PUBLISHER: The Insight Partners | PRODUCT CODE: 1843324
PUBLISHER: The Insight Partners | PRODUCT CODE: 1843324
The Asia Pacific cosmetic polymer ingredients market was valued at approximately USD 3.1 billion in 2023 and is projected to grow to around USD 4.6 billion by 2031, reflecting a compound annual growth rate (CAGR) of 5.1% during the forecast period.
Strategic Developments by Key Players
Major players in the cosmetic polymer ingredients sector are actively engaging in strategic initiatives, including product innovation, research and development, mergers and acquisitions, and business expansions. These efforts aim to broaden their customer base and strengthen their market presence. For instance, in June 2023, Solvay SA introduced Naternal, a line of bio-based biodegradable polymers designed for environmentally friendly hair and skin care products. Additionally, in October 2023, BASF SE announced plans to invest in a new facility in Dusseldorf for the production of cosmetic ingredients, specifically emollients for skin care and sun protection products, with operations expected to start by 2025. Emollients are essential cosmetic polymers that help retain skin moisture and enhance product texture. In March 2024, SNF expanded its portfolio with NATURSOL EMI Lite, a new rheology modifier that features a naturality index of 78%, combining a lightweight texture with stabilizing properties, catering to the growing demand for sustainable beauty solutions. Furthermore, in April 2024, Clariant AG acquired Lucas Meyer Cosmetics, a premium ingredient supplier in the cosmetics sector, for an enterprise value of USD 810 million. Such strategic moves by leading companies are anticipated to create significant opportunities in the cosmetic polymer ingredients market throughout the forecast period.
Market Overview
The demand for hair care products, including growth serums, creams, shampoos, and conditioners, is surging in several Asia Pacific countries due to increasing awareness of the benefits of a proper hair care routine. This rising interest in hair care is a key driver for the cosmetic polymer ingredients market in the region. Additionally, advancements in artificial intelligence (AI) and Internet of Things (IoT) technologies that provide personalized skin care solutions are expected to elevate the standards of the beauty and personal care industry in Asia Pacific, further benefiting the cosmetic polymer ingredients market.
Market Segmentation Analysis
The Asia Pacific cosmetic polymer ingredients market is segmented based on type, category, function, application, and country:
Company Profiles
Key companies operating in the Asia Pacific cosmetic polymer ingredients market include 3V Sigma S.p.A., Arkema SA, Ashland Inc., BASF SE, Cargill, Incorporated, Clariant AG, Derypol, Evonik Industries AG, Nouryon Chemicals Holding BV, Sensient Technologies Corp, SNF, Solvay SA, SOPHIM IBERIA S.L, The Dow Chemical Co, and The Lubrizol Corporation. These companies are at the forefront of innovation and development in the cosmetic polymer ingredients market.