The global carbomer market size is set to gain momentum from its increasing usage as gels in personal care products and cosmetics. Fortune Business Insights™ presented this information in an upcoming report, titled, “Carbomer Market Size, Share & Industry Analysis, By Product (Carbomer 940, Carbomer 980, Carbomer 934, Others), By Type (Liquid, Powder), By End-Use (Personal Care & Cosmetic, Pharmaceutical) and Regional Forecast, 2024-2028.” The report further states that carbomers are able to suspend solids in liquids. At the same time, it is capable of managing and disintegrating the consistency in the flow of cosmetics by stopping emulsions.
The global carbomer market size was USD 660.2 million in 2020. The market is projected to grow from USD 687.1 million in 2021 to USD 1,022.9 million in 2028 at a CAGR of 5.8% in the 2021-2028 period.
Drivers & Restraints-
Rising Usage as a Clarifying & Dispersing Agent to Favor Growth
Carbomer is experiencing high demand from the personal care and pharmaceutical industries owing to its ability to absorb nearly 500 times its own weight. Also, its non-toxic nature is set to propel demand. It is nowadays being utilized as a clarifying & dispersing agent, an emulsifier, a thickener, and an ion exchange agent. Therefore, they are also used in sanitary napkins and disposable diapers.
Neutralized carbomer, on the other hand, is adopted by the pharmaceutical industry as it is used in biocompatible skin medications, such as gels and creams to treat skin diseases. However, synthetic polymer has adverse effects, such as skin and eye irritations. Hence, regulatory bodies are setting stringent laws that may hamper the carbomer market growth.
Source- https://www.fortunebusinessinsights.com/carbomer-market-102999
Regional Analysis-
Increasing Availability of Cost-effective Labor to Bolster Growth in Asia Pacific
Regionally, Asia Pacific is anticipated to procure the largest carbomer market share in the coming years and will retain its dominant position. This growth is attributable to the expansion of the personal care and pharmaceutical industries, as well as the availability of cost-effective labor in the region. Europe, on the other hand, would stand in the second position in terms of share fueled by the rising adoption of cosmetics in Italy, the U.K., France, and Germany. The increasing research & development activities in the pharmaceutical sector in North America will aid growth.
This Report Answers the Following Questions:
How will the prominent organizations surge sales of carbomer?
Which segment is set to dominate the market in the near future?
Which renowned companies are likely to lead the market in the coming years?
What are the present challenges and opportunities in the global market?
Competitive Landscape-
Key Players Aim to Gain Competitive Edge by Developing Innovative Products
The global market for carbomer is highly fragmented. It houses a large number of small and medium-sized enterprises (SMEs) that are persistently trying to gain a competitive edge. Most of them are developing novel carbomer products that can be used for the production of hand sanitizers owing to the shortages amid the COVID-19 pandemic. Below are the two latest industry developments:
April 2020: Reputed cosmetics manufacturers, namely, LVMH, Estee Lauder, and L’Oreal Paris are facing shortages in the supply of carbomer. The product is used as a thickener in toothpaste, shampoos, and lotions. But, owing to the COVID-19 pandemic, it is being extensively used in the production of hand sanitizers, thereby causing high demand.
April 2020: BOC Sciences, a custom lab chemical supply company will now provide a wide range of featured carbomer products for personal care and disinfection industries. They will be mainly used in the manufacturing of detergents and hand sanitizers.
A list of all the reputed carbomer manufacturers operating in the global market:
Evonik
Lubrizol
Sumitomo
DX Chemicals
Maruti Chemicals
Newman Fine Chemicals
Tinci Materials
Corel
Other key market players