July 15, 2024
Isohexadecane Market

Projected rising demand in personal care sector to boost the growth of Isohexadecane Market

The global Isohexadecane Market is estimated to be valued at US$ 201.14 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Isohexadecane is an emollient ingredient used in various personal care and cosmetic products such as lotions, creams and makeup products. It helps to improve product texture and enhances shelf-life. It is highly skin compatible, non-fragrant and non-greasy in nature. These unique properties make it a suitable substitute for silicone and mineral oil based products. Its moisturizing effect makes skin feel soft, supple and healthy on regular use.

Market key trends:

Growing cosmetic industry around the globe is a major driving factor for isohexadecane market growth. Rising disposable incomes and changing consumer preferences towards natural and organic cosmetic products have boosted the sales of skin care creams and lotions significantly. Expanding e-commerce sector is also facilitating the easy availability of personal care products to both rural and urban population. Further, isohexadecane finds application in sunscreens due to its ability to absorb ultraviolet rays. Surging popularity of organic sunscreens is projected to generate substantial demand for isohexadecane over the forecast period.

Porter’s Analysis Content

Threat of new entrants: The threat of entry is low in isohexadecane market due to requirement of high initial investment for research and development of new products.New entrants also need to gain consumer trust for their products.

Bargaining power of buyers: The bargaining power of buyers is moderate in isohexadecane market. Buyers can negotiate for better prices due to availability of multiple suppliers but switching cost is low.

Bargaining power of suppliers: The bargaining power of suppliers is low to moderate. There are multiple suppliers for isohexadecane but it is a specialized chemical requiring technical expertise for production.

Threat of new substitutes: The threat of substitutes is moderate. Isohexadecane competes with oils and other emollients. However, its properties provide advantages over substitutes for certain applications.

Competitive rivalry: Competition is high among the major players to gain market share by developing new products and applications. Companies focus on innovations in products.

Key Takeaways

The Global Isohexadecane Market Size is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing demand from cosmetics industry. Isohexadecane finds wide application as an emollient or binder in skin care, hair care and color cosmetics products due to its skin compatibility and shine enhancing properties.

North America is expected to be the largest as well as fastest growing market for isohexadecane during the forecast period. Presence of major cosmetic companies and increasing expenditure on personal care boost the demand. Europe also represents a substantial share in global isohexadecane market driven by large cosmetic industry in the region.

Key players operating in the isohexadecane market are R.I.T.A, Elementis, Presperse (Sumitomo Corporation), The Innovation Company, Croda, Vantage Specialty Ingredients, Lanxess. Companies focus on new product development with enhanced emollient properties for various cosmetic applications to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it