The global isostearic acid market will grow at a significant rate in the years to come. This growth of the market will be credited to several driving factors like the growing market of cosmetic products and an increase in the consumption of greases and lubricants.
North America was the second largest market for isostearic acid. The region’s market will hold in excess of 25% of the market. The increasing consumer partiality for multifunctional personal care products is the main factor that lifts the growth of the region’s isostearic acid market. Additionally, changing consumers’ lifestyles and rise in incomes, are powering the development in the demand for personal care products, which in order, is generating the requirement for these chemical esters.
The market is divided into lubricants and greases, chemical esters, personal care, and others, which comprise oil extraction, rubber and polymer, textiles, and industrial and institutional cleaning. Amongst these, chemical esters demand was the largest throughout the historical period, and this market category is expected to have the largest share in the worldwide isostearic acid market.
This high requirement is credited to such multifunctional properties, comprising bond and dispersion, and water repellent and soothing nature. Furthermore, chemical esters are utilized as effective solvents, pigment promoters, solubilizer, and plasticizers.
The main aspect that drives the market growth for isostearic acid, is the rise in cosmetic product consumption. Isostearic acid is the key product in the production of cosmetics and personal care products including toiletries products, sunscreen creams, lip gloss, and lipsticks
The isostearic acid market for cosmetic products reaches $678.9 billion in the past. Furthermore, the beauty products market is grown by an increase in aging population and growth in disposable income. Additionally, major cosmetic companies like Estée Lauder Companies Inc., Avon Products Inc., L’Oréal Group, and Oriflame introduced new alternatives unceasingly, which will increase the penetration of the cosmetics industry. This will drive the requirement for isostearic acid in the coming years too.
The main user of isostearic acid is personal care and chemical esters. Likewise, isostearic acid is used in the manufacturing of industrial & institutional cleaning chemicals like liquid cleaners and soaps.
Currently, industrial & institutional cleaning chemicals have a significantly small share in the global market. Though, rapid growth is predictable in the future. The increase in the procedures on environmental safety and mounting medical consciousness, drives the development of industrial & institutional chemicals definitely, majorly in the evolving countries. This in line, is creating ample growth opportunities in the market.
The demand for isosteric acid is on the rise because of its use of the same in the manufacturing of personal care products and also lipsticks.
