Silicone in Personal Care Market Size was valued at USD 3.11 Bn in 2023 and is predicted to reach USD 5.15 Bn by 2031 at a 6.7% CAGR during the forecast period for 2024-2031.
Silicone in personal care refers to a group of synthetic compounds that make cosmetics and personal care items more effective, spreadable, and smooth. Their ability to hydrate and produce a protective barrier makes them perfect for use on both hair and skin. The use of silicon improves the formulae’s longevity, appearance, and ease of application. An increase in disposable income, a surge in the desire for high-quality beauty products, an ever-expanding cosmetic sector, and a general uptick in consumer spending all contribute to silicone’s meteoric rise in the personal care market.
Furthermore, silicone in the personal care industry is projected to grow and drive projections for technological advancements. Silicone in personal care is also becoming more popular as word spreads about the many health, hair, and beauty benefits it offers and the strong influence of social media advertisements and the growing middle class in underdeveloped nations, which is also growing the demand for silicone in the personal care market.
However, safety and health awareness standards still need to be improved, which slows down the silicone industry in personal care, and market regulation is also on the rise. The use of silicon in personal care products is governed by an abundance of rules, regulations, and limits enforced by the market growth. In addition, the expanding cosmetics industry primarily propelled the worldwide silicone in the personal care market. Moreover, many promising new opportunities are opening up for the market due to the widespread use of personal care products in many sectors and the growing number of skin and hair care-related concerns among consumers.
Competitive Landscape
Some of the Major Key Players in the Silicone in Personal Care Market are
- Wacker Chemie AG
- Elkem ASA
- CHT Germany GmbH
- Shin-Etsu Chemical, Co., Ltd.
- Momentive Performance Materials Inc.
- Dow, Inc.
- BRB International B.V.
- DyStar Singapore Pte Ltd
- Mitsubishi Shoji Chemical Corporation
- Chemsil Silicones, Inc.
- PHOENIX CHEMICAL, INC.
- Jiangxi New Jiayi New Materials Co., Ltd.
- Thor Personal Care
- AB Specialty Silicones
- Siltech Corporation
Market Segmentation:
The silicone in the personal care market is segmented based on product and application. Based on product, the market is segmented into fluids, resins, blends, cross polymers, and others. By application, the market is segmented into skincare products, hair care products, cosmetics, antiperspirants & deodorants, and others.
Fluids Segment is Accounted as a Major Contributor to the Silicone in the Personal Care Market
Fluid silicones are expected to hold a major global market share in the personal care market in 2023 because of their versatility in different formulations and multifunctional effects. Because of their capacity to improve the spread-ability and feel of skincare and haircare products, as well as their lightweight and non-greasy texture, they are highly favored by both formulators and customers. In addition, sunscreens and foundations that need to last all day are perfect candidates for fluid silicones because of their water resistance and long-lasting effects.
Haircare Products Industry Segment to Witness Growth at a Rapid Rate
The haircare products industry is expanding rapidly in the silicone personal care market. Because silicone provides a protective layer and smooth surface, your hair will look sleeker and more united than ever before. Moreover, the light-reflecting properties of silicone give hair a healthy sheen, making it look more attractive and glossier.
In the Region, the North American Silicone in Personal Care Market Holds a Significant Revenue Share
The North American silicone in the personal care market is expected to register the highest market share in revenue in the near future. It can be attributed to a strong emphasis on health and beauty, a high level of consumer knowledge, and the presence of major players in the industry who are aggressively diversifying their offerings and establishing new silicone products in this area. In addition, Asia Pacific is projected to grow rapidly in the global silicone in personal care market because of more and more women in professional roles in developing countries like India and China, who are also showing a marked increase in their interest in and expenditure on cosmetics and other personal care items. In addition, these countries’ young populations are driving demand, and their simple access to the Internet is anticipated to generate substantial potential for industry expansion in the coming years.
Recent Developments:
- In January 2024, CHT silicone experts will be showcasing a range of products at the world’s leading personal care ingredients convention in Paris. These include a hair care solution made of recycled silicone and a new skincare additive with excellent film-forming and long-lasting effects for color cosmetics.
- In February 2024, Wacker Chemie AG is restructuring its European production operations in preparation for future growth in its silicone specialty business. Karlovy Vary, in the Czech Republic, is set to become a new silicone production facility. Megatrends requiring silicones from WACKER, such as electromobility and renewable energies, are the primary motivators for this expansion plan. The anticipated start of production is towards the year 2025’s close.
Silicone in Personal Care Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 3.11 Bn |
|
Revenue Forecast In 2031 |
USD 5.15 Bn |
|
Growth Rate CAGR |
CAGR of 6.7% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Product, By Application and By Region |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Wacker Chemie AG, Elkem ASA, CHT Germany GmbH, Shin-Etsu Chemical, Co., Ltd., Momentive Performance Materials Inc., Dow, Inc., BRB International B.V., DyStar Singapore Pte Ltd, Mitsubishi Shoji Chemical Corporation, Chemsil Silicones, Inc., PHOENIX CHEMICAL, INC., Jiangxi New Jiayi New Materials Co., Ltd., Thor Personal Care, AB Specialty Silicones, and Siltech Corporation. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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