Increased demand from the personal care & beauty end-user industry leading to need for Silicone Fluid is expected to promote market growth.
Covid-19 Impact & Market Status
With the rise of COVID-19 cases, the implementation of emergency legislation and the closure of various operations and facilities have been recognized by the year 2020. The outbreak of COVID-19 in Wuhan, China, has spread across the larger APAC, Europe and North America. countries, affecting the silicone liquid market as most of the world’s companies have their headquarters in these countries. This effect of COVID-19 has created a disruption in the supply chain, which has delayed market growth due to lack of resources and unavailability of workers.
By 2020, the market for silicone fluids had a much lower impact on the COVID-19 epidemic with a psychological decline in CAGR. The market is disrupted by declining raw material production, supply disruption, and trade disruption by 2020. The industries used in the latter, such as construction and construction, textiles and Personal care & beauty and transportation, were affected by the epidemic.
Personal care and beauty segment has Accounted for Highest Revenue during the Prediction Period
In the field of end use, personal care and beauty are expected to be the largest segment of the market for silicone fluids. The personal care and beauty industry uses silicone fluid on a large scale due to its versatility and unique properties. Silicone fluids are used in personal care products, such as cosmetics, soap, shampoo, deodorant, face cream, and cosmetics. They offer a number of performance benefits, including a stable rheological foundation with delivery benefits and good compatibility with other solvents, active ingredients, and flawless ingredients in the formula. They spread evenly and give a silky and cushioning feeling to the skin. They are also used in the manufacture of home care products, such as furniture polish, detergents, toiletries, pesticides, perfumes, and more. The high growth rate is due to the increase in the use of personal care and home care products due to the increase in total consumer income in developing countries.
High Opportunities In Healthcare Segment
The outbreak of COVID-19 has dramatically changed the demand for HPPAs worldwide due to declining demand in the Personal care & beauty, electronics and electronics industries, industrial, Building & construction, and other end use industries. The epidemic suddenly disrupted the operation and sale of goods around the world in various industries, which in turn slowed down the market growth of HPPAs. Different countries have put a lockdown to prevent the spread of the virus. Europe and North America are the regions most affected by COVID-19. Companies need to deal with the sudden impact of the epidemic and must work effectively in their markets and upgrade their distribution network to meet the immediate needs of HPPAs and cope with sudden market fluctuations.
APAC Region to Hold the Highest Revenues during the Predicted Period
APAC has the largest market share of about 46.0%, according to the 2020 figure. The growing population and the rapid growth of cities are among the key drivers of industrial growth in the region. Demand for domestic demand, as well as the availability of affordable materials and labor, makes APAC a lucrative market for regional-focused producers to gain market share and increase profits. Manufacturers of silicone liquids have ruled the country because of the benefits of setting up production facilities, lower production costs, and the ability to better operate in emerging domestic markets.
Silicone fluids are colorless and transparent liquids. These liquids exhibit high resistance to heat and cold. Silicone fluids are also moisture resistant. Over a wide temperature range, silicone fluids exhibit very low change in viscosity. Additionally, silicone fluids are noted for various other characteristics like mold releasability, lubricity and defoaming properties. Silicone fluids can withstand low temperatures and maintain flow ability even at -65°C. Moreover, silicone fluids have few or no adverse effects on metals and other materials. Silicone fluids are almost completely inactive show no effects on alkali solutions at room temperatures. These fluids have considerably lower surface tension as compared to water and common synthetic oils. Silicone fluids have strong and more stable bonds; hence, they are more resistant to harsh environmental processing and operating conditions. These fluids are non-toxic and inert and also permeable to gas and water vapor.
