Global Silicone-Wax Market Size, Share & Trends Report, by Type (Solid and Liquid), and by Application (Cosmetics, Healthcare, Automotive, and Others) Forecast (2022-2028)

The global silicone-wax market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Silicone-waxes are pendant-modified alkyl silicone polymers that combine the solubility and strong intermolecular interactions of hydrocarbons with the smooth slip of silicone. The rise in the consumption of skincare products is anticipated to drive the growth of the global silicone-wax market. For instance, Unilever had conducted a study on 10,000 respondents across 9 countries, out of which 74.0% of respondents preferred the beauty and personal care industry, focusing more on making people feel better. Moreover, according to the Parima & Prep’s men grooming survey, approximately 89.0% of men are concerned about skin conditions, out of which 35.0% of men use skin nourishment and anti-aging products on a daily basis.

According to the data published by India Brand Equity Foundation (IBEF) in 2021, the total production of passenger vehicles (three-wheelers, two-wheelers, and quadricycles) has reached 2,214,745 units in October 2021. Moreover, in 2020 India was the fifth largest auto market, with $349 million units sold in the passenger and commercial vehicles categories. In 2021, passenger vehicles production has reached 22,652,108 units in India. Further, the automobile sector received a cumulative FDI inflow of about $30.5 billion between April 2000 and June 2021. Also, the Government of India anticipates the automobile sector to attract $8-10 billion in local and foreign investments by 2023. Thus, the growing demand and rising investment opportunities in the automobile sector are anticipated to increase the production of vehicles which in turn will further drive the growth of the global silicone-wax market during the forecast period.

Looking towards the demand for silicone-waxes, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in July 2021, Silike had launched a new generation of silicon-wax Silimer 5235, used to solve the common problem of kitchen appliances. Silimer 525 is a functional group-containing long-chain alkyl with silicone. It utilizes the ability of silicone-wax to the plastic surface to form a silicone-wax which helps in the reduction of surface energy, scratch resistance, and other effects.

Further, in June 2021, Wacker Chemie AG had launched a silicone co-emulsion DADM 3240 E for hair care products. This emulsion, which contains two silicones, works by forming a loose network structure around the hair, conditioning it, and providing lasting protection. It is beneficial in shampoo formulations. Moreover, this emulsion tends to boost the efficacy of conditioners and leave-in products Thus, such product launches are anticipated to drive the growth of the global silicone-wax market.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Wacker Chemie AG, Silok Polymer Co,Ltd., and Redox among others .

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Silicon-Wax Market Report by Segment

By Type

• Solid
• Liquid

By Application

• Healthcare
• Automotive
• Cosmetic
• Others

Global Silicon-Wax Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa