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In a recent published report, Kenneth Research has updated the market report for Silicone Oil Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Silicone Oil Market products.
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Global Silicone Oil Market
By Application (Textile, Automotive, Energy, Industrial, Agriculture, Personal Care & Home Care), End-Use (Heat Carrier, Lubricant, Working Media, Water Repellant) and Regional Market Size, Status and Forecast to 2025
The global Silicone Oil market was valued at USD 1.95 billion in 2016 and is projected to reach USD 2.95 billion by 2025, growing at a CAGR of 4.7% from 2017 to 2025.
A silicone oil is polymerized siloxane with organic side chains. The growing demand for silicone derivatives in various industries is boosting the demand for silicone oil. The substitution of traditional lubricants with silicone oil will aid market growth over the forecast period.
1. Market Drivers
1.1 Increasing demand for silicon based products
1.2 Growing R & D efforts in the silicon industry
2. Market Restraints
2.1 High cost of final product
The global Silicone Oil market is segmented on the application, end-use and region.
1. By Application:
1.4 Personal Care and Home Care
2. By End-Use:
2.1 Water Repellants
2.2 Working Media
2.4 Heat Carrier
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. Wacker Chemie AG
2. DOW Corning
3. Momentive Performance Materials
4. Bluestar Silicones
5. Shin-Etsu Chemicals
6. Iota Silicone Oil Co. Ltd
7. M.R. Silicone Industries
8. Clearco Products
9. ACC Silicones
10. KCC Basildon Chemical Company
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Silicone Oil market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the Research Methodology of Verified Market Intelligence and other aspects of the research study, kindly get in touch with our sales team.
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