Carbomers Market Segmentation by Product (Carbomer 934, Carbomer 940, Carbomer 941, Carbomer 980 and Others); by Polymer Type (Homopolymer, Copolymer, and Interpolymer); by Application (Emulsifiers, Thickeners, Dispersing Agents, Conditioning Agents, and Others) and by End-Use (Personal Care & Cosmetics, Pharmaceuticals, Homecare, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
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The global carbomers market is estimated to garner a revenue of ~ USD 1200 Million by the end of 2035 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~ USD 650 Million in the year 2022. The growth of the market can be attributed to the increasing demand for the skin care segment across the globe. It is well known that owing to their liquid form, carbomers are highly used in skin care products. For instance, it was estimated that in 2023, the skin care segment of the cosmetic industry was projected to reach approximately USD 150 billion.
The growing demand for pharmaceuticals and skincare products owing to the product’s stability and efficiency have stimulated the carbomers market providing it long-term shelf stability. Furthermore, the growth of the market can also be ascribed to the increasing selling rate of various skin care products such as hair removal creams, color cosmetics, facial care, gels, body lotions, and sun care products. Carbomer 934 is a cross-linked polyacrylate polymer that exhibits stability at high temperatures and viscosity along with short-flow rheology characteristics. These are among the most commonly used polymers wherein acrylic acid is crosslinked with allyl ethers of polyalcohol. Hence, all these factors are estimated to influence the growth of the market positively over the forecast period.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~6% |
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Base Year Market Size (2022) |
~ USD 650 Million |
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Forecast Year Market Size (2035) |
~ USD 1200 Million |
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Regional Scope |
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Growth Drivers
Growing Demand for Carbomers in Personal Care Products - Carbomers are actively used in personal care products and cosmetics for maintaining the stability of the product. Rapid increases in the demand for sunscreen, exfoliators, masks, skin-tone correctors, anti-aging and skin-lightning creams are the major key factors that are expected to uplift the carbomers market depending on the consumption, globally. Rapidly increasing consumer demand for anti-aging and skin-lightening or brightening skincare products on the back of the rising aging population is among the key factors for higher carbomers' consumption. This has led to the development and formulation of innovative products with active ingredients, which cater to consumers' specific skin requirements. Carbomers are widely used in such preparations. Some skincare products where carbomers are used are skin-lightening and brightening formulations, anti-aging, and exfoliation formulations, masks, skin-tone correctors, sunscreens, and UV protection formulations. For instance, the total sales volume of skin care products was estimated teach approximately USD 200 million across the globe in 2018.
Rising Utilization of Carbomers in Pharmaceutical - Pharmaceutical sector is another major end-use industry wherein carbomers are used in substantial quantities. These acrylic acid polymers provide the functionality of pharmaceutical ingredients. The pharmaceutical industry has upgraded its standard in the global market on the back of rising demand for hand sanitizers, vitamin capsules, and other major medicines being prescribed for daily use. Carbomers are used for rheology modification, bio-adhesion, controlled release of solid dosage forms, and emulsification, among others. For instance, the global pharma industry was anticipated to generate around USD 1.5 trillion in 2021.
Increasing Demand for Polymers – as of 2021, approximately 12 million metric tons of polymers were produced in India. Polymers are highly used in a wide range of industries and such a higher requirement is estimated to boost the market growth over the forecast period.
Growing Incidences of Eye Disease – carbomers are highly used in preparing eye gel since they are runny and function as liquid eye drops. Hence, the higher prevalence of eye disease is expected to expand the market size over the forecast period. For instance, Worldwide the cataract incidence rises with age, varying from 3.9% among those aged 55-64 to 92.6% among those aged 80 and or over.
Challenges
A large number of raw materials, which are used for the production of carbomers are sourced from crude oil and petrochemicals. Some of these raw materials include acrylic acid, propylene, and acetylene. As a result, price volatility among such raw materials is a major limiting factor expected to restrain the market growth over the forecast period. Also, a stringent regulatory framework about the concentration of carbomers in pharmaceutical and cosmetic products has significantly impacted the overall market growth resulting in the limited adoption of carbomers by various manufacturers.
