In 2023, the global carbomer market was valued at USD 758.9 million. It is expected to expand from USD 805.5 million in 2024 to USD 1,281.6 million by 2032, achieving a compound annual growth rate (CAGR) of 5.8% during this period. The Asia Pacific region led the market in 2023, holding a 40.28% share. Fortune Business InsightsTM has presented this information in its report titled, “Carbomer Market, 2024-2032”. Carbomers are cross-linked acrylic acid polymers with a high molecular weight. It is polymerized using solutions, such as benzene and ethyl acetate, as well as cross-linking agents such as polyallyl sucrose and pentaerythritol polyallylether.
List of Key Market Players:
Lubrizol (U.S.)
Tinci Materials (China)
SNF Floerger (France)
Evonik Industries (Germany)
Sumitomo Seika (Japan)
Newman Fine Chemicals (China)
Corel Pharmachem (India)
DX Chemicals (China)
Maruti Chemicals (India)
Amnem (India)
Segments-
On the basis of type, the market is divided into carbomer 940, carbomer 934, carbomer 980, and others. On the basis of application, the market is segmented into pharmaceutical industry, personal care and cosmetics, and others. Geographically, the market is classified into Latin America, Asia Pacific, North America, Europe, the Middle East & Africa.
Report Coverage-
The research report provides a comprehensive analysis of the market, focusing on critical factors such as types, applications, and leading companies. It also provides market analysis, insights into market trends, quantitative data in terms of volume and value, market research methodology, and highlights critical industry developments and the competitive landscape. In addition to the factors mentioned above, the report includes a number of other factors that contributed to the market's growth in recent years.
Drivers & Restraints-
Market Growth will be Fueled by Increasing Demand from Pharmaceutical Industry
The pharmaceutical industry's increasing adoption will boost the market growth. Factors such as rising consumer health consciousness and rapid infrastructure development in the healthcare industry have boosted the pharmaceutical industry globally. Such factors contributed to an increase in product demand in the pharmaceutical industry. High adhesion, bioavailability, sustained-release properties, and permanent suspension are all features of the product. As a result, it is an ideal component for drug delivery gel systems and is appropriate for oral, ophthalmology, rectal drugs, intestinal, vaginal, and nasal product applications. The government policies imposed on benzene polymerized carbomer to minimize its use in the pharmaceutical industry are restricting the carbomer market growth.
Source: https://www.fortunebusinessinsights.com/carbomer-market-102999
Regional Insights-
Asia Pacific to be a Dominant Region of Global Market
In 2020, the Asia Pacific carbomer market share was valued at USD 258.4 million. China dominates the regional market, owing to increased product consumption across all end-use industries. The increase is attributed to the growing population, rising consumer healthcare spending, and favorable government regulations.
The U.S. is the largest consumer in North America. The rapid expansion of the healthcare industry, combined with increased R&D activities, has fueled the market growth.
Consumers' increased online purchases of cosmetic products will boost product adoption in this region. Over the years, the presence of large-scale manufacturers such as Unilever, Estée Lauder, and L'Oréal in Europe has created a healthy competition in the regional cosmetics industry.
Customers in Latin America have become more aware of the advantages of cosmetic and pharmaceutical products. The region's steadily growing consumer urge for a healthy lifestyle has presented a concrete roadmap for both domestic and foreign players to put more money into the domestic cosmetics industry.
Since certain product grades are accepted as halal-certified cosmetic ingredients, wherein the increasing adoption of halal personal care products in the Middle East and Africa is driving the market growth.
Competitive Landscape-
Lubrizol, Tinci Materials, Evonik Industries, and DX Chemicals are among the market's major players. Lubrizol is a global specialty chemical company with operations in over 100 countries. It provides products and services to a variety of industries, including beauty and personal care, pharmaceuticals, energy solutions, homecare, lubricants, and water treatment.
Industry Development-
July 2021: The Lubrizol Corporation made an investment of more than USD 25 million in its Calvert City, Kentucky manufacturing facility. Carbopol polymers and pemulen polymeric emulsifiers are manufactured at this facility. This investment will allow the company to increase production capacity and upgrade infrastructure at its Calvert City facility while continuously improving safety and quality.