Jul 24, 2020   SOURCE: BusinessWire

Cosmetic Isoparaffins Market to Surpass US$ 68.7 Million globally by end of 2027, Says Coherent Market Insights

The global cosmetic isoparaffins market was valued at around US$ 68.7 million, in terms of revenue, in 2019 and is expected to exhibit a CAGR of 4.7% during the forecast period (2020-2027).

Key Trends and Analysis:

Cosmetic isoparaffins have applications in wide range of products for hair care, skin care, lip care, antiperspirants & deodorants, sun care, and color cosmetics, among others. Cosmetic isoparaffins are gaining traction due to rising awareness regarding hygiene and increasing demand for beauty and personal care products such as shampoos, conditioners, body lotions, and cleansers among others.

Key Market Takeaways:

The cosmetic isoparaffins market is expected to witness significant growth during the forecast period, owing to its applications such as solvent, emollient, and skin conditioning agents. Isoparaffins are commonly used in cosmetic and personal care products such as hairsprays, mascara, eyeliner, eyeshadow, cleaning creams, hand lotion, body lotion, foundation, hair conditioner, makeup remover, and others. According to Coherent Market Insights’ analysis, the global color cosmetics market was valued at US$ 62.36 billion in 2016 and is expected to reach US$ 90.16 billion by 2025. Since cosmetic isoparaffins are widely used in the manufacture of color cosmetic products, it is expected to gain steady demand during the forecast period. According to Coherent Market Insights’ analysis, the global cosmetic ingredients market was valued at US$ 16,722.1 Mn in 2018 and is expected to reach US$ 23,835.5 Mn by the end of 2027, exhibiting a CAGR of 3.9% during the forecast period (2019 to 2027). This increasing demand for cosmetic ingredients is expected to drive growth of the global cosmetic isoparaffins market during the forecast period.

According to Coherent Market Insights’ analysis, cosmetic isoparaffins market is expected to exhibit a CAGR of 7.1% in terms of volume during the forecast period (2020-2027). This growth is attributed to the rapidly growing cosmetics ingredients sector in Asia Pacific. According to the International Trade Administration (ITA), U.S. Department of Commerce, the beauty and personal care (BPC) industry in India was valued at US$ 8 billion in 2016 and it is expected to exhibit a CAGR of 5-6% during the forecast period (2017-2021). Increasing awareness about grooming among people is fueling growth of the cosmetic industry, which in turn is driving the cosmetic isoparaffins market growth. For instance, according to the U.S. Department of Commerce, International Trade Administration (ITA), in South Korea, men used 13.3 grooming products on an average per month in 2015, which includes 3.6% of skin care and 1.2% of cleansing products, which is expected to increase over the forecast period.

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Companies engaged in the manufacture of cosmetic isoparaffins are adopting different strategies such as mergers and acquisitions in order to expand their product portfolio and their market presence, globally. For instance, in December 2018, Elementis Plc acquired a production facility in Mumbai, India for around US$ 4 million and planned to invest US$ 15 million in the facility over the next two years, to enable production of additives for personal care, coatings, and energy markets.

Major players operating in the global cosmetic isoparaffins market include—

Croda International Plc., INEOS Group Limited, Elementis PLC, The Innovation Company, Rita Corporation, Lanxess AG, Presperse Corporation, and Nihon Koken Kogyo Co., Ltd.

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Market Segmentation:

  • Global Cosmetic Isoparaffins Market, By Product Type:
    • Isododecane
    • Isohexadecane
    • Isoeicosane
    • Others
  • Global Cosmetic Isoparaffins Market, By End Use:
    • Hair Care
    • Skin Care
    • Lip Care
    • Antiperspirants & Deodorants
    • Sun Care
    • Color Cosmetics
    • Others
  • Global Cosmetic Isoparaffins Market, By Region:
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Italy
      • France
      • Germany
      • Spain
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • ASEAN
      • Australia
      • South Korea
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • Middle East
      • Africa

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.