Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Isostearyl alcohol is branched-chain alcohol with the chemical formula C18H38O. It is also referred to as isooctadecanol or isooctadecyl alcohol and is insoluble in water and miscible in most of the waxes and oil. Isostearyl alcohol is widely used in the manufacturing of various cosmetic and personal care products such as lotion, serum, and creams due to excellent property of high viscosity which helps in the prevention of the formation of crystal in personal care products. Isostearyl alcohol is also used as glossing agent, emollient, the dispersing agent, solvent, and pigment binder.
The global isostearyl alcohol market is projected to surpass US$ 189.0 million by the end of 2027, in terms of revenue, growing at CAGR of 4.8% during the forecast period (2020 to 2027).
Growing demand for anti-aging products to reduce blemishes, wrinkles, expression lines, and skin pigmentation is projected to propel the market growth. Isostearyl alcohol has excellent anti-aging properties due to which it is widely used in the anti-aging cosmetic products. Thus growing demand for anti-aging cosmetic products is estimated to fuel the market growth over the forecast period.
Growing demand for men's personal care products is expected to foster the market growth of isostearyl alcohol. According to the Coherent Market Insights analysis, the global personal care ingredient market was valued at US$ 17 billion in 2015 and is expected to expand at CAGR of 5.4% during 2015–2021. Skincare segment accounted for over 50.0% share in the global personal care ingredient market in 2015.
Regionally, Europe dominated the global isostearyl alcohol market in 2019, reporting 30% market share in terms of revenue, followed by North America and Asia-pacific, respectively.
Figure 1. Global Isostearyl Alcohol Market, Revenue Share (%), By Region, 2019
Availability of environmentally friendly emollients and surfactant which reduce the adoption of the isostearyl alcohol among the manufacturer is expected to hinder the market growth of isostearyl alcohol.
Increasing demand for natural anti-aging skincare products is expected to restrict the market growth of isostearyl alcohol. Natural ingredients such as animal protein components, mineral nutrients, and microbial metabolites are mainly used in anti-aging skin care products. Thus, growing consumer preferences for the natural anti-aging product is expected to hinder the market growth of isostearyl alcohol.
Strict rule pertaining to the use of composition and ingredient used in the cosmetic products is expected to play a major role in the market growth in the near future. Growth in the demand for fragrance and aroma products coupled with the increasing purchasing power due to the rise in the disposable income of the people in the developing region is further expected to propel the market growth.
Growing demand for men's grooming product due to rising awareness and a growing sense of fashion is expected to propel the market growth over the forecast period. Introduction of male toiletries and other shaving products is also expected to fuel the market growth of the isostearyl alcohol. Moreover, continuous innovation in the men grooming products such as hair perfumes, hair spray, and beard wax is further projected to accelerate the market growth of isostearyl alcohol.
Figure 2. Global Isostearyl Alcohol Market – Opportunity Analysis
The rising number of saloons and people visiting saloons for waxing, haircuts, spas, and others is expected to stimulate the market growth of the isostearyl alcohol is expected to fuel the market growth. Emerging various cosmetic brands around the globe is further expected to fuel the market growth of isostearyl alcohol.
Growing focus on maintenance and presentable appearances among young consumer is expected to accelerate the market growth over the forecast period. Rising use of powder, deodorants, and perfumes among young consumer is further expected to augment the market growth of isostearyl alcohol in the near future.
Figure 3. Global Isostearyl Alcohol Market, Revenue Share (%), By Application, In 2019
On the basis of application, emollient dominated the global isostearyl alcohol market in 2019 with around 27% of market share in terms of revenue, followed by solvent and glossing agent, respectively.
Key players are operating in the global isostearyl alcohol market are Croda International Plc., Oleon, Jarchem Industries Inc., and Nissan Chemical America Corporation