Global carbomer market was valued at USD 688.48 Million in 2021, and it is expected to reach a value of USD 1,028.40 Million by 2028, at a CAGR of 5.9% over the forecast period (2022-2028).
Westford, USA, Dec. 08, 2022 (GLOBE NEWSWIRE) -- The carbomer market is growing rapidly due to the increasing demand for personal care products and cosmetics. Carbomer is a versatile ingredient that can be used in a variety of beauty products, including skin care, hair care, and makeup. Many consumers are searching for natural and organic products that are free from harsh chemicals. Carbomer is an ideal choice for those looking for a safe and gentle ingredient. This product can be used in a variety of formulations to meet the needs of different skin types. It is also compatible with other ingredients, making it a versatile choice for manufacturers.
The carbomer market is forecast to grow at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2028, according to SkyQuest. This will be driven by increasing demand from the Asia-Pacific region and the growing use of carbomers in personal care products. The Asia-Pacific region is the largest market for carbomers, accounting for 38.8% of the global demand in 2021. This is due to the large population and the rapid economic growth in the region. China is the largest country in the region and is projected to account for 39.5% of the Asia-Pacific demand for carbomers by 2028.
Carbomers are used in a variety of personal care products, such as makeup, skin care, hair care, and fragrances. They are also used in oral care products, such as toothpastes and mouthwashes. The growing popularity of natural and organic personal care products is driving the demand for carbomers as they are seen as safe ingredients. The rising middle class in developing countries is another factor driving the growth of the carbomer market as they are able to afford more premium personal care products. In addition, the aging population is another driver as they are more likely to use personal care products that contain carbomers due to their skin benefits.
SkyQuest's outlook for the carbomer market is positive, with strong growth expected in the next seven years. The Market is expected to be driven by increased demand from emerging markets, particularly Asia-Pacific and Latin America.
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Top 5 Players are Holding Over 60% Share of Global Carbomer Market
In its analysis of the market, SkyQuest found that the top five companies accounted for a combined market share of over 60%. The leading company, Lubrizol, held a market share of 16.3%, followed by BASF, Dow Chemical, Akzo Nobel and Evonik. Our analysts believe that the industry is fairly consolidated, with the top five companies accounting for a majority of the market share.
However, they also believe that there is room for growth, particularly in Asia-Pacific, where carbomer market demand is expected to grow at a rate of 5.9% per year between 2022 and 2028. The analysts expect that Lubrizol will continue to dominate the market due to its strong position in North America and Europe, as well as its large portfolio of products. They also believe that BASF will continue to be a major player in the industry due to its strong R&D capabilities and manufacturing expertise.
In its analysis of the global carbomer market, SkyQuest found that Lubrizol holds a strong position in the market with a share of more than 16.3%. The company's products are used in a wide range of industries, including cosmetics, pharmaceuticals, and food and beverage. In addition to its strong market position, Lubrizol has a diversified product portfolio and a robust R&D pipeline. Our analysis also found that the company is well-positioned to benefit from the growing demand for carbomers in Asia-Pacific and other emerging markets.
Carbomers are used in a variety of applications, including thickening agents, emulsifiers, and stabilizers. The Asia-Pacific region is expected to be the fastest-growing market for carbomers due to the growing demand from the cosmetics, pharmaceuticals, and food and beverage industries. Lubrizol has a strong presence in Asia-Pacific with manufacturing facilities in China, Japan, and South Korea.
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Demand for Carbomer Market in Cosmetics and Personal Care to Grow But not Without Challenges
Carbomer is a synthetic polymer used as an emulsifier, thickener, and suspension agent in many personal care and cosmetic products. However, the demand for carbomer market is not taking off as consumers are increasingly looking for natural and organic ingredients. In today’s day and age, people are becoming increasingly health conscious and are looking for products that will not only improve their physical appearance, but also contribute to their overall well-being. As a result, the market for natural and organic cosmetics is expected to grow at a much faster rate than the market for carbomer-based products.
There are several reasons for this flat demand for the carbomer market. First, carbomer is a synthetic ingredient, and consumers are increasingly seeking out natural and organic products. Second, carbomer can be comedogenic, meaning it can clog pores and lead to breakouts. Third, carbomer can be drying to the skin, especially if used in products that are designed to be left on the skin (such as acne treatments). As a result of these concerns, many brands are reformulating their products to exclude carbomer or are marketing their products as being free from synthetic ingredients. This trend is likely to continue as consumers become more aware of the ingredients in their personal care and cosmetics products.
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Top Players in Global Carbomer Market
Tinci Materials (China)
SNF Floerger (France)
Kemira Oyj (Finland)
Evonik Industries (Germany)
Sumitomo Seika (Japan)
Newman Fine Chemicals (China)
Corel Pharmaceuticals (India)
DX Chemicals (China)
Maruti Chemicals (India)
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