Increased Consummer Spending on Premium Personal Care and Cosmetics to Continue Stimulating Isohexadecane Market
Isohexadeance market registered a growth of over 3% between 2014 and 2019, which is in sync with global personal care and cosmetics market. Isohexadecane is primarily used as an emollient in premium personal care and cosmetic products, and increased per capita spending on such products have paved a balanced growth path for isohexadecane. Since, a gradual increment in individual spending on premium products has been reported, and is likely to follow northward growth trend over the coming years, the global isohexadecane market is also optimistic of new opportunities in the coming years. Color cosmetics and skin care products are the key growth pillars for isohexadecane consumption, accounting for over two third of the overall isohexadecane market.
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Sun care and hair care products have been identified as fast growing end-use products in personal care industry which is likely witness steady growth during the forecast period. Likewise, end-use applications such as Antiperspirants & Deodorants, Shaving / Hair Removal Products, and Bath, Shower & Soaps have been identified as niche applications of isohexadecane and are anticipated to grow at a slow pace during the forecast period. Key cosmetic brands such as NYX professional, L’Oreal’, Garnier, Olay and Sephora are opting for isohexadecane in their formulation which further supports the growth of the market.
Over 60% of the market share is captivated by two global players such as Croda International plc and INEOS Oligomer and rest of the market is captured by local players such as The Innovation Company, Vantage Specialty Chemicals, and RITA Corporation. On the backdrop of the aforementioned factors, the global isohexadecane market is expected to witness a moderate growth of 3.3% over the forecast period of 2019-2029
Market Consolidation and Consumer Inclination towards Natural Ingredients to Hinder Market Growth
- Consumer preference towards natural personal care and cosmetics products will affect sales of petroleum based isohexadecane
- However, market of isohexadecane is fairly consolidated which affects the production rate and creates a supply-demand gap. This could dampen overall market growth.
- Emerging personal care and cosmetic industry in countries such as India, Indonesia, Vietnam, and Brazil will create profitable opportunity for the isohexadecane market to grow
Collaboration with Channel Partners, Key Market Tenet
Manufacturers engaged in production of isohexadecane have established a strong relationship with channel partners to expand their regional presence and customer base. For instance, Ineos Oligomer, one of the prominent players in the market, distributes its product via channel partners such as Presperse Corporation, now Sumitomo Corporation (Permethyl 101A), NIHON KOKEN KOGYO CO.LTD. (Permethyl 101 A) and Lanxess Distribution GmbH (Purolon IHD), amongst others. Similarly, SEPPIC, Calumet Specialty Products Partners, L.P. and UPI Chem are some of the suppliers that distribute isohexadecane manufactured from Ineos Oligomer or Croda to end-users with unique trade name. These collaborations aid isohexadecane manufacturers to expand their product reach globally.
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North America and Europe Race Ahead, Asia Pacific Closing In
North America and Europe are the prominent markets capturing more than half of the isohexadecane market with presence of global personal care and cosmetics formulators in the region. Likewise, Japan and South Korea are matured personal care and cosmetics markets with less room for new entrants. China, on other hand, has witnessed growth of higher than average, where consumers are shifting towards high premium personal care products driving the use of isohexadecane. The ASEAN and South Asian countries will witness a high pace growth compared to other countries, especially in countries like India, Indonesia, and Vietnam. This is mainly due to the growing per capita personal care spending, disposable income, and shifting consumer preference towards self-care and premium products. Latin America is a developing market with potential market expansion in the region where Brazil is the prominent country, with huge potential for market growth.
Isohexadecane Market- Global Industry Analysis
A recent study by Fact.MR on the isohexadecane market offers a 10-year forecast for the isohexadecane market between 2019 and 2029. The study analyzes crucial trends that are currently determining the growth of the isohexadecane market. This report explains vital dynamics of the isohexadecane market such as drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the isohexadecane market. The study also provides insights into dynamics that are expected to influence the future of the isohexadecane market over the forecast period of 2019-2029.
A detailed assessment of isohexadecane business execution, and value chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the isohexadecane market is included, which enhances the reliability of this comprehensive research study.
Isohexadecane Market: Report Summary
The study offers a comprehensive analysis of diverse features including demand, product developments, policy & regulatory landscape, revenue generation, and sales in the isohexadecane market across the globe.
A comprehensive estimate on the isohexadecane market has also considered the market estimates through forecast factors regarding the sales of isohexadecane in the forecast period. Price point comparison by regions and type with global average price is also considered in the study.
Isohexadecane Market Segmentation
Fact.MR has studied the isohexadecane market with detailed segmentation on the basis of end-use, and key regions.
Isohexadecane Market: Analysis on Market Size Evaluation
An estimate has been provided for each market segment of the isohexadecane market, in terms of volume (tons) and value (US$ Mn) analysis. A Year-on-Year growth contrast on prominent isohexadecane market segments, along with the market attractiveness evaluation has been incorporated in the report. Another key feature of the isohexadecane market report is the analysis of all key segments in terms of absolute dollar. Absolute dollar opportunity is critical in assessing the level of opportunities that a manufacturer can gain, as well as in identifying potential resources, from a sales and delivery perspective in the isohexadecane market.
Isohexadecane Market: Inspected Assessment on Regional Segments
Key sections have been elaborated upon in the isohexadecane report, which have helped deliver projection on regional markets. These chapters include regional macros (GDP, political economic, regional regulatory policies and business environment outlook), which are expected to have a significant influence on the growth of the isohexadecane market during the forecast period.
Country-specific valuation on demand for isohexadecane has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries have also been included in the report.
Isohexadecane Market: In-depth Analysis on Competitive Landscape
The report offers insights on leading manufacturers of isohexadecane along with their detailed profiles. Essential and up-to-date data information related to the market players, who are principally engaged in the production of isohexadecane, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players in the isohexadecane market are provided in the report, which will guide report readers to take preemptive steps to advancing their businesses in the isohexadecane market.
Company profiles have been combined in the report, which include essentials such as product portfolio, along with an all-inclusive SWOT analysis on each key player in the isohexadecane market. The company presence is mapped and presented through a matrix for all prominent players, thus providing readers with actionable insights, which help in effectively presenting market status, and predicting the competition levels in the isohexadecane market. Prominent companies operating in the global isohexadecane market include Croda International, Ineos Oligomer, The Innovation Company, Rita Corporation, and Vantage Specialty Chemicals.
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