The global carbomers market is segmented and analyzed for demand and supply by application into emulsifiers, thickeners, dispersing agents, conditioning agents, and others. Out of these types of applications, the thickeners segment is estimated to gain the largest market share in the year 2035. The growth of the segment can be attributed to the growing demand for personal care products & cosmetics with stabilizing agents which are used for maintaining product quality for a prolonged time. Rheology modifying agents, such as thickeners, greatly impact the product formulation and thereby enhance the skin feel, product stability, and efficacy of the product. This factor is also estimated to strengthen the segment growth over the forecast period. Thickeners are noticed to be highly utilized in the manufacturing of soup & sauces, inks, puddings, explosives, and cosmetics products. For instance, the total value of the paint and coating industry was estimated to be around USD 150 billion in 2021.
The global carbomers market is also segmented and analyzed for demand and supply by end-use into personal care & cosmetics, pharmaceuticals, home care, and others. Amongst these segments, the personal care & cosmetics segment is expected to garner a significant share in the year 2035. The segment is projected to grow on the back of the maximum demand for personal care & cosmetics in the global market. The personal care industry is highly regionalized and diverse. Numerous products such as hair care, dyes, fragrances, nail care, bathing, and cosmetics use various chemical ingredients. Some of the most commonly used chemical ingredients are carbomers, polymers, emulsifiers, pigments, thickeners, surfactants, and others. Therefore, continuous innovations in the formulation of various skincare products using such chemical elements are another crucial factor, which is further anticipated to propel the segment growth during the forecast period. The growing awareness of personal hygiene and the surge in the utilization of cosmetics by the global population is also expected to drive the growth of the segment during the forecast period.
Our in-depth analysis of the global carbomers market includes the following segments:
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By Product |
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By Polymer Type |
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By Application |
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By End-Use |
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The Asia Pacific carbomers market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the high production base of personal care and cosmetics, pharmaceuticals, and HI&I cleaning products backed by the growth in the regional population with the increasing spending capacity. The Asia Pacific region has a higher demand for cosmetics products, hence, the production is also high which is estimated to be the major growth factor of the regional market. For instance, China became the second largest country to spend money on cosmetics products where spent nearly USD 60 billion on cosmetics in 2022.
The European carbomers market, amongst the market in all the other regions, is projected to hold the second largest share during the forecast period. The growth of the market can be attributed majorly to the region’s high consumption of personal care and cosmetic products, top pharmaceutical manufacturing base, high adoption of carbomers in the region’s household, Industrial, or Institutional (HI&I) cleaning products, and many others. Europe has the world’s best healthcare facilities and robust healthcare infrastructure which is further driven by countries such as Germany, France, and the United Kingdom. For instance, around 7% of the European healthcare expenditure was estimated to be spent on medical technology in 2021.
The North American carbomers market, amongst the market in all the other regions, is anticipated to hold a significant share during the forecast period. The growth of the market in the region can be ascribed to the rapid growth in the sales volume of cosmetics products in the region. Additionally, the United States became the country to sell the highest number of cosmetic products in the world. For instance, the natural beauty segment of the Cosmetics industry in North America is estimated to reach around USD 2 billion in 2023.
Corel Pharma Chem launched a faster film coating, Colorcoat Rapid based on PVA. This film coating is developed to reduce the total cost of coating operations by saving energy and money.
Anhui Newman Fine Chemicals Co., Ltd. launched a new series of carbomers such as Carbomer 20, Carbomer 21, Carbomer 2020, Carbomer 1342, and Carbomer 940 to be used in hand sanitizing gels
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Growing demand for carbomers in personal care products and growing incidences of eye disease are the major factors driving the market growth.
Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2035.
Ans: High possibility of side effects such as skin irritation and a decline in the supply chain owing to COVID-19 is estimated to be the growth hindering factors for the market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Evonik Industries AG, Lubrizol Corporation, Maruti Chemicals, Sumitomo Seika Chemicals CO., LTD., Surfachem Group Ltd, Tinci Materials Technology Company Limited, DX Chemical Co., Ltd, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product, polymer type, application, end-use, and by region.
Ans: The thickeners segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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