The emergence of silicone oil in the niche market started heavily with the high growth potential in the wide operating temperature range. Additionally, there is a high resistance that can be offered. Silicone oil when combined with a thickener forms a grease named silicone grease. The current increase in industrialization and a focus on the better usage has put an increase in the opportunities in Silicone Grease market.
A lot of new chemicals have been largely introduced in the market which provides lubrication. Although they do not enjoy as much as demand and uptake as they should in the market.
Automotive sector is the major contributor for the Silicone Grease Market followed by industrial sector. Silicone grease, even though a premium priced product, is preferred over other greases present in the market due to certain superior properties such as thermal resistance and better performance. The silicone grease market has seen a rise in demand over the years owing to increasing demand from developing countries and increased foreign direct investments by manufacturing companies in these regions. High production cost of silicone oil has been a limiting factor for the Silicone Grease Market ever since its introduction, but the superior performance has paved path for market growth.
Asia Pacific is one of the key consumers for silicone grease and is expected to grow at a higher rate during the forecast period with most of the demand generated from the developing countries such as China and India. China contributed majority of the revenue in the year 2016. The expected economic stability in Europe will boost its automotive sector thereby increasing market opportunities for silicone grease.
The study of the Global Silicone Grease Market provides market size information and market trends along with factors and parameters impacting it in both short and long term. The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the business decision makers to make better business plans and informed decisions for the future business. In addition, the study helps the venture capitalist in understanding the companies better and take informed decisions.
There has been an intense competition among the manufacturers due to presence of many big multinational companies with wide product profiles in silicone grease. All the companies are focusing on R&D to develop new products with improved efficiency to attain more customers, thus, increase their market share. Some of the prominent companies operating in silicone grease market are Momentive Performance Materials Inc., Dow Corning Corporation, Elkem AS and Wacker Chemie AG, among many others.
o Asia Pacific
o North America
o Rest of the World