Emollients Market (2022 - 2030)

Emollients Market Summary

The COVID-19 pandemic had a negative impact on the emollient market. The pandemic led to the sealing of national borders and the temporary shutting down of various industries globally in 2020. Before the COVID-19 pandemic, numerous countries were dependent on China for raw material supply. In 2020, restrictions imposed by the government on transportation and lack of raw materials supply from China resulted in less production of emollients.

The demand for emollients in personal care products is rising significantly due to the rise in skin diseases worldwide. Skin diseases such as acne, itching, dryness, and fissure, among others are rising in the U.S. Acne is the most prevalent skin disease in the U.S. and it is most common in adults.

According to the American Academy of Dermatology Association, between the ages of 12 and 24, around 85% of individuals have at least mild acne in U.S. Such factors are increasing the demand for skin care products which in turn is expected to drive the market.

Form Insights

The liquid segment accounted for the largest revenue share of 69.0% in 2021 and is expected to retain its position over the forecast period. Emollients are usually available in liquid form. Natural emollients such as fatty acids, oils, and lipids are majorly found in liquid form. Moreover, synthetic emollients such as butylene glycol and capric/caprylic triglyceride are also offered in liquid form owing to their applications in liquid personal care formulations such as creams, lotions, moisturizers, and shampoos, among others.

The solid segment is expected to attain the fastest CAGR of 5.1% over the forecast period 2022-2030. Several industry players are offering semi-solid, powdered-based, and waxy-solid emollients to various personal care and cosmetics manufacturers. Various companies are developing solid personal care products for long shelf life and better handling. For instance, Evonik Industries AG offers shampoo powder, a conditioning shampoo bar, and a hair conditioning bar to consumers across the globe. Such innovations are expected to drive solid emollient market growth.

Application Insights

The skin care segment accounted for the largest revenue share of 38.7% in 2021 and is expected to retain its position over the forecast period. This can be attributed to the increasing use of skin care products such as moisturizers, creams, and lotions, among consumers. Also, the increasing use of plant-based emollients in the personal care industry is further driving market growth. Several personal care product manufacturers are developing new products by using plant-based oil to provide effective personal care solutions to consumers. In August 2022, OrgaGlo entered the Indian market with around 18 latest products including hair care and skin care products which include plant-based ingredients.

The hair care segment is expected to exhibit the fastest CAGR of 5.2% in the forecast period 2022-2030. Increasing consumer awareness of beauty and personal care is driving the demand for hair care products such as shampoos, conditioners, hair masks, creams, and hair gels, among others which in turn are expected to propel the emollient market growth. Emollients are used in hair care products to provide hydration.

Type Insights

Based on type, the market has been segmented into esters, fatty alcohols, ethers, fatty acids, and silicones. The esters segment dominated the market and accounted for the largest share of 40.4% in 2021 in terms of revenue and is expected to continue to dominate the market over the forecast period. Esters such as isopropyl myristate, C12-15 alkyl benzoate, cetyl palmitate, and myristyl myristate are extensively used in the preparations of personal care emollients. In June 2017, BASF SE opened a new USD 22 million production facility in Shanghai, China for emollients and waxes. This production plant was aimed to meet the increasing demand for Asia Pacific’s personal care market.

The fatty acids segment is expected to attain a CAGR of 5.5% over the forecast period 2022-2030. This can be attributed to the unique properties of fatty acids as emollients such as skin-hydrating properties by sealing in the skin’s moisture. Fatty acid emollients also reduce the evaporation of the surrounding atmosphere. Some of the common fatty acids used as emollients are glycerides, phospholipids, and sterols.

Several makeup manufacturers are using various types of fatty acid emollients in their products for a better consumer experience. For instance, in January 2022, Charlotte Tilbury released a new medium-coverage foundation. This foundation is suitable for fair, deep tones, medium, or tan, as well as warm, cool, and neutral undertones. The foundation contains hyaluronic acid to moisturize, along with coconut ingredients to plump and fortify the skin barrier and Bix'Activ (a plant-derived chemical).

Regional Insights

Asia Pacific dominated the market with a revenue share of 32.7% in 2021. The region is expected to maintain its position in the market during the forecast period. The population of Asia makes up almost 60% of the entire world's population, making it the simple majority. Emollients are used as important ingredients in various personal care products such as shampoos, conditioners, moisturizers, lotions, and deodorants, among others. Increasing consumption of such products in the region is expected to drive the market.

North America is expected to expand at a CAGR of 4.8% over the forecast period. This is due to the increasing demand for personal care and cosmetic products in the U.S. According to L'ORÉAL 2021, the U.S. and China are the major growth drivers for cosmetics.

Rising skin-related diseases in the region are driving the demand for skin care products which in turn are expected to propel the market growth in the region. According to the National Psoriasis Foundation, in the year 2021, more than 8 million Americans, suffer from psoriasis. Emollients help protect the skin, encourage healing, and prevent symptom recurrence.

Key Companies & Market Share Insights

The global emollients market is highly competitive owing to the presence of various global and regional market players. The world’s leading companies are undertaking strategies such as partnerships, collaborations, acquisitions, mergers, and agreements to withstand the intense competition and increase their market share.

Emollients manufacturers are spending extensively on research and development activities to develop advanced products and integrate new technologies and characteristics to lead a sustainable future. For instance, in September 2021, BASF SE announced an innovation partnership with a U.S.-based technology startup, RiKarbon Inc. This partnership was built due to the successful research and development activities of RiKarbon for new bio-based green emollients. Some of the prominent players operating in the global emollients market are:

• BASF SE

• Clariant

• Eastman Chemical Company

• The Lubrizol Corporation

• Covestro AG

• Evonik Industries AG

• Hallstar

• Croda International PLC

• Ashland Inc.

• Sasol

• Lonza

• Stepan Company

• Oleon Health and Beauty

• Solvay

• Vantage Speciality Chemicals.

Emollients Market