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Chicago , Sept. 14, 2022 (GLOBE NEWSWIRE) --
According to Arizton's latest research report, the silicone lubricant market is expected to grow at a CAGR of 4.12% during 2022-2027. The increase in electric vehicle adoption would influence the silicone lubricants market as the automotive industry is one of the major end-use industries for silicone lubricants.
Silicone Lubricant Market Report Scope
| Report Attributes || Details |
| MARKET SIZE (2027) || $2.67 Billion |
| MARKET SIZE (2021) || $2.10 Billion |
| CAGR (2022-2027) || 4.12% || |
| BASE YEAR || 2021 || |
| FORECAST YEAR || 2022-2027 |
| MARKET SEGMENTS || Product Type, By End-User, and Geography |
| GEOGRAPHIC ANALYSIS || North America, Europe, APAC, Latin America, and Middle East & Africa |
| COUNTRIES COVERED || 3M, Dow, DuPont, Huntsman International, Shin-Etsu Chemicals Co. ltd |
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Rise in Demand for Food-Grade Silicone Lubricants
Silicone lubricants are important for the friction-free and effective functioning of machines and equipment used in the food and beverage industry. The lubricants manufactured for the food and beverage industry are generally harmless and do not have toxic materials as they can encounter foods and beverages. In addition, lubricants should also be H1 grade-certified by NSF and other regulatory bodies such as FDA, USP, and WRAS to be used in the food and beverage industry.
According to the Worldometer, the global population in 2022 was around 7.9 billion. In terms of population, APAC ranks number one among all the regions. APAC is home to roughly 60% of the world's population and includes the world's most populous countries, China, and India. According to World Bank Group data, China had an estimated population of 1.40 billion in 2019, followed by India with 1.38 billion.
Similarly, Indonesia is the third most populated country in the region and the fourth most populated country in the world. So, being one of the most populated regions in the world, APAC represents an enormous opportunity for food-grade lubricant vendors. Lubricant products are essential for the smooth functioning of machinery. Thus, the huge population of APAC is one of the prime factors responsible for the huge demand for silicone-based food grade lubricants for the food & beverage industry, cosmetics industry, and pharmaceutical industry.
- Silicone lubricants are designed to protect equipment & machinery against wear & tear, reduce downtime, prolong service intervals, lower maintenance costs, increase efficiency, and boost the productivity of machine processes. Silicone lubricants are water repellent and hence provide protection from rust. These lubricants perform well in extreme weather condition.
- silicone oil is the largest market and is expected to witness an incremental growth of 28.16% during the forecasted period. Silicone oils are used for insulation to various products. They can also be used as heat transfer fluid as they provide thermal stability to systems in which they are being used. These oils provide greater stability and are known for high temperature non-toxic use at low surface tension and high power.
- Manufacturing sector is the major end-user of silicone lubricants which accounts for 35.14% of global silicone lubricants market. Lubrication is necessary in manufacturing industry as the machines and components are subjected to high stress as they are under constantly changing loads, vibrations and changing operating conditions.
- Silicone lubricants is also widely used in food & beverage industry due to its properties as it can work in high temperature, does not washout, and can even be applied on plastic parts. There is growth in demand for food grade silicone lubricants due to its suitability and intoxicity properties.
- Growth in electrical & electronics industry would drive the demand for silicone lubricants. In recent years, due to rapid industrialization and industry 4.0 initiatives, huge developments in electrical and electronic industry have been undertaken. Silicone lubricants are mainly used in consumer electronics, electric utilities, and general hardware.
- Increase in demand for energy would drive growth in power generation sector which in turn would increase the demand for silicone lubricants. Silicone lubricants are widely used in power generation plants such as coal power plants, gas turbine power plants, hydroelectric power plants, natural gas engines, nuclear energy power plants and wind energy plants. Silicone based hydraulic fluids, compressor oils, open gear lubricants and enclosed gear lubricants are heavily used in power generation equipment.
- APAC is the leading market for silicone lubricants accounting for 37.60% of the global silicone lubricants market. Going forward, APAC is expected to continue to dominate the silicone lubricants market due to the high penetration of manufacturing unit such as automotive, electronic, pharmaceutical, chemical, power generation, and agriculture.
- The global silicone lubricants market is characterized by the presence of diverse international and regional vendors, and they are expected to increase their footprint in the market undertaking startegies such as environment sustainability, mew product launches, and others. Some global players such as Shin-Etsu Chemicals Co.,Ltd (Japan), 3M (US), Huntsman International LLC (US), Dow (US), Dupont (US) and others have developed significant product portfolios for silicone lubricants.
- Huntsman International LLC
- Shin-Etsu Chemicals Co. ltd.
Other Prominent Vendors
- B'laster Corporation
- CHT Group
- Huskey Specialty Lubricants
- Klüber Lubrication
- Liqui Moly
- Super lube
- Wacker Chemie
- Power Generation
- Food & Beverage
- South Korea
- Rest of APAC
- North America
- Rest of Europe
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Explore our chemicals & materials profile to know more about the industry.
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Read some of the top-selling reports:
- Food Grade Lubricants Market - Global Outlook and Forecast 2022-2027
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- Silicone Sealants Market - Global Outlook & Forecast 2022-2027
- Industrial Lubricants Market - Global Outlook & Forecast 2022-2027
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