The global cosmetic chemicals market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Cosmetic Chemicals are specialty chemicals used as cleansing agents, moisturizing agents, and coloring agents for cosmetic products. Cosmetic chemicals are segmented based on the type and application of ingredients. Some of the common cosmetic chemicals include fatty acid salts, alcohols, pigments and other.
Based on type cosmetic chemicals can be preservatives, thickening agents, carriers, powders, colorants, pigments, single-use additives, surfactants, emollients, film formers, moisturizers and others.
And based on application, cosmetic chemicals include skin care, hair care, make up and various fragrance products.
As cosmetic chemicals are the major ingredients used in cosmetics markets, demand from these markets is expected to increase the growth of cosmetic chemicals market. Demand from cosmetics market is actually increasing because of growing population and extra income in developing countries.
Drivers and Restraints of Cosmetic Chemicals Market
Growing investments in the cosmetics industry in regions like Asia and the Americas are likely to offer tremendous possibilities for cosmetic chemicals market in the future. As a result of accessibility to raw material, multinational businesses are investing in resource-rich regions to be able to limit the overall production cost.
Cosmetic chemicals have a probability of volatility in supply and prices. Feedstock chemicals affect the cost of production of cosmetic chemicals. Health concerns on the usage of certain cosmetic chemicals are a growing trend in the market. Existing and future health regulations concerning the use of certain cosmetic chemicals are likely to challenge the market growth.
Cosmetic Chemicals Market by Region
North America was the largest consumer of cosmetic chemicals and this pattern is anticipated to be identical over the following few years. Consumption in North America is showing upward trend because of increase in population growth and economic activity. Growing demand for cosmetics will drive cosmetic chemicals market in North America. With major production capacities in North America, the region is likely to grow in terms of global supply capability. Demand from Europe was relatively stable and is likely to stay same in the next few years. Consumption of cosmetic chemicals in the Asia-Pacific is likely to grow at a significant rate. China, in particular, is the fastest growing market for cosmetic chemicals in this region.
Top players in this market include Ashland Inc., BASF SE, Croda International Plc., Akzo Nobel N.V., The Dow Chemical Company, Evonik Industries AG, Lonza Group, Solvay SA, Clariant AG and Innospec Inc. among others.
The report covers exhaustive analysis on:
- Global Market Segments
- Global Market Size
- Supply & Demand
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
Regional analysis includes:
- Middle-East and Africa
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Strategies of key players and products available
- Potential and niche segments, regions showing promising growth