[FURL=https://www.industryarc.com/Report/15175/silicone-oil-market.html?utm_campaign=paidpressrelease&utm_medium=pressrelease&utm_source=briefingwire]Silicone Oil market[/FURL] size is forecast to reach US$ 1.9 billion by 2026, after growing at a CAGR of 3.8% during 2021-2026. A silicone oil is any liquid polymerized polysiloxanes with organic side chains. The most prominent member is polydimethylsiloxane.Key Takeaways
Asia Pacific dominates the Silicone Oil Market owing to rapid increase in Personal care and Healthcare sector.
The market drivers and restraints have been assessed to understand their impact over the forecast period.
The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
The other key areas of focus include the various applications and end use industry in Silicone Oil Market and their specific segmented revenue.
Due to the COVID-19 pandemic, most of the countries have gone under temporary shutdown, due to which operations Silicone Oil related industries has been negatively affected, thus hampering the growth of the market.
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Silicone Oil Market Segment Analysis - Geography
Asia Pacific region held the largest share in Silicone Oil in 2020 up to 34% followed by North America and Europe. The rapid industrialization reinforced by the government for improving the economy accelerates the growth of the automotive, healthcare, and cosmetics industry. Moreover, the constantly emerging population in the region and the increasing concern of individuals to invest more on their health and personal care are the primary reasons for powering the expansion of silicone oil in the regional market. According to World Health Organization (WHO), China’s government health expenditure was US$ 256 billion in 2018, tripled since health reforms. Whereas in India, the government announced an US$ 8.80 billion outlay for the healthcare sector over six years in the Union Budget 2021-22. Besides, India's e-commerce orders volume increased by 36% in the last quarter of 2020, with the personal care, beauty, and wellness (PCB&W) segment being the largest beneficiary. Besides, China’s imports of cosmetics from Japan in 2020 soared more than 30% from the previous year to about $4.3 billion surpassing $3.3 billion from South Korea
Silicone Oil Market Drivers
Use of Silicone Oil in Healthcare field
Silicone Oil to enhance the performance of Agriculture Chemicals
Silicone Oil Market Segment Analysis Market Landscape
Major players in the Silicone Oil Market are Wacker Chemie A.G, Dow Corning Corporation, Momentive Performance Materials Inc., Shin-Etsu Chemical Co., Ltd, Bluestar Silicones International Co., Ltd, ACC Silicones Ltd., BRB International B.V., Siltech Corporation, Evonik Industries AG.
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