ISOHEXADECANE MARKET ANALYSIS

Isohexadecan is a C16 iso-paraffin which is primarily used as an emollient and solvent in a wide range of beauty & personal care products such as skin care, hair care, lip care products, and deodorants. Moreover, it is also used as a cleansing agent and texture enhancer in cosmetics. The safety of isohexadecane has been assessed long back by the Cosmetic Ingredient Review (CIR) expert panel (which was established in 1976 as an independent safety review program for cosmetic ingredients by The Personal Care Products Council). The CIR Expert Panel evaluated scientific data of isohexadecane and concluded that it is a safe ingredient for use in cosmetics.

Market Dynamics:

• Rising demand of isohexadecane in beauty and personal care products can be attributed to skin-conditioning, moisturizing and cleansing properties offered by isohexadecane which is expected to drive the growth of isohexadecane market over the forecast period. Isohexadecane is widely used in skin care products such as face creams, lotions, sun care products, face oils, makeup products such as foundations & color cosmetics, and face & eye makeup cleanser and makeup removers. Growing demand for cosmetics and personal care products across the globe is expected to propel growth of isohexadacne market.
• For instance, according to data released by The International Trade Administration (ITA), U.S. Department of Commerce in September 2016, total U.S. exports of personal care and cosmetics were valued at US$ 10.4 billion in 2015, whereas total U.S. exports of the industry registered an average growth rate of 15% from 2013 to 2015.
• However, shift in preference of consumers towards beauty & personal care products which are based on natural and readily degradable ingredients such as plant based emollients is expected to hamper the isohexadecane demand over the forecast period.
• For instance, a France-based company SEPPIC (a subsidiary of Air Liquide Group) offers cosmetics emollient ‘EMOGREEN’ which is based on vegetable biomass and is biodegradable. Such factors are expected to restrain the growth of the isohexadecane market as isohexadecane is derived from petroleum products.

Market Outlook:

• Among regions, Asia Pacific is expected to gain significant traction over the forecast period in global isohexadacane market owing to growth of the beauty & personal care industry in countries such as South Korea, India, China and Japan, which is projected to drive demand for efficient emollients, and fuel growth of isohexadacane in the region.
• For instance, according to the article ‘Korea – Cosmetics’ published by The International Trade Administration (ITA), U.S. Department of Commerce in August 2019, South Korea is the 8^th largest cosmetics market across the globe, representing about 3.0% share of the global market in 2018. As per the same source, market size of the cosmetics industry in South Korea was US$ 7,640 million in 2015 which increased to US$ 8,129 million in 2016 and further increased to US$ 8,799 million in 2017, registering an annual growth rate of 4.7% for the period 2013-2017.
• Furthermore, according to the webinar report, ‘Beauty Product Opportunities to Japan, South Korea and the Philippines’, published by Australian Trade and Investment Commission in July 2018, Japan was the third largest market for cosmetics across the globe in 2017 with presence of about 2,500 cosmetics manufacturers in the country.
• Therefore, growth of the beauty and personal care industry in Asia Pacific is expected to drive growth of the isohexadecane market in the region over the forecast period.

Key players:

• Key players operating in the global isohexadecane market include INEOS Group, Croda International Plc., Vantage Specialty Chemicals, RITA Corporation, The Innovation Company, Presperse Corporation, LANXESS Corporation, Trulux Pty Ltd., Dowpol Chemical International Corp, DeWolf Chemical, and SAMKWANG Co. Ltd.

Market Taxonomy:

On the basis of application, the global isohexadecane market is segmented into:

• Skin Care
• Hair Care
• Lip Care
• Eye Care
• Nail Care
• Deodorants

On the basis of region, the global isohexadecane market is segmented into:

• North America
  • U.S.
  • Canada
  • Mexico
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Europe
  • U.K.
  • Germany
  • Italy
  • France
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ASEAN
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa
  • Middle East
  • Africa