Significant Growth Foreseen by Ethylhexyl Palmitate Market During 2029
Added: (Wed Jun 12 2019)
Ethylhexyl Palmitate Market Outlook:
Ethylhexyl palmitate is obtained from palm oil lipid, and is used as an organic replacement to silicone. It is also known as octyl palmitate. It is a mild and smoothing ester. It is used in multiple skin products as an ingredient to maintain the thickness of the final product. Ethylhexyl palmitate is used in cosmetic formulations as a shining agent, smoothing agent, and moisturizing agent.
The increasing demand for anti-aging creams, baby oil, moisturizing creams, and various other skin-care products is expected to result in the rapid growth of the ethylhexyl palmitate market during the forecast period. A large number of players are participating in this industry. With the surging demand and growth in the number of manufacturers across the globe, the ethylhexyl palmitate market is heading towards a more competitive level.
Market growth due to awareness about health, physical appearance, and personal hygiene
Increase in the demand for cosmetic products globally is a major factor driving the ethylhexyl palmitate market. Ethylhexyl palmitate is used in all beauty products as a primary ingredient for making cosmetics. Ethylhexyl palmitate is used in several products such as antiaging creams, baby oil, eye treatment products, bath salts & soaks, facial moisturizers, hair removal wax, foot moisturizers, general skin care, sunscreens, and women’s depilatories. Some of the other factors responsible for the growth of the ethylhexyl palmitate market include increase in awareness regarding the multiple benefits of these beauty products, increasing number health-conscious consumers, and growing interest in personal hygiene & physical appearance.
Increasing urbanization is also an important factor boosting the ethylhexyl palmitate market. Consumers using cosmetic products are likely to suffer from adverse reactions, allergies, infections, etc. Hence, people nowadays prefer organic, natural, and herbal products. The usage of ethylhexyl palmitate in cosmetics is totally safe, as it does not cause any reactions or infections. The Cosmetic Ingredient Review (CIR) concluded that ethylhexyl palmitate can be used as a safe cosmetic ingredient. As it is a natural and safe ingredient, the demand for ethylhexyl palmitate is rising.
Other major factors driving the ethylhexyl palmitate market are changing lifestyle, peer pressure for opting for new and innovative beauty products & cosmetics, air pollution, changing climate conditions, and rising & dipping temperatures in various developed and developing countries across the globe. Improving economic conditions in developing countries is another factor boosting the ethylhexyl palmitate market. American and European companies can enter the Asia Pacific market as several skin products and cosmetics are not available in the Asia Pacific countries. Moreover, attractive packaging is another factor that is increasing the demand for ethylhexyl palmitate.
In addition, the availability of advanced beauty treatments is a threat to the ethylhexyl palmitate market, as it is likely to reduce the interest of customers in ethylhexyl palmitate-based products.
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Ethylhexyl Palmitate Market Segmentation:
The ethylhexyl palmitate market can be segmented on the basis of product origin, end use, property, and packaging.
On the basis of product origin, the ethylhexyl palmitate market can be segmented as:
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Plant
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Animal
On the basis of product end use, the ethylhexyl palmitate market can be segmented as:
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Anti-aging creams
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Baby Oil
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Bath Salts and Soaks
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Eye Treatment Products
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Facial Moisturizers
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Hair Removal Waxes
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Foot Moisturizers
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General Skin Care
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Sunscreens
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Women’s Depilatories
On the basis of product packaging, the ethylhexyl palmitate market can be segmented as:
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Drum
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Pail
Ethylhexyl palmitate Market: Regional Analysis
North America and Europe are developing as well as using advanced technology for the production of cosmetics. They are launching innovative and new cosmetic products often, hence, the demand for ethylhexyl palmitate in the North America and Europe regions is growing rapidly, as it is an important ingredient in cosmetic production. Moreover, there has been a shift in the preference of consumers toward herbal, organic, and natural products, especially in the U.S and European countries, because they suffer from allergies and infections due to the use of chemical ingredients in skin care products. The demand for cosmetics is growing rapidly in the Asian Pacific countries because of online shopping as well as increasing economic conditions & increasing urbanization. Moreover, the demand for ethylhexyl palmitate is on the rise in countries of the Asia Pacific region, especially Japan, India, and China.
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Ethylhexyl Palmitate Market: Key Participants
Some of the key participants of the global ethylhexyl palmitate market are:
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BOC Sciences
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Bruchem, Inc.
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Trivent Chemicals
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Esters and solvents LLP
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Universal Preserve-A-Chem Inc.
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Making Cosmetics
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Acme Hardesty
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Parchem
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Esters and Solvents LLP
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Qingzhou Ailitong Chemicals Co, Ltd.
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Shanghai Smart Chemicals Co. Ltd.
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Hanianzhongxin Chemicals Co, Ltd.