April 16, 2024
Global Isohexadecane Market

The Global Isohexadecane Market Is Estimated To Driven By Rising Demand From Personal Care Industry

Isohexadecane is widely used in the formulation of cosmetic products as it behaves like a lubricant and conditioner for the skin. It provides a smooth, silky feel and reduces friction during application. Isohexadecane mimics natural skin sebum resulting in enhanced absorption of other ingredients. Some key advantages of isohexadecane include non-greasy feel, moisture retention properties and resistance to oxidation. The growing personal care industry coupled with rising awareness about skin and hair care has propelled the demand for innovative cosmetic ingredients. Continuous development of new formulations with improved appearance and care effects has augmented the consumption of isohexadecane.

The global Isohexadecane Market is estimated to be valued at US$ 201.14 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the isohexadecane market is the growing demand for natural and organic personal care products. Consumers are increasingly preferring personal care items made from plant-based ingredients over synthetic alternatives due to rising health concerns. This changing preference toward natural ingredients is prompting manufacturers to develop novel isohexadecane formulations derived from natural plant and vegetable oils. Moreover, rapid expansion of color cosmetics industry especially in emerging regions of Asia Pacific and Latin America is boosting the consumption of isohexadecane. Color cosmetic products such as foundations, concealers, and compacts extensively utilize isohexadecane for its oil absorbing and spreading properties. Continued product innovation led by key players to enhance appearance benefits will further accentuate the business outlook of isohexadecane market during the forecast period.

Porter’s Analysis

Threat of new entrants: Low, as this is an established market requiring high investments and expertise.

Bargaining power of buyers: Moderate, as isohexadecane has applications in personal care, pharmaceuticals and polymers industries with many established buyers.

Bargaining power of suppliers: High, as raw materials used for manufacturing isohexadecane like hexadecane are commodities leading to supplier concentration.

Threat of new substitutes: Low, as isohexadecane has unique propoerties like high stability and biocompatibility making alternatives less attractive.

Competitive rivalry: High, as the market is consolidated with key global players competing on pricing and innovation.

Key Takeaways

The Global Isohexadecane Market Size is expected to witness high growth. The global Isohexadecane Market is estimated to be valued at US$ 201.14 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030.

North America is currently the largest market for isohexadecane owing to presence of major personal care product manufacturers in the region. Asia Pacific is anticipated to grow at the fastest pace during the forecast period supported by increasing demand from personal care and cosmetics sectors from countries like China, India and South Korea.

Key players: Key players operating in the isohexadecane market are Bioelectronics Corporation, Nova Biomedical Corporation, Medtronic Plc., Sensirion AG, F. Hoffmann-La Roche Ltd., Bayer A.G., Abbott, Siemens AG, Salvia Bioelectronics, LifeSensors, OmniVision Technologies Inc., AgaMatrix Inc., Sensirion AG, Broadcom Inc., Sotera Wireless, and Omnivision Technologies.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it