Press Release: April 01, 2020
Personal care chemicals are widely used in personal care products such as skin care, hair care, cosmetic and other products. It helps to improve the longevity, quality and odour to the appearance of the personal care products. Personal care chemical is added to cosmetic products in the form of preservatives and fragrances to enhance the shelf life of the products. In addition, active and inactive ingredients are used as a chemical in various applications in the market.
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Growing awareness regarding the beauty and skin care products along with the increasing purchasing power of consumers are driving the global personal care chemicals market. The other factors supporting the global personal care chemicals market include growing concern towards wellbeing among consumers, rising middle-class population in developing countries and increase in geriatric population. Increasing demand for personal care products with active ingredients will boost the global personal care chemicals market. Moreover, increasing disposable income and change in the lifestyle of consumers will increase the demand for personal care chemicals in the market. However, stringent government rules & regulations regarding the usage of certain harmful chemicals may hinder the growth of the global personal care chemical market.
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Various notable players operating in the market, include BASF SE, Croda International PLC, Evonik Industries AG, Lonza Group Ltd., Solvay SA, Akzo Nobel N.V., Clariant AG, The DOW Chemical Company, Merck KGaA, Koninklijke DSM N.V., Wacker Chemie AG, among others. Prominent players are expanding their position through new product launches, acquisitions and expansions to cater the growing demand for personal care products in the market.
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The global personal care chemicals has been segmented on the basis of ingredients, application and key regions. Based on ingredients, the market is segmented into active ingredients and inactive ingredients. Based on active ingredients, the market is segmented into conditioning agents, UV ingredients, anti-ageing, exfoliants and other. Based on inactive ingredients, the market is segmented into surfactants, emulsifiers, emollients and colorants. Based on application, the market is segmented into skin care, hair care, cosmetics, fragrances, oral care, and other.
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