San Francisco,10 October 2018:
According
to a report published by Grand View Research, Inc.; the allantoin
market is expected to reach a valuation of around USD 641.7 million by
2022.
Increasing product in the
production of preventive healthcare products due to its moisturizing, soothing,
and anti-irritant properties can drive the market during the forecast period
(2012 to 2022).
The allantoin enables a keratolytic
and moisturizing effect on human skin, which helps to remove the dead skin
cells, and improve the water content in skin. These beneficial properties are
anticipated to drive its demand in cosmetics and personal care products. Additionally,
increasing usage in the manufacturing of oral care products such as mouthwashes
and toothpaste is also likely to create positive outlook for the market.
Worldwide allantoin market can
be segmented on the basis of application and region.
As per application, the market
can be segmented into oral hygiene, cosmetic, pharmaceutical, and other.
In 2016, the pharmaceutical segment
estimated for over 31% share of total volume. The segment is expected to show
rapid growth during the study period due to increasing use of the product in
the manufacturing of wound healing lotions and creams due to its cell
proliferation properties. These products are used for treating several skin
diseases including eczema and psoriasis.
In 2016, cosmetic segment reported
for over 32.8% market share. The segment is expected to grow with estimated
CAGR of 6.2% during the forecast period on account of increasing product demand
in the manufacturing of bath products, creams, gels, sun care lotions, and face
care, hand care, and hair care products.
Access
Research Report of Allantoin
Market@ www.grandviewresearch.com/industry-analysis/allantoin-market
Geographically, the market can
be divided into North America, Europe, Asia Pacific, Latin America, and The Middle
East & Africa.
The product constitutes high
demand as a plant growth regulator particularly in the established regions like
North America and Europe. This is anticipated to create opportunities in the
market.
Europe is likely to expand at
projected CAGR of 5.6% during the forecast period. This growth can be
associated with increasing demand for cosmetics and presence of established cosmetics
and pharmaceutical manufacturers in this region. Additionally, high living
standard of the citizens along with increasing demand for anti-aging products
among female consumers is expected to support the growth in this region.
North America is expected to
show significant growth. The U.S. is projected to grow at CAGR of 5.9% during
the forecast period due to existence of several top pharmaceutical and
cosmetics companies in the country.
Latin America is anticipated
to grow at a CAGR of 6.4% during the forecast period due to growing foreign
investments in the industries including personal care and pharmaceuticals.
In 2016, Asia Pacific
estimated for the largest revenue share of 31.9% of total size. Rapidly growing
cosmetics in this region owing to increasing economic condition and changing
lifestyle can support the market growth in the coming years.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/organic-chemicals-and-compounds
Key companies operating in the
market include Ashland Inc.; Huanghua Suntime Chemical Industry Co. Ltd.; Allan
Chemical Corporation; Akema Fine Chemicals; and EMD Performance Materials
Corporation.
The manufacturers in the market
are likely to make high investments in R&D to increase the application
scope for the product in pharmaceutical and personal care applications. The
market is extensively pooled with established market participants, which has
lead to high competition in the market. The industry is mainly dominated by
established companies. The new entry in the market is likely to remain
restricted due to requirement of high initial and operating cost. The market
has a few numbers of participants who are concentrating on R&D activities
to develop efficient and application specific product to meet continuously
changing consumers demand. The players are increasingly focusing on improving
their production capacity and technologies to improve production. Rising use of
the product in cosmetic and pharmaceutical applications has forced major companies
to surge their glyoxylic acid production volumes across the world, which is a crucial
raw material for manufacturing the chemicals. Moreover, major companies in the market
have integrated across the value chain by venturing into raw material
manufacturing and distribution channel for reducing operative costs.
Access
Press Release of Allantoin Market@ www.grandviewresearch.com/press-release/global-allantoin-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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