Cosmetic isoparaffins market

Cosmetic Isoparaffins Market, by Product Type (Isododecane, Isohexadecane, Isoeicosane, and Others), by End Use (Hair Care, Skin Care, Lip Care, Antiperspirants & Deodorants, Sun Care, Color Cosmetics, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

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Jul 2020
CMI4003
155 Pages
Excel & Pdf
Cosmetic Ingredients

Summary

Isoparaffins are primarily used as solvents in the cosmetic industry. It is also used as skin conditioning agents and viscosity decreasing agents. The global cosmetic isoparaffins market is projected to surpass US$ 95.1 million by the end of 2027 in terms of value, exhibiting a CAGR of 4.7% during the forecast period (2020 to 2027).

Drivers

Cosmetic isoparaffins are used in mascara, lip care products, antiperspirants, deodorants, sun care products, manicuring preparations, skin care, and hair care products. Changing standards of living and rising awareness regarding personal grooming products are leading to increasing consumer base for makeup products. Increasing consumption of color cosmetic products, owing to rising disposable income of population results in increasing demand for cosmetic isoparaffins, globally. According to Trading Economics Statistics on United States Disposable Personal Income, the disposable personal income in the U.S. averaged US$ 5,200.2 billion in 1959, which increased to US$ 15,742.81 billion in November 2018.

Among regions, Europe held dominant position in the global cosmetic isoparaffins market in 2019, reporting 34% market share in terms of value, followed by North America, among others.

Figure 1. Global Cosmetic Isoparaffins Market Revenue Share (%), By Region, 2019

Market Restraints

Isoparaffins are considered safe for use in cosmetic and personal care products. However, all cosmetic ingredients including isoparaffins are regulated by government regulations by the U.S. Food and Drug Administration, European Commission, China Food & Drug Administration (CFDA), and others. In Europe, the use of isoparaffins in cosmetics should follow general provisions of the cosmetic regulations of the European Union such as Regulation (EC) N° 1223/2009 and Directive 76/768/EEC.

Cosmetic Isoparaffins Market Report Coverage

Report Coverage	Details
Base Year:	2019	Market Size in 2019:	US$ 68.7 Mn
Historical Data for:	2016 to 2019	Forecast Period:	2020 to 2027
Forecast Period 2020 to 2027 CAGR:	4.7%	2027 Value Projection:	US$ 6,781.1 Mn
Geographies covered:	Regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Segments covered:	By Product Type: Isododecane, Isohexadecane, Isoeicosane and Others By End Use: Hair Care, Skin Care, Lip Care, Antiperspirants & Deodorants, Sun Care, Color Cosmetics, and Others
Companies covered:	Croda International plc., INEOS Group Limited, Elementis PLC, The Innovation Company, Rita Corporation, Lanxess AG, Presperse Corporation, and Nihon Koken Kogyo Co., Ltd
Growth Drivers:	Rising applications of isoparaffins Increasing demand from cosmetic and personal care industry as well as growing cosmetic ingredients market
Restraints & Challenges:	Regulations on cosmetic ingredients such as isoparaffins

Market Trends

Manufacturers are offering innovative products to gain competitive advantage in the global cosmetic isoparaffins market. For instance, Royal Dutch Shell PLC offers Shell GTL solvents using gas-to-liquid technology with low aromatics content and odor, and enhance various properties in cosmetic formulations. Shell GTL solvents such as GS190 (C10-13 Isoparaffin), GS215 (C12-15 Isoparaffin), GS250 (C14-16 Isoparaffin), GS270 (C15-19 Isoparaffin), and GS310 (C18-24 Isoparaffin) can be used as solvent in eyeshadow, eye liner, mascara, foundation, skin care products, and hair care products.

Figure 2. Global Cosmetic Isoparaffins Market Revenue Share (%), By End Use, 2019

On the basis of end use, the cosmetic isoparaffins market is segmented into hair care, skin care, lip care, antiperspirants & deodorants, sun care, color cosmetics, and others. In 2019, the color cosmetics segment accounted for 38% of the value share.

Global Cosmetic Isoparaffins Market - Impact of Coronavirus (Covid-19) Pandemic

The coronavirus (COVID-19) pandemic has resulted in increased sales of personal hygiene and cleansing products such as skin care products. According to L'Oréal S.A.’s quarterly report published in April 2020, brands such as Kiehl’s, Lancôme, and Helena Rubinstein, which have a large proportion of skincare products, outperformed the company’s other luxury brands in the first quarter of 2020. Thus, the skin care segment including commodity brands and brands focusing on personal hygiene and cleansing are expected to drive demand for cosmetic isoparaffins.

Competitive Section

Key players operating in the global cosmetic isoparaffins market include Croda International Plc., INEOS Group Limited, Elementis PLC, The Innovation Company, Rita Corporation, Lanxess AG, Presperse Corporation, and Nihon Koken Kogyo Co., Ltd.

Table of Content

* Browse 40 market data tables* and 20 figures* on "Cosmetic Isoparaffins Market” - Global forecast to 2027.

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- Frequently Asked Questions -

What will the market size be in 2027 and at what rate will it grow?

The global cosmetic isoparaffins market is projected to surpass US$ 95.1 million by 2027 and is expected to exhibit a CAGR of 4.7% between 2020 and 2027.

What are the major factors that are expected to drive growth of the global cosmetic isoparaffins market during the forecast period?

Increasing demand from cosmetic and personal care industry as well as growing cosmetic ingredients market are expected to drive the market growth during the forecast period.

What are the trends in the global cosmetic isoparaffins market?

Development of innovative products is expected to positively impact growth of the global cosmetic isoparaffins market during the forecast period.

What are the key factors hampering growth of the global cosmetic isoparaffins market?

Regulations on cosmetic ingredients such as isoparaffins hamper growth of the cosmetic isoparaffins market.

Which are the key players operating in the global cosmetic isoparaffins market?

Major players operating in the global cosmetic isoparaffins market include Croda International Plc., INEOS Group Limited, Elementis PLC, The Innovation Company, Rita Corporation, Lanxess AG, Presperse Corporation, and Nihon Koken Kogyo Co., Ltd.

What is the current market size?

The global cosmetic isoparaffins market was valued at US$ 68.7 million in terms of value in 2019.