Isopropyl Palmitate Market size is poised to reach USD 2 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of isopropyl palmitate was USD 1 Billion.
The reason behind the growth is impelled by the growing beauty & personal care industry across the globe. Globally, the average person's discretionary income has increased significantly in the last several years which has led to the rising spending in makeup and skincare products among women.
For instance, globally, the beauty and personal care industry is expected to expand by over 3% between 2024 and 2028, reaching a market size of around USD 735 billion by 2028.
The growing usage of antiperspirant sticks is believed to fuel the market growth. Antiperspirant sticks employ isopropyl palmitate as a physical stabilizer that fights odors, leaves a clean, fresh aroma behind, and diminishes perspiration.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~5% |
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Base Year Market Size (2023) |
~ USD 1 Billion |
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Forecast Year Market Size (2036) |
~ USD 2 Billion |
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Regional Scope |
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Application (Cosmetics & Personal Care, Textile, Pharmaceutical, Rubber & Plastic, Paint & Ink)
In isopropyl palmitate market, cosmetics & personal care segment is likely to hold more than 35% share by 2036. In order to improve product performance, isopropyl palmitate is utilized in a range of moisturizers and hair care products. It is useful in cosmetics since it is an ester made of isopropyl alcohol and palmitic acid.
As an essential component of moisturizers, creams, emulsions, and body oils, isopropyl palmitate softens, soothes, and enhances the overall texture of the skin, making it one of the most significant uses of the ingredient in cosmetics. Isopropyl palmitate also functions as a lubricant in creams and lotions, enhancing their spreadability and encouraging uniform product distribution of ingredients that are important for the shelf life of the product.
In addition, isopropyl palmitate is used in styling products, hair care serums, and conditioners to help manage and condition hair, smooth cuticles, detangle hair, lessen frizz, and improve the overall look and feel of hair.
Type (Greater than or Equal to 95%, Greater than or Equal to 99%)
The greater than or equal to 95% segment in the isopropyl palmitate market is set to garner a notable share shortly. One category is "Greater than or Equal to 95%," which describes products containing isopropyl palmitate with a purity level of 95% or more which are essentially colorless and odorless and can be used for cosmetic purposes, and can also be safe and effective action enhancers for transdermal drug delivery through the skin.
Our in-depth analysis of the global isopropyl palmitate market includes the following segments:
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Type |
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Source |
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Application |
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APAC Market Forecast
By 2036, Asia Pacific region is projected to hold more than 40% Isopropyl palmitate market share. India has one of the biggest chemical industries in the world and has the potential to become one of the top locations in the world for chemical manufacturing. India's chemical sector is developing; it ranks sixth in the world for chemical imports and eleventh for chemical exports globally.
For instance, India's chemical and petrochemical (CPC) sector is currently valued at over USD 175 billion, placing it in a prominent position on the global market. Besides this, one of the primary manufacturing sectors in China is the chemical industry, which is still larger than that of any other country. Moreover, the global income generated by the chemical industry wa foreseen to be around USD 5 trillion in 2022.
In addition, China boasts the largest textile sector globally, both in terms of total output and exports, which accounts for almost half of the world's production of apparel and textiles. For instance, China manufactured over 2 billion meters of apparel fabric in 2023. This may lead to a higher demand for isopropyl palmitate in the region.
North American Market Statistics
The North America isopropyl palmitate market is assessed to be the second largest, during the forecast timeframe led by the growing personal disposable income. As a result, more and more consumers are spending higher levels of disposable income on cosmetics and beauty products in the region, leading to a higher demand for isopropyl palmitate.
For instance, The United States' disposable personal income rose by more than 0.2% in December 2023 compared to the same month the previous year.
Author Credits: Rajrani Baghel
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