According to the latest research by InsightAce Analytic, the Global Silicone in Personal Care Market is valued at US$ 3.11 Bn in 2023, and it is expected to reach US$ 5.15 Bn by 2031, with a CAGR of 6.7% during the forecast period of 2024-2031.
Silicone in personal care describes a class of synthetic substances used in cosmetics and personal care products that improve their slip, spread-ability, and overall performance. Protecting the skin or hair from environmental aggressors makes things feel silkier and helps retain moisture. An increase in the demand for silicone in personal care is expected due to factors such as growing personal hygiene awareness, higher disposable income in different regions, and the growing influence of social media.
The market is growing because the cosmetics and nutraceutical industries have grown. Furthermore, as more people become aware of the benefits of personal care, the demand for silicone in personal care is on the rise. Rising incomes in developing nations and the powerful impact of social media ads are to blame for this market growth. In addition to improving the spread-ability and uniform application of skincare and cosmetic products, silicones increase product stability by making formulations resistant to environmental stresses. Due to these factors, silicone in the personal care market is expected to thrive.
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List of Prominent Players in the Silicone in Personal Care Market:
- Wacker Chemie AG
- Elkem ASA
- CHT Germany GmbH
- Shin-Etsu Chemical, Co., Ltd.
- Momentive Performance Materials Inc.
- Dow, Inc.
- BRB International B.V.
- DyStar Singapore Pte Ltd
- Mitsubishi Shoji Chemical Corporation
- Chemsil Silicones, Inc.
- PHOENIX CHEMICAL, INC.
- Jiangxi New Jiayi New Materials Co., Ltd.
- Thor Personal Care
- AB Specialty Silicones
- Siltech Corporation
Market Dynamics:
Drivers:
The people who fuel the growing demand for silicone in the personal care market are becoming more health conscious, and they are learning about the advantages of silicone in personal care for their skin, hair, and overall skin care. The increasing use of silicone in personal care goods, including sunscreens, lotions, and hair care products, is mainly due to its multipurpose and practical qualities. Premium goods are becoming more popular, especially among consumers with more discretionary budgets. Silicone-based products, with their enhanced sensory qualities, are a popular choice among these consumers. Because silicone improves the texture, stability, and effectiveness from a variety of personal care items, innovations in product formulas have only served to increase this need, and silicone in the personal care market is poised for expansion.
Challenges:
The major obstacles to silicone in personal care market growth are environmental concerns, rising adoption of organic and all-natural goods, and rising safety issues. Some silicone compounds have sparked environmental concerns because of their tenacity and bioaccumulation potential. In addition, the usage of silicone has been restricted in certain products due to increased regulatory scrutiny. Some customers are avoiding silicone in personal care products because of the trend toward organic and natural products, which could slow down silicone in personal care market growth..
Regional Trends:
The North American silicone in the personal care market is anticipated to register a major market share in terms of revenue. It is projected to grow at a high CAGR in the near future because of the growth in the millennial generation as a result of the rising demand for various personal care items, such as cosmetics, hair accessories, skincare, and more. Moreover, consumers’ demand for aesthetics and their disposable income are both on the rise, which drive the silicone in the personal care market in this area over the next several years. Besides, Europe had a substantial share in the market due to the growing cosmetics sector, shift in consumer highly branded products, fast urbanization, and innovations in the beauty industry, all factors that could lead to growth in this industry’s market.
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Recent Developments:
- In January 2024, CHT silicone experts will be showcasing a range of products at the world’s leading personal care ingredients convention in Paris. These include a hair care solution made of recycled silicone and a new skincare additive with excellent film-forming and long-lasting effects for color cosmetics.
- ·In February 2024, Wacker Chemie AG is restructuring its European production operations in preparation for future growth in its silicone specialty business. Karlovy Vary, in the Czech Republic, is set to become a new silicone production facility. Megatrends requiring silicones from WACKER, such as electromobility and renewable energies, are the primary motivators for this expansion plan. The anticipated start of production is towards the year 2025’s close.
Segmentation of Silicone in Personal Care Market
Silicone in Personal Care Market- By Product
- Fluids
- Resins
- Blends
- Cross polymers
- Others
Silicone in Personal Care Market- By Application
- Skincare Products
- Haircare Products
- Cosmetics
- Antiperspirants & Deodorants
- Others
Silicone in Personal Care Market- By Region
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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