Wilmington, Delaware, United States, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for oleyl erucate was estimated to be worth US$ 624.5 million in 2022. The market is anticipated to advance with a 6.7% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 1.1 billion.
More and more skincare and cosmetic formulas employ oleyl erucate as an emollient. Oleyl Erucate's lubricating properties increase its usability and make it easier to use a variety of items. Sunscreens and hair care products both use oleyl erucate. It gives hair luster and helps UV filters spread evenly.
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Global Oleyl Erucate Market: Key Players
The global market is very concentrated, with a few number of significant suppliers holding the majority of the oleyl erucate market share. The majority of businesses are heavily investing in thorough research and development initiatives, particularly to produce environmentally friendly products.
The two main techniques used by major firms are product portfolio expansion alongside mergers and acquisitions. Some of the key manufacturers profiled in this report are:
- BASF SE
- Croda International Plc
- Evonik Industries AG
- Lubrizol Corporation
- KLK Oleo
- AAK Personal Care
- Oleon NV
- Vantage Specialty Ingredients
- The Hallstar Company
- BioAktive Speciality Products
Developments by the key players in the global market for Oleyl Erucate are:
| Market Player | Year | Key Developments |
| BASF SE | 2022 |
|
Oleyl Erucate's sustainable attributes fit well with current environmental trends, and its non-comedogenic properties highlight its suitability for a variety of skin types. In the changing world of personal care and cosmetics, oleyl erucate aids in satisfying customer demand for solutions that are secure, efficient, gentle on the skin, and sustainable.
Key Findings of Market Report
- During the projected period, a rise in demand for cosmetics and personal care items is anticipated to support market growth.
- The pure oleyl erucate product type segment is projected to rule the global market from 2023 to 2031.
- During the predicted period, Asia Pacific is anticipated to rule the global stage.
Market Trends for Oleyl Erucate
- By type, the pure oleyl erucate segment is going to be a lucrative one. The term "pure oleyl erucate" refers to the chemical in its purest form. In the personal care industry, it has several different uses. Pure oleyl erucate is well known because of its adaptability, effectiveness, and compatibility with various formulations. It is a sought-after component by producers and formulators.
- Pure oleyl erucate-based products are prized for their all-natural composition because they come from plant-based sources like rapeseed oil. This is in line with the rising customer desire for haircare, skincare, and cosmetic goods to contain sustainable and clean components. The need for pure oleyl erucate is expected to rise dramatically soon.
- Sustainability and ethical issues have taken a top priority in purchasing decisions. Products that are both animal- and environment-friendly are becoming more popular all around the world. Social media and digital marketing have changed how products are viewed and used, which affects customer preferences and brand tactics. Products for personal care are now offered based on individual tastes. Global market dynamics are being boosted by this.
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Oleyl Erucate Regional Market Outlook
Various reasons are propelling the growth of the oleyl erucate market in different regions. These are:
- During the predicted period, Asia Pacific is anticipated to rule the global market. In 2022, the area represented a sizable portion. The dominance of Asia Pacific may be attributed to elements including the region's sizable population, rising consumer awareness of natural and sustainable goods, and expansion of the cosmetics and personal care industries there.
- The oleyl erucate market size in North America is anticipated to grow steadily in the near future due to the region's developed cosmetic industry and rising customer desire for high-end, natural skincare products.
- Oleyl erucate market development in the Middle East and Africa is being driven by rapidly changing beauty standards, rising urbanization, and rising demand for high-quality personal care products.
Global Oleyl Erucate Market Segmentation
- Product Type
- Pure Oleyl Erucate
- Oleyl Erucate Blends/Combinations
- Application
- Skincare Products
- Haircare Products
- Makeup and Cosmetics
- Sunscreen and Sun Care Products
- Lip Care Products
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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