Silicone liquids are flexible products used in a variety of industries. They have unique features, such as UV stability, gloss, lightness, radiation resistance, hydrophobicity, heat resistance, durability, electricity, adhesion, foam control, extraction safety, and flexibility, making them suitable for use in many forms and applications. Silicone veneers are mainly used for special applications or applications that need to withstand extreme weather conditions. Silicone liquids can adapt to extreme temperature fluctuations (from 76 ° F to 572 ° F) and have high stability in all types of radiation, especially UV, to withstand external exposure. Due to its high resistance to electricity, it is also used in the electronics and electronics industries.
Silicone fluid helps improve motor performance by providing excellent oil and cooling resistance, good heat resistance, and a low pressure set. Therefore, silicone liquids are widely used in the Personal care & beauty industry. In recent years, car manufacturers have been focusing on increasing car safety requirements and developing similar solutions. Systems in the car are being continuously developed with new technologies to achieve fuel economy, comfort (climate control and geographical system), entertainment, among other benefits. Therefore, silicone liquids are widely used in these systems. Their unique architecture helps producers in providing custom solutions to their customers through their specific applications.
Silicone fluid has many high properties, making it suitable for use in health care. New research and studies have shown that silicone fluid can be used effectively in retinal detachment, diabetes, among other health care applications. Due to the non-toxic nature of silicone liquids, it is used in aerosol-based anti-foam drugs. Silicone fluid in the oil increases the ability of the drug to penetrate the skin, thus improving efficiency. Silicone-based creams are used to treat burns, dermatitis, among other purposes. The demand for health care products for young people growing up around the world is growing. Health care remains a strong market growth target for silicone fluids, as research and research are underway to establish more use of silicone fluids in this sector.
The global Silicone Fluid market is projected to be around USD 6,436.54 million by 2028, at a CAGR of 5.6 % during the prediction period.
Furthermore, technological advancements and increased investment in this sector are likely to boost the global Silicone Fluid market ahead throughout the forecast period.
The market is fragmented due to the growing number of consumer industries that use of Silicone Fluid. High demand from end users has posed a serious rivalry in the market, leading to industrial fragmentation.
Market players in the global Silicone Fluid market are expected to invest in new technologies. Moreover, the success of these vendors depends largely on their willingness to embrace innovation. Some of the major manufacturers in the industry are The Dow Chemical Company, Wacker Chemie AG, Elkem ASA ,Momentive, Shin-Etsu Chemical Co, Gelest inc, KCC Basildon Inc , and others.
Key Findings in the Global Silicone Fluid market: a Snapshot
- Key players working in the Silicone Fluid market are producers and suppliers of tier I and tier II. The production and distribution centers of these players are spread across various countries in Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa.
- Increasing demand for more productivity is attracting international players to invest more in the supply of their products. Manufacturing companies are focused on expanding their businesses in the undeveloped Latin American markets.
- The outbreak of COVID-19 undermines the shut of business in many industries. Governments around the world have pushed for the closure of the door to control the spread of the disease. This has resulted in a decline in the production and production capacity, restrictions on supply and transportation, and a decline in infrastructure. Subsequently, this has led to a reduction in the demand for Silicone Fluid worldwide
This market research study was created by compiling data from primary and secondary sources. Secondary research was conducted using a variety of sources, including (but not limited to) SEC filings, company websites, technical journals, paid data sources, financial reports, and other industry publications. In addition, to acquire first-hand data, the research methodologies perform comprehensive primary research with important industry players. Industry specialists then examine and validate the data.
Silicone Fluids Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 6,436.54 million|
|Growth Rate||CAGR of 5.6 % during 2021-2028|
|Segment Covered||Product Type, Application, Region|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||The Dow Chemical Company, Wacker Chemie AG, Elkem ASA ,Momentive, Shin-Etsu Chemical Co, Gelest inc, KCC Basildon Inc , and others.|
Key Segments of the Global Silicone Fluid market
Product Type Overview, 2018-2028 (USD Million)
Application Overview, 2018-2028 (USD Million)
- Personal care & beauty
- Building & construction
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa
- Saudi Arabia
- Rest of MEA