Global Cosmetic Chemicals Market to Be Worth Over $11-bn by 2022

The global cosmetic chemicals market is set to cross $11-bn by 2022, owing to rising use of cosmetic products across developed as well as developing economies. This was revealed in a new market report from TechSci Research. “Rising disposable income, changing consumer lifestyle and increasing awareness about a variety of cosmetic products available in the market is boosting consumption of cosmetic chemicals globally,” the report noted.

Market segmentation

The report divides the market into emollients & moisturisers, surfactants, single use additives and thickening agents. Emollients & moisturisers segment grabbed the largest market share in 2016, and is anticipated to continue its dominance during the forecast period. However, thickening agents are expected to be the fastest growing cosmetic chemicals category during the forecast period. The demand for thickening agents is driven by their increasing consumption in various end-use products such as creams, conditioners, face washes, lotions and hair gels.

Growth in the market is also being driven by rising demand for cosmetic chemicals across various applications such as skin care, hair care, colour cosmetics and perfumes & fragrances. Though the skin care application segment is the dominant application area, hair care segment is anticipated to emerge as the key application segment during the forecast period.

Leading players

Over the last few years, cosmetic chemicals manufacturing companies operating across the globe have been increasing their R&D investments to develop and manufacture chemicals that are harmless and provide better results. BASF is the market leader in, followed by Dow Chemical and Croda International. The market dominance of these major players is expected to continue over the course of next five years.