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Global Silicone Lubricant Market - Outlook and Forecast 2022-2027
The global silicone lubricant market is projected to reach USD 2.67 billion by 2027, growing at a CAGR of 4.12% during the forecast period from 2021 to 2027. Silicone lubricants are specifically formulated to protect equipment and machinery by reducing wear and tear, minimizing downtime, extending service intervals, lowering maintenance costs, improving efficiency, and enhancing productivity. These lubricants are water repellent, offering protection against rust, and perform well under extreme weather conditions.
The rising demand for electric vehicles is expected to drive the need for silicone lubricants, as they are utilized in various parts for insulation and lubrication purposes in the electric vehicle industry. Additionally, the growing global population has led to an increase in the food processing industry, resulting in a higher demand for lubricants in the food and beverage sector. Consequently, there is an increased demand for silicone-based food grade lubricants in the market.
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USD 2.1 billion in 2020
Product Type, By End-User, and Geography
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Lubricants play a crucial role in ensuring the smooth operation of machinery and equipment in the food and beverage industry. Lubricants used in this industry are developed with the understanding that they may come into accidental contact with the food and beverage products being processed. Therefore, they must be non-toxic and must not affect the taste or smell of the final products. Lubricants intended for use in the food and beverage industry should be certified as H1 grade by regulatory bodies such as NSF, FDA, USP, and WRAS. These lubricants are widely utilized in the industry due to their ability to withstand high temperatures, resist washout, and be compatible with plastic components.
In recent years, the advent of Industry 4.0, driven by rapid industrialization, has brought significant advancements in the electrical and electronic industries. The electronics sector is comprised of electric utilities and general hardware, both of which utilize silicone lubricants. Additionally, the increasing adoption of electric vehicles has a significant impact on the silicone lubricant market, as the automotive industry is one of the major end-users. When manufacturing silicone lubricants for electric vehicles, consideration must be given to factors such as efficiency and the presence of electrical current and electromagnetic fields from electric modules, sensors, and circuits. Silicone lubricants find various applications in the electrical and electronic industry, including the protection of battery terminals, potting of small electronic components, and screw thread lubrication to prevent sticking and corrosion.
Silicone lubricants primarily consist of silicone as a raw material, along with additives. Despite silicone being the second most abundant element in the Earth’s crust, its cost is high. This is due to factors such as the increased energy cost associated with manufacturing, including the conversion of sand into high purity silica and further refining of silica before the chemical reactions that polymerize it can occur. Moreover, the manufacturing process of silicone lubricants involves the use of expensive components, leading to higher overall costs due to maintenance requirements.
The market is segmented based on various factors, including product type, by end-user, and geography.
Segmentation by Product Type
Segmentation by End Use
Food & Beverage
Segmentation by Geography
North America – US, Canada
Europe – Germany, France, UK, Italy, Spain, Russia, Rest of Europe
APAC – China, Japan, India, South Korea, Australia, Rest of APAC
Latin America – Brazil, Mexico, Rest of Latin America
Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
The global silicone lubricant market can be classified into two categories based on segment type: oil and grease. Among these, silicone oil is estimated to be the largest segment in the global market. Silicone oils are widely used for insulation purposes and as heat transfer fluids due to their thermal stability. These oils offer excellent stability, high-temperature non-toxic use, low surface tension, and high power. On the other hand, silicone grease is produced by mixing a thickener with silicone oil. It is a waterproof grease commonly formulated using amorphous fumed silica as a thickener and polydimethylsiloxane as silicone oil. Silicone grease, with its translucent and viscous nature, provides lubrication properties depending on the specific ingredients used in its formulation.
Considering end-use industries, the manufacturing industry serves as the major consumer of silicone lubricants in the global market. This industry relies on lubrication to ensure the smooth operation of machines and components, which face high stress from varying loads, vibrations, and changing operating conditions. Silicone lubricants also find important applications in the food and beverage sector, particularly in food processing machines. Food-grade silicone lubricants contribute significantly to the proper functioning of equipment such as bearings, chains, mixers, pumps, conveyor belts, and more. They provide protective measures against corrosion, offer oxidation stability, and help reduce the frequency of oil changes.
The Asia Pacific (APAC) region holds the largest revenue share in the global silicone lubricant market. This can be attributed to rapid industrialization, increasing urbanization, a growing population, and the presence of emerging economies. These factors contribute to the expansion of industrial activities, thereby driving the demand for silicone lubricants. In North America, the United States and Canada dominate the market with a significant market share. Technological advancements and a rising demand for goods stimulate manufacturing activities in the US, leading to increased demand for silicone grease used in machinery.
In Latin America, countries such as Brazil and Mexico are expected to experience substantial growth due to the flourishing manufacturing, mining, construction, and agricultural sectors. The silicone lubricant market in Brazil is particularly anticipated to expand due to the remarkable growth witnessed in these industries.
The global silicone lubricant market exhibits a high level of fragmentation, with numerous manufacturers operating across major markets. The market is characterized by the presence of diverse international and regional vendors. As international players expand their presence in the industry, regional vendors may face challenges in competing with them. However, certain global players such as Shin-Etsu Chemicals Co., Ltd (Japan), 3M (US), Huntsman International LLC (US), Dow (US), Dupont (US), and others have successfully developed comprehensive product portfolios for the silicone lubricant industry.
In the highly competitive and volatile environment of the global silicone lubricant market, growth prospects largely depend on the ability to anticipate, evaluate, and adapt to constantly changing industry scenarios in the coming years. Major manufacturers are shifting towards environmentally-friendly lubricants with low sulfur content, replacing petroleum-based products. This shift is driven by the rise in crude oil prices and the stringent regulations imposed by governments worldwide to reduce carbon emissions.
Key companies profiled in this report include 3M, Dow, DuPont, Huntsman International LLC, Shin-Etsu Chemicals Co. ltd., B’laster Corporation, CHT Group, Elkem, ENI, FUCHS, Huskey Specialty Lubricants, Klüber Lubrication, Liqui Moly, Momentive, Rocol, Super lube, Tygris, Valvoline, Wacker Chemie.
Key Questions Answered
What is the market size of the silicone lubricant industry?
The market size of the silicone lubricant industry was valued at USD 2.10 billion in 2021.
What is the growth rate of the silicone lubricant industry?
The silicone lubricant industry is projected to reach USD 2.67 billion by 2027, exhibiting a compound annual growth rate (CAGR) of 4.12%.
Who are the major vendors in the silicone lubricant industry?
The key players in the silicone lubricant industry include 3M, Dow, DuPont, Huntsman International, and Shin-Etsu Chemicals Co. ltd.
Which region has the largest market share in the silicone lubricant industry?
The Asia Pacific (APAC) region holds the largest market share in the global silicone lubricant industry. This dominance can be attributed to factors such as rapid industrialization, increasing urbanization, a growing population, and emerging economies.
What are the latest trends in the global silicone lubricant industry?
Some of the latest trends in the global silicone lubricant industry include an increase in demand from the electric vehicles industry and a rise in demand for food-grade silicone lubricants.