of water applied. On the other hand, in 2021 Univar Solutions, a global chemical and ingredient distributor and provider expanded and Partnership with Dow to Distribute Agricultural Silicone-based Foam-Control Products in Mexico. Such type of initiatives and geographical expansion will have a positive impact on the Silicone Oil Market.
Silicone Oil Market Challenges
Silicone Oil can be Toxic to Human Body
Silicone Oil is widely used in cosmetic and surgical implants however liquid silicone may block blood vessels in parts of the body like the brain, heart, lymph nodes, or lungs, leading to an extremely dangerous situation. Moreover, The Food and Drug Administration (FDA) has warned that injected liquid silicone may move throughout the body and can cause serious health consequences, including death. Such risk to the human body due to silicone oil may have a negative impact on the growth of the Silicone Oil Market.
Silicone Oil can cause Cataract and Optic Neuropathy
Silicone oil can cause keratopathy, glaucoma, optic neuropathy, and cataract. There have been reports of severe vision loss with long-term use of silicone oil tamponade. The oil droplets infiltrate various ocular tissues, including the retina and it can migrate into the brain. Such huge conflicts by the use of silicone are certainly hinder the growth of the Silicone Oil Market.
Silicone Oil Market Segment Analysis Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the UV-Curable Adhesives. Major players in the Silicone Oil Market are Wacker Chemie A.G, Dow Corning Corporation, Momentive Performance Materials Inc., Shin-Etsu Chemical Co., Ltd, Bluestar Silicones International Co., Ltd, ACC Silicones Ltd., BRB International B.V., Siltech Corporation, Evonik Industries AG.
Acquisitions/Technology Launches/ Product Launches
In February 2021, Rui Silicone subsidiary Ruijiang has launched a new methyl hydrogen silicone oil RJ-202 plant in China after completion of a successful test run on 10 February 2021. The plant will supply the gypsum wallboard industry with methyl hydrogen silicone oil for use as a waterproofing additive.
In May 2020, WACKER, Munich-based chemical company launched New Silicone Fluid Emulsion BELSIL DM 3200 E and the gloss agent BELSIL PF 100 for Formulating Shampoos and Conditioners.
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