COSMETIC ISOPARAFFINS MARKET ANALYSIS

Isoparaffins are primarily used as solvents in the cosmetic industry. It is also used as skin conditioning agents and viscosity decreasing agents. The global cosmetic isoparaffins market is projected to surpass US$ 95.1 million by the end of 2027 in terms of value, exhibiting a CAGR of 4.7% during the forecast period (2020 to 2027).

Drivers

Cosmetic isoparaffins are used in mascara, lip care products, antiperspirants, deodorants, sun care products, manicuring preparations, skin care, and hair care products. Changing standards of living and rising awareness regarding personal grooming products are leading to increasing consumer base for makeup products. Increasing consumption of color cosmetic products, owing to rising disposable income of population results in increasing demand for cosmetic isoparaffins, globally. According to Trading Economics Statistics on United States Disposable Personal Income, the disposable personal income in the U.S. averaged US$ 5,200.2 billion in 1959, which increased to US$ 15,742.81 billion in November 2018. 

Among regions, Europe held dominant position in the global cosmetic isoparaffins market in 2019, reporting 34% market share in terms of value, followed by North America, among others.

Figure 1. Global Cosmetic Isoparaffins Market Revenue Share (%), By Region, 2019

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Market Restraints

Isoparaffins are considered safe for use in cosmetic and personal care products. However, all cosmetic ingredients including isoparaffins are regulated by government regulations by the U.S. Food and Drug Administration, European Commission, China Food & Drug Administration (CFDA), and others. In Europe, the use of isoparaffins in cosmetics should follow general provisions of the cosmetic regulations of the European Union such as Regulation (EC) N° 1223/2009 and Directive 76/768/EEC.

Market Trends

Manufacturers are offering innovative products to gain competitive advantage in the global cosmetic isoparaffins market. For instance, Royal Dutch Shell PLC offers Shell GTL solvents using gas-to-liquid technology with low aromatics content and odor, and enhance various properties in cosmetic formulations. Shell GTL solvents such as GS190 (C10-13 Isoparaffin), GS215 (C12-15 Isoparaffin), GS250 (C14-16 Isoparaffin), GS270 (C15-19 Isoparaffin), and GS310 (C18-24 Isoparaffin) can be used as solvent in eyeshadow, eye liner, mascara, foundation, skin care products, and hair care products.

Figure 2. Global Cosmetic Isoparaffins Market Revenue Share (%), By End Use, 2019

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On the basis of end use, the cosmetic isoparaffins market is segmented into hair care, skin care, lip care, antiperspirants & deodorants, sun care, color cosmetics, and others. In 2019, the color cosmetics segment accounted for 38% of the value share.

Global Cosmetic Isoparaffins Market - Impact of Coronavirus (Covid-19) Pandemic

The coronavirus (COVID-19) pandemic has resulted in increased sales of personal hygiene and cleansing products such as skin care products. According to L'Oréal S.A.’s quarterly report published in April 2020, brands such as Kiehl’s, Lancôme, and Helena Rubinstein, which have a large proportion of skincare products, outperformed the company’s other luxury brands in the first quarter of 2020. Thus, the skin care segment including commodity brands and brands focusing on personal hygiene and cleansing are expected to drive demand for cosmetic isoparaffins.

Competitive Section

Key players operating in the global cosmetic isoparaffins market include Croda International Plc., INEOS Group Limited, Elementis PLC, The Innovation Company, Rita Corporation, Lanxess AG, Presperse Corporation, and Nihon Koken Kogyo Co., Ltd.