BASF lead cosmetic chemicals market until 2022 – Report
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BASF to lead cosmetic chemicals market until 2022 – Report

11:46 AM, 30th January 2018
The market is being driven by rising demand for cosmetic chemicals across various applications such as skin care, hair care, colour cosmetics and perfumes & fragrances. (File photo)
The market is being driven by rising demand for cosmetic chemicals across various applications such as skin care, hair care, colour cosmetics and perfumes & fragrances. (File photo)

Changing lifestyle, rising disposable income coupled with the growing preference for cosmetic products to drive global cosmetic chemicals market through 2022

The global cosmetic chemicals market is forecast to cross $ 11 billion by 2022, owing to rising use of cosmetic products across developed as well as developing economies. Rising disposable income, changing consumer lifestyle and increasing awareness about a variety of cosmetic products available in the market is boosting consumption of cosmetic chemicals, globally, according to TechSci Research report, “Global cosmetic chemicals market by type, by application, by region, competition forecast & opportunities, 2012–2022.”

On the basis of type, cosmetic chemicals market is segmented into emollients & moisturizers, surfactants, single-use additives and thickening agents. Emollients & moisturizers segment grabbed the largest market share in 2016, and the segment is anticipated to continue its dominance during the forecast period as well owing to their extensive usage in cosmetic products. However, thickening agents segment is expected to be the fastest growing cosmetic chemicals category during the forecast period. The demand for thickening agents is driven by their increasing consumption in various end-use products such as creams, conditioners, face washes, lotions and hair gels.

Growth in the cosmetic chemicals market is also being driven by rising demand for cosmetic chemicals across various applications such as skin-hair care, colour cosmetics and perfumes & fragrances. Though skin care application segment is the dominant application area, hair care segment is anticipated to emerge as the key application segment in cosmetic chemicals market during the forecast period.

Over the last few years, cosmetic chemicals manufacturing companies operating across the globe have been increasing their R&D investments to develop and manufacture chemicals that are harmless and provide better results. BASF SE is the market leader in global cosmetic chemicals market, followed by Dow Chemical Company and Croda International. The market dominance of these major players is expected to continue over the course of next five years.

“Growing preference among consumers for cosmetic products, varying from multipurpose to organic cosmetic products, has immensely contributed to the growing demand for cosmetic chemicals over the last five years. Moreover, increasing disposable income and growing inclination of consumers towards luxury cosmetic products is expected to further fuel growth in the global cosmetic chemicals market in the coming years,” said Karan Chechi, research director with TechSci Research, a research based global management consulting firm.

The report has evaluated the future growth potential of cosmetic chemicals market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global cosmetic chemicals market.

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