The North America Silicone Oil Market would witness market growth of 6.3% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 193.2 kilo tonnes, showcasing a growth of 24.5% (2020-2023).
Silicone Oil is widely utilized in skin and hair care products for its unique properties that enhance texture and performance. In skincare, it creates a smooth, non-greasy barrier on the skin, providing hydration and a silky feel while protecting against environmental aggressors. Its lightweight nature ensures it doesn't clog pores, making it suitable for all skin types. Hence, in US, 89.5 kilo tonnes of Silicone Oil is expected to be utilized by the year 2031.
The US market dominated the North America Silicone Oil Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,516.3 million by 2031. The Canada market is experiencing a CAGR of 8.6% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 7.7% during (2024 - 2031).
Silicon oil-based sealants and adhesives are used in the construction, automotive, aerospace, and electronics industries to seal joints, bond substrates, and encapsulate electronic components. Moreover, silicon oil serves as a release agent in manufacturing processes such as molding, casting, and extrusion to facilitate the easy removal of finished products from molds and dies. Its low surface tension and non-stick properties prevent adhesion between the product and the mold, resulting in smoother release and improved production efficiency. Rising construction activities in Canada is driving the demand for silicone oil. As per the Statistics Canada, investment in building construction rose 1.7% to $19.8 billion in November 2023. The residential sector grew 2.2% to $13.7 billion, while non-residential sector investment increased 0.4% to $6.0 billion.
Silicon oil plays a vital role in the healthcare sector, particularly in ophthalmology, where it is used as a tamponade agent in retinal detachment surgeries. Its high viscosity and refractive index make it ideal for providing long-term support to the retina post-surgery, aiding in the healing process and preventing further detachment. Additionally, due to its biocompatibility and inertness, silicon oil finds applications in medical devices such as syringe lubricants and parenteral formulations. Increasing medical device industry in India translate into higher demand for silicone oil.
With a rising demand for personal care products such as skincare, haircare, cosmetics, and toiletries in Mexico, there will be an increased consumption of silicone oil as a key ingredient in these formulations. Silicone oil is a common ingredient in many personal care products because of its soothing, softening, and conditioning qualities. As per the ITA, Mexico’s cosmetics and personal care products sector is estimated at USD 7.24 million in 2022, making it an important sub-sector of consumer goods in Mexico. The market share distribution of the cosmetics and personal care market in Mexico by segment shows that in 2022, personal care products were the most popular category (28%), followed by skincare (14%), hair care (13%), and body care (9%). Therefore, the high demand for the personal care industry and the rising medical devices sector in the region are driving the market’s growth.
Free Valuable Insights: The Silicone Oil Market is Predict to reach USD 7.4 Billion by 2031, at a CAGR of 7.0%
Based on Application, the market is segmented into Skin & Hair Care, Sealant, Textile Coating, Detergent, Chemical Intermediate, Anti-foam Agent, Release Agent, and Others. Based on Type, the market is segmented into Modified, and Straight. Based on End-user, the market is segmented into Personal Care, Chemical, Construction, Textile, Electronics, Automotive, Medical, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By End-user (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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