Dublin, Dec. 01, 2022 (GLOBE NEWSWIRE) -- The "Silicone Lubricant Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
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 repellants and hence protect from rust. These lubricants perform well in extreme weather conditions.
The increase in demand for electric vehicles is expected to drive the demand for silicone lubricants as they are used in various parts for insulation and lubrication in electric vehicles. With the growing population across the world, there is growth in food processing industries, leading to an increase in demand for lubrication in the food & beverage industry. Hence this will increase the demand for silicone-based food grade lubricants in the market.
MARKET TRENDS & DRIVERS
A rise in demand for food-grade lubricants.
Lubricants play a vital role in the smooth functioning of machinery and equipment used in the food and beverage industry. Lubricants used in the food and beverage industry are manufactured by keeping in mind that they might accidentally come in contact with the foods and beverages that processers are making.
Hence, they should be non-toxic and not influence the taste or smell of the food or beverage product. For lubricants to be used in the food and beverage industry should be certified as H1 grade by NSF and by other regulatory bodies such as FDA, USP, and WRAS. These lubricants are widely used in the food and beverage industry because they can work in high temperatures, not wash out, and can even be applied on plastic parts.
Growth In Electrical & Electronic Industry.
In recent years due to rapid industrialization, industry 4.0 has made massive development in the electrical and electronic industries. The electronics sector is mainly divided into electric utilities and general hardware. In addition, the increase in electric vehicle adoption would influence the silicone lubricant market as the automotive industry is one of the major end-use industries for silicone lubricants.
The efficiency and presence of electrical current and electromagnetic fields from electric modules, sensors, and circuits should be considered while manufacturing silicone lubricants for EVs. In the electrical & electronic industry, silicone lubricants are used in various applications such as protection of battery terminals, potting of small electronic components, and screw thread lubrication to prevent sticking and corrosion.
High Cost of Silicone Lubricants
Silicone lubricant mainly consists of silicone as a raw material along with additives. Though silicone is the second most abundant element on earth's crust, the cost is high.
This is due to various factors such as increased energy cost associated with manufacturing, including conversion of sand to high purity silica and further refining silica before the chemical reactions polymerize it. In addition, many expensive components are used during silicone manufacturing, increasing the overall cost due to high maintenance.
On the basics of segment type, the silicone lubricant market is classified into two categories: oil and grease, and silicone oil is estimated to be the largest segment in the global silicone lubricant market. Silicone oils are used for the insulation of various products.
They can also be used as heat transfer fluid as they provide thermal stability to the systems in which they are being used. These oils offer more excellent stability and are known for high-temperature non-toxic use at low surface tension and high power. Silicone grease is produced by mixing a thickener with silicone oil.
It is waterproof grease. Commonly, amorphous fumed silica is used as a thickener and polydimethylsiloxane as silicone oil. Silicone oil is translucent, viscous, and incorporates lubrication properties depending upon the ingredients used to create the grease.
By end-use, the manufacturing industry is estimated to be the major end-user for the global silicone lubricant market. The primary end-user industries for the silicone lubricant market are manufacturing, power generation, automotive, food & beverages, and others.
Lubrication is necessary for the 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 are used in various food processing machines as well.
Silicone-based food-grade lubricants play a vital role in the smooth functioning of food processing equipment. It protects the bearing, chain, mixers, pumps, conveyor belts, and other processing equipment from corrosion offers oxidation stability, and reduces the oil change intervals.
APAC is the largest market in terms of revenue for silicone lubricants due to rapid industrialization, increasing urbanization, growing population, and emerging economies, further helping in the growth of industrial activities and driving demand for silicone lubricant market.
The U.S. and Canada have major silicone lubricant market share in North America. In the U.S., the technological development and increased demand for goods will increase manufacturing activities, leading to the demand for silicone grease used in machinery.
In Latin America, the countries such as Brazil and Mexico are predicted to grow at a high rate due to the highly growing manufacturing industry. The silicone lubricant market in Brazil is expected to grow due to the highly increasing manufacturing, mining, construction, and agricultural sectors.
The global silicone lubricant market is highly fragmented, as many manufacturers across major markets exist. The global silicone lubricant market is characterized by the presence of diverse international & regional vendors.
As international players increase their footprint in the industry, regional vendors will find it increasingly difficult to compete with them. However, some global players such as Shin-Etsu Chemicals Co., Ltd (Japan), 3M (US), Huntsman International LLC (US), Dow (US), Dupont (US), and many more have developed a complete product portfolio for silicone lubricant industry.
Due to the highly competitive and volatile environment in the global silicone lubricant market, growth would mainly depend on the capability to foresee, estimate, and adjust to constantly changing industry scenarios in the coming years.
Major manufacturers have shifted toward environment-friendly lubricants with low content of sulfur by replacing lubricants formulated with petroleum products due to the rise in crude oil prices and the government's stringent regulations to reduce carbon footprint across the world.
Huntsman International LLC
Shin-Etsu Chemicals Co. ltd.
Other Prominent Vendors
Huskey Specialty Lubricants
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Premium Insights
6.1 Silicone Lubricants Market-Global Forecast (2022-2027)
6.1.1 Market Overview
6.2 Market Synopsis
6.3 Segment Review
6.3.1 Company & Strategies
7 Market at a Glance
8.2 Macro Factors
8.3 Value Chain Analysis
8.3.1 Raw Material Supplier
9 Market Opportunities & Trends
9.1 High Demand from EVs
9.2 Rise in Demand for Food-Grade Silicone Lubricants
9.3 Increased Demand from the Pharmaceutical Industry
10 Market Growth Enablers
10.1 Growth of Electrical & Electronic Industry
10.2 Increase in Demand from Manufacturing Industries
10.3 Growth in Power Generation Sector
11 Market Restraints
11.1 High Cost of Silicone Lubricants
11.2 Technological Challenges of Silicone Lubricants
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Forces Analysis
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.4 Power Generation
14.6 Food & Beverage
15.1 Market Snapshot & Growth Engine
15.2 Geographic Overview
For more information about this report visit https://www.researchandmarkets.com/r/3ai74g
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