Research Nester published a report titled “Carbomers Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the carbomer market in terms of market segmentation by product, polymer type, application, end-use, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness and BPS analysis and Porter’s five force model.
The growth in the carbomers industry is majorly stimulated by the latest trends in material advancements and technologies associated with the formulation of these carbomers. In recent decades, the skincare and pharmaceutical sectors' growth trends have necessitated the fabrication of innovative and advanced carbomers. Carbomers, in these end-use sectors, aid in the inculcation of consumer-desired aesthetics into the products, while simultaneously providing it with a long-term shelf life stability. The global carbomers market reached a value of USD 1,1041.45 million in the year 2019 and is anticipated to grow with a CAGR of 8.04% during 2021-2028. The market is segmented on the basis of end-use into personal care & cosmetics, pharmaceuticals, homecare and others, out of which, the personal care & cosmetics segment held the largest market share of 44.9% in the year 2019 on the back of growing demand for sunscreens, anti-aging creams, skin lightening, fragrances and many other materials.
Based on region, the global carbomer market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa region, out of which, the market in Asia Pacific, which registered a market share of 51.5% in the year 2019, is projected to witness the highest CAGR of 8.60% over the forecast period. The growth of the market in this region can be attributed to rising investments by companies to generate maximum revenue by delivering standard quality products to the customers. High GDP, improving per capita income, and growing healthcare expenditures are supporting the regional demand for carbomers in the region.
The European market is also anticipated to hold a significant market share in the global carbomer market. This is attributed to the increasing use of carbomers in end-use industries such as personal care and cosmetics, pharmaceutical, and HI&I.
Rising Demand for Carbomers in Various End Use Industries To Propel the Market Growth
Owing to the rise in demand for advanced manufacturing goods including adhesives, cosmetics, hand sanitizers, and other similar materials with a high viscosity range, the demand for thickeners and stabilizing agents are rising in the market. This, as a result, is leading to a boost in the growth of the global carbomer market. Carbomers are extensively used in the cosmetic and personal care sector owing to its increasing number of applications, which include the formulation of various cosmetic products. These polymers of acrylic acid act as a thickening, emulsifying, and dispersing agents. Also, these polymers aid in maintaining the pH of the end-use product.
However, high price of crude oil and limited production of petrochemicals are expected to obstruct the growth of the market during the forecast period as they are required for the manufacture of carbomers.
This report also provides the existing competitive scenario of some of the key players of the global carbomer market, which includes company profiling of Anhui Newman Fine Chemicals Co. Ltd., Evonik Industries AG (ETR: EVK), The Lubrizol Corporation, Maruti Chemicals, Ashland (NYSE: ASH), SUMITOMO SEIKA CHEMICALS CO. LTD. (TYO: 4008), Surfachem Group Ltd, and Amnem. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global carbomer market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.