Silicone Fluids Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Key Highlights

• By application, the construction segment is expected to be the fastest growing segment, whereas the personal care and medical segment is estimated to have the largest share.
• Increasing usage in healthcare industry is projected to act as an opportunity for the market’s growth in the future.
• By region, Asia-Pacific is expected to dominate the global silicone fluids market, with the growth of electrical, construction, and personal care sectors in emerging economies, such as China, India, and the ASEAN countries.

Key Market Trends

Increasing Demand from Lubricants and Grease Manufacturing

• Silicone fluids or silicone oils are highly preferred for this application, as they offer excellent lubricating properties. They are used as a base fluid for lubricants.
• These fluids have a low thermal surface tension, low volatility, and excellent shearing resistance that further make them highly suitable.
• Due to the non-polar, non-reactive, and semi-inorganic structure of silicone fluids, a relative high incompatibility with chemicals results in their application as release agents and lubricants.
• Silicone fluids are mainly required for providing lubrication to steel-bronze, steel-aluminum, steel-zinc, and wood-wood interfaces and various plastics.
• Additionally, the demand for silicone fluids is likely to rise with the rising demand for lubricants across the world, from its end-user industries, including automotive and transportation, and heavy equipment.
• From the above-mentioned factors, the demand for silicone fluids is expected to increase in lubricants application, over the forecast period.

Asia-Pacific Region to Dominate the Market

• Construction sector in Asia-Pacific is the largest in the world. The increasing infrastructure construction activities are the major drivers for the Asia-Pacific construction industry. Rapid urbanization has led to a large number of construction projects majorly in China and India.
• China dominated the Asia-Pacific market share. The continuous improvements in economic conditions in the region have enhanced the financial status of the consumers, in turn, boosting the demand for buildings and other infrastructural activities in the country.
• China’s 13th Five Year Plan started in 2016 as it was an important year for the country’s engineering, procurement, and construction (EPC) industry. In addition to this, the country ventured into new business models domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country.
• China is the largest lubricant consumer in the region and the world. The rate of consumption is expected to remain the same in the country, irrespective of the economy witnessing a slow growth.
• China is the largest textile producing and exporting country in the world. With its rapid growth over the last two decades, the Chinese textile industry has become one of the main pillars of the country’s economy and contributes 7% to China's GDP.
• Owing to all these factors, the market for silicone fluids in the region is likely to increase in the coming years.

Competitive Landscape

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support