[154 Pages Report] The global silicone oil market was valued at USD 1.78 Billion in 2014 and is expected to reach USD 2.41 Billion by 2020, at a CAGR of 4.85% from 2015 to 2020. Increasing demand from end-use industries such as personal care and automotive, increasing demand from emerging economies such as China, India, Brazil, and favorable properties of silicone oil are some of the drivers for the growth of this market.
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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.
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.
Many companies such as Dow Corning Corporation (US), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co. Ltd. (Japan), Bluestar Silicones International (France), Momentive Performance Materials Inc. (US), and others have a backward integrated network to meet their production demands. The demand for silicone is largely due to personal care & home care industry, automotive industry, and industrial uses of silicone oil and others.
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