Personal Care Ingredients: Driven by increasing outdoor activity, changing lifestyle, skin health awareness is boosting Top 10 Care Chemicals Market
The report "Top 10 Care Chemicals Market (Color Cosmetics, Personal Care Ingredients, Active Ingredients, Fragrance Ingredients, I&I Cleaning Chemicals, Surfactants, Emollient Esters, Cosmetic Pigments, Cosmetic Preservatives, Ethoxylates) - Global Forecast to 2021", published by MarketsandMarkets, Care chemicals are products that are used for homecare, personal care and industrial and institutional cleaning.
Personal Care Ingredients: Driven by increasing
outdoor activity, changing lifestyle, skin health awareness
The market demand for personal care products is
driven by increasing outdoor activity, changing lifestyle, skin health
awareness, and an aging population. Personal care ingredients include
antimicrobials, conditioning polymers, emollients, hair fixative/styling
polymers, rheology control agents, skin lightening/whitening actives,
surfactants, and UV absorbers, which provide physical as well as functional
properties to the personal care products. Increasing awareness among customers
towards personal hygiene has pushed the sales of these products, such as baby
products, bath & shower products, and hair care.
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Industrial & Institutional (I&I) Cleaning
Chemicals: Demand for clean and hygienic workplace will drive this market.
I&I cleaning chemicals are primarily used in
general cleaning, commercial laundry, machinery and equipment cleaning in
industries such as manufacturing, commercial offices, healthcare, retail, food
service, automotive, and others. Cleaning plays a very important role in the
growth and performance in these industries. Healthcare, hospitality, and retail
are the sectors where there is a direct client interaction and thus these
industries are very focused on cleaning. In manufacturing, automotive, and food
processing, better hygiene not only results in quality products but is also
safe for the worker’s health which helps in improving productivity. All these
industries are projected to grow at a positive rate which is expected to grow
the demand of I&I cleaning chemicals in these industries.
Though the primary function of cleaning remains the
same in all the industries, however, every industry needs a special type of
cleaners based on the product type or the industry type. Thus, the major
players in I&I cleaning chemicals differentiate themselves by catering to
the specific needs of the customers and are thus able to compete in the market.
New product launches is the key strategy adopted by
the leading players in the care chemicals market. This strategy accounted for a
share of 44% of all growth strategies between 2015 and 2016. The rising demand
for care chemicals is due to its increased application in the personal care
industry, especially for color cosmetics. Besides expanding in different
regions, the companies have invested in increasing their production capacities,
growing their distribution networks, and enhancing their R&D operations.
Expansions and R&D each accounted for a share of 15% of all the growth
strategies adopted by players in the care chemicals market between 2015 and
2016.
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Clariant AG (Switzerland), BASF SE (Germany), and
Sun Chemicals Corporation (U.S.) carried out the maximum number of strategic
developments between 2015 and 2016. In November 2016, Clariant AG
launched Vivsonic and Vivtroze, a highly effective UVB filter to be used in
cosmetic ingredients. In May 2015, Clariant AG launched a natural Plantasens, a
moisturizer which would help formulators in providing treatment for different
skin types. With increasing preference for natural ingredients, the product
will help strengthen the company's skin care segment.
BASF SE (Germany) is focused on strengthening its
foothold in the care chemicals market through facility expansions. In October
2016, the company announced the construction of a new plant for the production
of Vitamin A in Ludwigshafen, Germany. This expansion will increase the total
vitamin A production capacity by 1,500 metric tons. Vitamin A produced by BASF
is widely used in the cosmetic industry. In October 2015, BASF announced to
expand its waxes and emollients production capacity, by constructing a new
plant at Shanghai, China. This will help the company cater to the rising demand
of personal care and cosmetic products in Asia-Pacific.
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