The global silicone fluids market size is projected to reach US$ 2.5 billion by 2022, and register CAGR of 5.6% over the forecast period (2019 - 2027).
Market Overview
Silicones, also referred to as polydiorganosiloxanes by chemists, are stable and resistant to heat, electromagnetic radiation, and other diverse influences. Silicone fluids are odorless, transparent liquids that can resist extreme environments, such as heat, cold, and moisture. They can sustain temperatures ranging from below 60°C to +300°C. Moreover, silicone fluids are much stable than organic rubbers or polymers when exposed to UV and electromagnetic radiation. Its wide range of characteristics include excellent stability, low volatility, water repellence, and low surface tension. The fluids’ viscosity is determined by their molecular weight, although they are majorly liquid.
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Market Dynamics
Owing to its numerous properties, silicone fluids have application as heat resistant lubricants, hydraulic fluids, transformer fluids, damping pump fluids, defoamers, dielectrics, and release agents in digital printing machines. They also have application in end use industries such as pharmaceuticals, cosmetics, and textiles as water repellants for glass treatment and other similar treatments.
Wide application of silicone fluids in industries, laboratories, and other applications in the medical sector is expected to contribute significantly to the market growth. Furthermore, demand for silicone rubbers in liquid form from industries such as electronics is expected to increase as a result of the comparatively easy process of manufacturing. Silicone gels have major application in surgical procedures such as breast implants. In the personal care industry, silicone is used in shampoos, oils, and face creams to induce spreadability and inhibit stickiness in oils. Properties such as heat resistance, solubility, and thermal stability are likely to drive demand for silicone fluids in the construction industry. In the automotive industry, silicone oils are used during the process of fan clutch assemblies.
Increasing cost of raw materials and processing is estimated to result in higher cost of production of elastic silicone elastomers, which in turn is likely to hamper growth of the market in the near future.
Market Outlook
Asia Pacific is the largest market for silicone fluids owing to factors such as increasing demand from the electronics industry, as well as the rapidly expanding automotive sector in emerging economies such as India and China. Other regions such as the Middle East, South America and Africa are also expected to witness steady industrialization and economic progress over the forecast period, and contribute significantly to the market share. The growth in North America market is expected to be slower compared to Asia Pacific as a result of the ongoing recovery from an economic crisis. However, the well-established automotive sector in countries such as U.K., Germany, Italy, and France has led to Europe emerging as the second largest market for silicone fluids. Furthermore, the growing scope of industrialization in Mexico is expected to benefit the North America.
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Key Players
Some of the prominent players in the global silicone fluids are Saint Gobain, Clariant International limited, Dow Corning Corporation, Caledonia Investments, Gelest Incorporated, KCC Corporation, and Quantum Silicones.
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