Rising demand for skincare and cosmetics products likely augment the market for aluminium starch octenylsuccinate.
Cosmetics industry is one the rise since last decade due to increased demand for cosmetic products. Furthermore, consciousness towards skin care has also boosted skin care product market. Aluminium starch octenylsuccinate is the aluminium salt of the reaction product of anhydride octenylsuccinate with starch. It is widely being used in cosmetics and skincare industry due to which demand for aluminium starch octenylsuccinate is increasing over the industry forecast period.
Aluminium starch octenylsuccinate proving its uniqueness in cosmetics and skin care market with its absorbing, anticaking, and viscosity increasing properties.
Aluminium starch octenylsuccinate is being used as an anticaking agent and a viscosity increasing agent in various cosmetic products like lotions, dry shampoo, moisturizer, lipstick etc. It also gives products good spreadability, long-lasting and velvet touch characteristics. Aluminium starch octenylsuccinate increases the sun protection factor by 30 to 40 % due to which it is also widely used in sunscreens.
Furthermore, it is highly effective in absorbing excess oil and sweat due to which it is proving to be main ingredient for dry shampoo. With all these demand for aluminium starch octenylsuccinate continue to rise over the industrial forecast period.
Increasing use of aluminium starch octenylsuccinate in cosmetics, skin care industry are one of the main factors driving the growth of the aluminium starch octenylsuccinate market. Furthermore, expanding application base of aluminium starch octenylsuccinate and technological advancements in biotechnology are one of the major factors accelerating the growth of aluminium starch octenylsuccinate market.
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Emerging economies likely to boost the demand for Aluminium starch octenylsuccinate Market.
Emerging economies like China and India has shown considerable growth in use of cosmetics and skin care products thus contributing to overall market growth of aluminium starch octenylsuccinate market. Rise in work culture, change in lifestyle, rise in population, rise in disposable incomes etc are one of the factors contributing towards market growth in these developing economies. Europe, North America, Asia are one of the prominent exporters of cosmetics and skin care products thereby fuelling the market for aluminium starch octenylsuccinate.
Rising consciousness towards skincare, haircare, climate change due to pollution are one of the factors contributing towards growth of cosmetics and skin care industry in developed economies. Furthermore, expanding product applications for aluminium starch octenylsuccinate and various technological advancements in biotechnology have supported the growth of aluminium starch octenylsuccinate market in region like North America, Europe, Asia etc.
Impact of COVID-19 on aluminium starch octenylsuccinate market
Government imposed lockdown has disrupted the supply chain for cosmetics and skincare products due to which demand for aluminium starch octenylsuccinate is accelerating at slow rate. Furthermore, production of different cosmetics and skin care products have slowed down resulting in decreased demand for aluminium starch octenylsuccinate market. Demand for cosmetics and skin care products estimate to rise at stable rate once the pandemic is over, the shift is contributed by trends towards health consciousness due to change in consumer behaviour due to COVID-19.
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Mergers and acquisitions is the latest trend in Aluminium starch octenylsuccinate Market.
Key players in the market are using various strategies like merger and acquisition. For instance, Nouryon speciality chemicals has acquired Brazil’s Polinox, South America’s leading producer of ketone peroxides, an essential ingredient in the manufacture of polymers.
Nouryon speciality chemicals has been acquired by The Carlyle Group and GIC in 2018. Furthermore, Sensient Cosmetic Technologies another key player in the market has acquired Vancouver based Mazza Innovation Limited, a global leader in botanical extraction technology, for an undisclosed amount. Other key players in the aluminium starch octenylsuccinate market are Bio-nest Biochemical Technology Co., LTD, AGRANA Beteiligungs-AG and others.
Segmentation of Aluminium starch octenylsuccinate Market
Based on the types aluminium starch octenylsuccinate market is classified based on product type and application. Most of market is captured by aluminium starch octenylsuccinate powder.
- Food Grade aluminium starch octenylsuccinate
- Cosmetic grade aluminium starch octenylsuccinate
- Cosmetics products
- Personal Care products
- Skin care products
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