The Silicone Oil Market was valued at USD 4.46 billion in 2024, expected to reach USD 6.73 billion by 2032 with a CAGR of 5.28%. Growth is driven by healthcare, cosmetics, EVs, and green energy adoption. The U.S. market is projected to reach USD 1168 million by 2032, growing at a CAGR of 6.49%.

Silicone oil industry growth is fueled by applications in healthcare, personal care, automotive, and renewable energy. FDA approvals for medical-grade silicone oils, a 12% rise in silicone-infused cosmetic products, and automakers integrating silicone oils for electric vehicle thermal systems drive demand.

Lubricants dominated the market in 2024 with a 34.23% market share due to exceptional thermal stability and resistance. Silicone oils are vital in automotive engines, EV battery systems, aerospace hydraulics, and construction. The personal care & cosmetics segment held a 37.23% market share in 2024, driven by consumer preference for lightweight, non-greasy silicone oils in skincare products.

Asia-Pacific led the market in 2024 with a 39.45% market share, driven by extensive use in electronics, automotive, and personal care markets in China, Japan, and South Korea. The region’s rapid industrialization and leadership in electric vehicle production anchor its position as a key market contributor.

Read more at GlobeNewswire: Silicone Oil Market is Projected with a Value of USD 6.73