Seattle, WA -- (SBWIRE) -- 11/15/2019 -- Cosmetic Chemicals Market – Insights
Cosmetic chemicals are used in production of cosmetic products. These chemicals exist in the form of moisturizers, thickening agents, surfactants, or additives. Cosmetic chemicals are added to enhance the appearance of cosmetic products and are added to cosmetics as a preservative, cleanser, moistener, and conditioner. Cosmetic chemicals also offer fresh and persistent color to cosmetics.
Cosmetic Chemicals Market: Drivers
Increasing focus on enhancing aesthetic appeal is a major factor boosting growth of the global cosmetic chemicals market. Moreover, significant growth in the cosmetics and personal care industry is also expected to contribute to growth of the market. For instance, in 2016, the cosmetics and personal care industry in Europe valued US$ 32 billion.
Increasing demand for skincare products and perfumes is also expected to boost growth of the global cosmetic chemicals market. For instance, according to Coherent Market Insights' analysis, the global perfume industry recorded a revenue of US$ 25.33 billion in 2015. Increasing disposable income is also expected to boost growth of the cosmetic chemicals market. For instance, according to the Bureau of Economic Analysis of the U.S. Department of Commerce, personal income increased 0.4% in June 2019, the same increase as in May 2019 and wages and salaries increased 0.5% in June after increasing 0.2% in May 2019 in the U.S.
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Cosmetic Chemicals Market: Restraints
A major factor hindering growth of the global cosmetic chemicals market is stringent regulations on the use of toxic chemicals in cosmetics. For instance, Cosmetics Regulation (EC 1223/2009), Federal Food, Drug, and Cosmetic Act (FD&C Act) and the Fair Packaging and Labeling Act (FPLA) are some of the regulations. The EU and U.S. FDA have banned 1,328 and 11 toxic chemicals, respectively that were used in the formulation of cosmetics and were suspected of causing cancer, genetic mutation, reproductive harm or birth defects.
Cosmetic Chemicals Market: Regional Analysis
On the basis of region, the global cosmetic chemicals market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The market in Asia Pacific is expected to witness significant growth over the forecast period. This is attributed to increasing focus on aesthetic appeal, personal grooming, and high use of skincare products and perfumes.
Cosmetic Chemicals Market: Competitive Landscape
Major players operating in the global cosmetic chemicals market include, Evonik Industries AG, BASF SE, The Dow Chemical Company, Nouryon, Solvay, Croda International Plc., and others.
On the basis of product type, the global cosmetic chemicals market is segmented into:
- Single-use additives
- Thickening agents
On the basis of application, the global cosmetic chemicals market is segmented into:
- Skin care
- Hair care
- Perfumes and Fragrances
- Color cosmetics
On the basis of region, the global mesitylene market is segmented into:
- North America
- South America
- Asia Pacific
- Middle East & Africa
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