Carbomers Market Trends

Growth Drivers

• Growing Demand for Carbomers in Personal Care Products - Carbomers are actively used in personal care products and cosmetics for maintaining the stability of the product. Rapid increases in the demand for sunscreen, exfoliators, masks, skin-tone correctors, anti-aging and skin-lightning creams are the major key factors that are expected to uplift the carbomers market depending on the consumption, globally. Rapidly increasing consumer demand for anti-aging and skin-lightening or brightening skincare products on the back of the rising aging population is among the key factors for higher carbomers' consumption. This has led to the development and formulation of innovative products with active ingredients, which cater to consumers' specific skin requirements. Carbomers are widely used in such preparations. Some skincare products where carbomers are used are skin-lightening and brightening formulations, anti-aging, and exfoliation formulations, masks, skin-tone correctors, sunscreens, and UV protection formulations. For instance, the total sales volume of skin care products was estimated teach approximately USD 200 million across the globe in 2018.

• Rising Utilization of Carbomers in Pharmaceutical - Pharmaceutical sector is another major end-use industry wherein carbomers are used in substantial quantities. These acrylic acid polymers provide the functionality of pharmaceutical ingredients. The pharmaceutical industry has upgraded its standard in the global market on the back of rising demand for hand sanitizers, vitamin capsules, and other major medicines being prescribed for daily use. Carbomers are used for rheology modification, bio-adhesion, controlled release of solid dosage forms, and emulsification, among others. For instance, the global pharma industry was anticipated to generate around USD 1.5 trillion in 2021.

• Increasing Demand for Polymers – as of 2021, approximately 12 million metric tons of polymers were produced in India. Polymers are highly used in a wide range of industries and such a higher requirement is estimated to boost the market growth over the forecast period.

• Growing Incidences of Eye Disease – carbomers are highly used in preparing eye gel since they are runny and function as liquid eye drops. Hence,  the higher prevalence of eye disease is expected to expand the market size over the forecast period. For instance, Worldwide the cataract incidence rises with age, varying from 3.9% among those aged 55-64 to 92.6% among those aged 80 and or over.

Challenges

• Price Volatility of Raw Materials and Stringent Regulations - A large number of raw materials, which are used for the production of carbomers are sourced from crude oil and petrochemicals. Some of these raw materials include acrylic acid, propylene, and acetylene. As a result, price volatility among such raw materials is a major limiting factor expected to restrain the market growth over the forecast period. Also, a stringent regulatory framework about the concentration of carbomers in pharmaceutical and cosmetic products has significantly impacted the overall market growth resulting in the limited adoption of carbomers by various manufacturers.
• High Possibility of Side-Effect such as Skin Irritation
• Decline in the Supply-Chain Owing to COVID-19