The market for emollient esters is expected to develop at a CAGR of over 3% during the forecast period. The major factor driving the growth of the market is increasing demand for personal care and beauty products and growing awareness regarding personal hygiene. Unfavorable conditions arising due to the sudden outbreak of COVID-19 is anticipated to foil the growth of the market during the forecast period.
- Emollient Esters are used extensively in cosmetics and personal care related items. Demand for caprylic capric triglycerides is expected to rise due to its skin smoothening and antioxidant benefits.
- Asia-Pacific region is expected to be the fastest-growing market due to the large-scale production as well as consumption of the emollient esters products and their derivatives.
Key Market Trends
Caprylic/Capric Triglyceride Demand to Boost Emollient Esters Market
- Caprylic Capric Triglycerides is an oily fluid, processed from blending coconut oil with glycerin. This mixture is often called capric triglyceride. It helps with smoothening the skin and furthermore works as an antioxidant.
- These compounds are made of naturally occurring fatty acids. The high-fat substance in them nearby their surface and antioxidizing attributes, make them ideal for chemical and skincare items.
- In 2019, the market estimation of the worldwide cosmetics business is estimated to be USD 537.7 billion and is anticipated to reach a value of USD 758.4 billion by 2025. This is expected to increase the demand for caprylic capric triglycerides in the market.
- All the aforementioned factors are expected to drive the Emollient Esters market during the forecast period.
Asia-Pacific to be the Fastest Growing Emollient Esters Market
- Asia-Pacific is anticipated to be the fastest-growing market owing to the huge demand for cosmetics and skin care products from the enormous population residing in the region.
- Revenue in the Skin Care segment from the Asia-pacific region is estimated to be USD 63.12 billion in 2020. The market is anticipated to grow annually by 4.6%.
- In 2020, ChinaŐs revenue in the hair care segment is projected to be USD 8.35 billion. It is forecasted to grow annually by 4.4%.
- In 2020, Japan is expected to generate a revenue of USD 6.88 billion from its cosmetics business segment and is predicted to grow at a rate of 2.1% annually.
- Thus, rising demand from various industries coupled with government support is expected to drive the market studied in the region during the forecast period.
The market for emollient esters is partially fragmented. Some of the players in the market include BASF SE, Evonik, Ashland, The Lubrizol Corporation, and Croda International Plc.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing demand for personal care and cosmetic products
4.1.2 Other Drivers
4.2.1 Unfavourable Conditions due to COVID-19 Outbreak
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1.1 Isopropyl Myristate
5.1.2 C12-15 Alkyl Benzoate
5.1.3 Caprylic/Capric Triglyceride
5.1.4 Cetyl Palmitate
5.1.5 Myristyl Myristate
5.2.1 Skin Care
5.2.2 Hair Care
5.2.4 Oral Care
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.2 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.3.4 South America
188.8.131.52 Rest of South America
5.3.5 Middle-East and Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.3 BASF SE
6.4.4 Croda International Plc
6.4.8 PHOENIX CHEMICAL, INC.
6.4.9 Stepan Company
6.4.10 The Lubrizol Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.