Wilmington, Delaware, United States, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global decyl cocoate market is projected to flourish at a CAGR of 5.5% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 1.8 billion is anticipated for the market in 2031. As of 2023, the market for decyl cocoate is expected to close at US$ 1.07 billion.
The increase in demand for personal care products fueling decyl cocoate market growth as decyl cocoate is an ingredient for personal care products, such as shampoos, conditioners, soaps, and body washes.
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Competitive Landscape
The decyl cocoate manufacturers are enhancing their product portfolio and expanding the market footprint to strengthen the market position. Transparency Market Research has profiled the following players in its global decyl cocoate market report:
- Evonik Industries AG
- BASF SE
- AkzoNobel N.V.
- Croda International Plc
- Solvay SA
- Stepan Company
- Clariant AG
- Lubrizol Corporation
- Huntsman Corporation
- Lonza Group
- Others
Key Developments in the Decyl Cocoate Market
- In June 2023: Croda, Inc., the company that uses smart science to create high-performance ingredients and solutions that improve lives, announces its newest manufacturing facility in Lamar, Clinton County, Pennsylvania.
- Lubrizol offers a portfolio of ingredients and formulations for the personal care and cosmetics industry. Their products are used in skincare, haircare, bath and shower products, and other personal care applications.
- In March 2020 – Stepan Company has acquired Logos Technologies LLC’s NatSurFact® business, a rhamnolipid-based line of bio-surfactants derived from renewable sources. NatSurFact’s rhamnolipid technology provides an important new option as customers across markets seek new sustainability targets for their products.
Increasing consumer preferences towards natural and plant-based ingredients, drive the demand for decyl cocoate. Increased disposable income of consumers and increase in the demand for premium personal care products, cosmetics, and pharmaceuticals, to boost the market growth during the forecast period.
Increasing consumer interest in skincare products such as lotions, creams, and moisturizers, and growing demand for makeup products among women to boost the market for decyl cocoate. Increasing consumer spending on cosmetics products such as lipsticks eyeliner, and eyeshadow boosts the market for personal care which in turn is likely to drive the decyl cocoate market during the forecast period.
Growing popularity of natural and organic personal care products as Consumers are becoming more aware of the harmful effects of synthetic ingredients in personal care products. is also driving the demand for decyl cocoate, as it is a natural and sustainable surfactant.
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Key Takeaways from the Market Study
- As of 2022, the decyl cocoate market was valued at US$ 1 billion
- The personal care segment remains prominent in terms of application, accumulating a high revenue share during the forecast period due to the increasing demand for decyl cocoate in various personal care products, such as shampoos, conditioners, soaps, and body washes.
- Based on end-use, the industrial segment to dominate the decyl cocoate market during the forecast period.
Decyl Cocoate Market: Key Trends and Opportunistic Frontiers
- As the cosmetics and personal care industry continue to expand globally, the demand for functional and effective ingredients like decyl cocoate is expected to increase.
- With the increase in population, the demand for personal care products increases. The increase in disposable income of consumers in developing countries is also fueling the demand for personal care products in these countries.
- The customization and personalization trend in the cosmetics industry can benefit from ingredients like Decyl Cocoate, which can be used to create tailored formulations for different skin types and needs.
- The increased regulatory approvals for decyl cocoate as it is generally considered safe for cosmetic use, contribute to its adoption by many synthetic brands.
Decyl Cocoate Market – Regional Analysis
- North America is expected to dominate the market for decyl cocolate during the forecast period owing to the well-established cosmetics and personal care industry. The increasing demand for natural and sustainable have contributed to the adoption of Decyl Cocoate due to its coconut oil derivation.
- Asia Pacific is expected to witness significant growth in the decyl cocate market during the forecast period owing to the growing demand for personal care products due to its large, growing population. The thriving cosmetics industry in countries like south korea & japan, and the increased demand for innovative skin care products in China & India boost the market growth.
Decyl Cocoate Market- Key Segments
By Application
- Personal care
- Cosmetics
- Pharmaceuticals
- Others
By End-use
- Residential
- Commercial
- Industrial
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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