Market Overview
The global silicone oil market size was valued at USD 4.08 Billion in 2024 and is expected to reach USD 6.76 Billion by 2033. The market is projected to grow at a CAGR of 5.49% during the forecast period 2025-2033. Growth is driven by increasing demand from automotive and electronics industries, rising use in personal care and healthcare, rapid industrialization in emerging economies, and advancements in renewable energy projects.
Study Assumption Years
- Base Year: 2024
- Historical Years: 2019-2024
- Forecast Years: 2025-2033
Silicone Oil Market Key Takeaways
- The global market size was valued at USD 4.08 Billion in 2024, with a forecast to reach USD 6.76 Billion by 2033.
- The market is expected to grow at a CAGR of 5.49% from 2025 to 2033.
- Asia Pacific holds the largest market share with over 42.8% in 2024.
- Automotive sector accounts for 46.5% of the market share.
- The United States is the most prominent market, holding 83.7% of North America's market share.
- Growth drivers include demand in personal care, automotive, healthcare, and electronics industries.
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Market Growth Factors
- Growing Need in Cosmetics and Personal Care Industry
Silicone oil is widely used in skin care, hair care, and makeup products due to its exceptional spreadability, smooth texture, and long-lasting effects. Key silicone oils like dimethicone and cyclopentasiloxane are essential in cosmetic formulations. The global Beauty & Personal Care market is anticipated to generate USD 673.70 Billion by 2025, boosting silicone oil demand especially in emerging countries like Brazil and India where double-digit growths in cosmetics use are reported.
- Expanding Applications in the Automotive Sector
Silicone oil’s thermal stability and high-temperature tolerance make it crucial in lubricants, brake fluids, and polishes in automotive systems. With nearly 85 million cars produced worldwide in 2022, and one in five vehicles sold in 2023 being electric, silicone oil demand is rising for EV-specific lubricants and battery cooling systems. The US lubricants market alone is expected to reach USD 41.9 million by 2033.
- Increasing Utilization in Medical and Healthcare Industry
Silicone oil plays a vital role in ophthalmology, medical equipment lubrication, and drug delivery systems. Over one million retinal surgeries worldwide in 2023 highlight its importance. The global healthcare expenditure exceeded USD 10 Trillion in 2023, supporting growing medical technology adoption and thereby increasing silicone oil demand.
Market Segmentation
By Type:
- Straight Silicone Oil
- Modified Silicone Oil: Largest segment, known for maintaining performance under extreme heat and used in automotive lubricants, heat transfer fluids and renewable energy systems like concentrated solar power plants. It offers enhanced surface adhesion and longer lubrication important for machinery and medical devices.
By Application:
- Sealant
- Skin and Hair Care: Largest market share, valued for silky texture, easy spreadability, forming breathable protective barriers without clogging pores, suitable for sensitive and acne-prone skin.
- Textile Coating
- Chemical Intermediate
- Anti-foam Agent
- Release Agent
- Others
By End Use Industry:
- Chemical
- Construction
- Personal Care
- Textile
- Electronics
- Automotive: Holds 46.5% market share; silicone oil is used in lubricants, brake fluids (DOT 5), and thermal management in electric and hybrid vehicles ensuring performance and protection.
- Medical
- Others
Regional Insights
Asia Pacific dominates the silicone oil market with a share of over 42.8% in 2024. The region benefits from its large population, rapid industrialization, and growing automotive production, especially in countries like India, Japan, and South Korea. The demand for silicone oil extends across automotive lubricants, personal care, healthcare, electronics, and renewable energy sectors, driven by government adoption policies for electric vehicles and renewable energy subsidies.
Recent Developments & News
In May 2024, Momentive Performance Materials Group was fully acquired by KCC Corporation, Wonik QnC Corporation, and SJL Partners to strengthen KCC's global presence in silicones and specialty materials. The European Union proposed new rules for the use of specific silicone oils in cosmetics in May 2024 due to possible health risk concerns. In December 2023, the US FDA approved a novel medical device based on silicone oil to treat glaucoma.
Key Players
- Aurolab (Aravind Eye Care System)
- BRB International B.V.
- China National Bluestar (Group) Co. Ltd. (China National Chemical Corporation)
- CHT Group
- Clearco Products Co. Inc.
- Dow Inc.
- Evonik Industries AG
- Iota Silicone Oil (Anhui) Co. Ltd.
- Merck KGaA
- Momentive Performance Materials Inc.
- Shin-Etsu Chemical Co. Ltd.
- Siltech Corporation
- Thermo Fisher Scientific Inc.
- Wacker Chemie AG.
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