Application of decyl oleate in personal care products is expected to increase in the coming years
Decyl oleate is treated as a personal care ingredient. The product comes under the oleochemicals sector and is largely consumed by the personal care industry with a small amount being consumed by pharmaceuticals and other industries. It is mostly used as a key composition in many cosmetics, hair care, and skin care products. The emollient is industrially produced by the esterification of fatty alcohols and oleic acid. Due to growing consciousness among people regarding their appearance, the personal care application segment has witnessed the maximum demand for decyl oleate in the global market in the recent past.
According to the results of our comprehensive market analysis, application of decyl oleate in the personal care segment is the highest, with the market value of the personal care segment expected to reach more than US$ 700 Mn by the end of 2025, growing at a CAGR of 3.7% during the forecast period.
However, the application of decyl oleate in the pharmaceuticals sector is also anticipated to grow at a high CAGR, similar to the personal care segment. The pharmaceuticals application segment is expected to register a CAGR of 3.6% during the forecast period 2017-2025.
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- BASF SE
- IOI Oleo GmbH
- Ashland LLC.
- KLK Oleo
- Ecogreen Oleochemical (S) Pte. Ltd.
- Mosselman SA
- Italmatch Chemicals SpA
- Oleon NV
- Zschimmer & Schwarz Holding GmbH & Co KG
- Stearinerie Dubois Fils SA
- Alzo International Inc
- Kumar Organic Products Limited
- CISME Italy s.r.l
- Venus Ethoxyethers Pvt. Ltd.
- Triveni Interchem Pvt. Ltd.
- R & D Laboratories Ltd
- Domus Chemicals S.p.A.
- Phoenix Chemicals Inc.
- Syntechem Co.,Ltd
The growing use of natural ingredients in cosmetics encourages the use of decyl oleate
Manufacturers are witnessing the preferences of people towards natural ingredients in the products they use, as natural ingredients are considered to be more healthy and beneficial with minimal side effects. Owing to this factor, manufacturers are now focusing on using natural ingredients in their product formulations. Individuals are also extensively following the vegan cosmetics trend, owing to which, decyl oleate is becoming the first preference for manufacturers, as it is derived from vegetable oils.
Another demand arising from the personal care segment is for anti-aging products. The baby boom generation in many regions is reaching maturity. This has increased the demand for anti-aging products in the global market. Also, problems linked with sun exposure are on the rise in European countries. Hence, the demand for sun protection products is also witnessing a surge.
Such factors have in turn resulted in increasing sales in the decyl oleate market, as decyl oleate is exclusively used in ant-aging and sun protection products. As the young population keeps increasing, their demand for the preferred products will also continue to increase. All the aforementioned dynamics indicate that the global decyl oleate market is expected to experience a stable growth in the foreseeable future
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Dependency on imports and a poor supply chain may hinder revenue growth of the global decyl oleate market
High import tariffs levied on imported chemicals and other products increase the overall cost of decyl oleate, due to which it becomes difficult for small buyers to purchase ingredients. Also, there are some regions where the production of decyl oleate is relatively low. As a result, buyers depend on imports, which also increases the price of decyl oleate.
Owing to the fluctuating economy in some nations, buyers avoid long-term contracts with prominent exporters for decyl oleate. This is expected to hamper the sales of decyl oleate in the said regions over the forecast period. Some prominent manufacturers in countries like Mexico are also focusing on the export of decyl oleate to cater to the increasing demand across various regions such as the U.S. and Europe.
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