Increased applications of carbomer in the pharmaceutical industry are driving the global carbomer market.
The global Carbomer market is expected to develop USD1,022.9million by 2028, at a compound annual increase in price (CAGR) of 5.8% throughout the forecast period.
Covid-19 Impact & Market Status:
The ongoing epidemic has had an impact on all markets in the global economy in some way, and this market is no different. The growing popularity of cosmetics has resulted in an increase in demand for the raw ingredients used in their manufacture. Due to increasing use of hand sanitizers as a preventive step against the COVID-19 pandemic, this market has shown consistent performance even during the epidemic. The market was directly impacted by the urgent requirement for hand sanitizers in large quantities, as it is one of the pharmaceutical industry's intermediate inputs.
Travel restrictions during the pandemic hampered output in practically all industries, and carbomer, as a raw ingredient in manufacturing, was directly impacted by the reduction in production volumes. However, due to the urgent need for hand sanitizers, the market was able to quickly recover from the drop in demand.
Because of the need in many industries, the market is likely to grow even more in the next years. Because carbomer is widely employed as an intermediate ingredient in a wide range of industries, changes in demand in a specific end goods market have little impact on the market.
Personal Care Industry's Rapid Growth Will Open Up New Markets;
The personal care business is expected to be driven by growing quality of life, beauty and personal care's prospective impact on personal life, as well as advanced consumer trends toward luxury and personal care brands. Such features would increase product adoption even more. The product improves consistency of cosmetic products and facilitates retention of minute particles such as exfoliants and essential oils. Furthermore, rising consumer expenditure on personal goods, lotions, and creams, as well as increased skincare product development, will promote product adoption.
Increasing Pharmaceutical Industry Demand to Drive Market Growth
The pharmaceutical industry's increasing adoption will boost market growth. The pharmaceutical industry has grown globally as a result of factors such as rapid healthcare infrastructure development and rising consumer health awareness. The pharmaceutical industry's product demand has increased as a result of these factors. The product has bioavailability, good adherence, permanent suspension, and sustained-release properties. This makes it a great component for ocular, oral, nasal, intestinal, rectal, and vaginal applications, as well as medicine administration gel systems. In addition, when the need for carbomer in hospitals expanded, other firms began to supply carbomer for medical purpose.
A Significant Percentage Of The Worldwide Carbomer Market Is Accounted For By The Asia Pacific Region.
Asia Pacific controls a substantial percentage of the business due to the expanding end-uses of carbomer. The key factors such as increased investment on research and development, mergers and acquisitions, expansion of production plants, increasing demand for carbomer in countries like India, Japan, and China for use in cosmetics and pharmaceutical industry is driving the market share of APAC in global carbomer market.
Owing to benefits such as better absorption and good water retention property, stabilizer, control over the viscosity and flow of cosmetic products, the carbomer is experiencing rapid adoption as opposed to conventional alternatives thus fostering remarkable progress in global carbomer market.
The key factors such as carbomer’s suitability for pharmaceutical and personal care products, mixing technology increasing its application diversity, increased demand for carbomers due to increased demand for preparing hand sanitizing hydro-alcoholic gels is driving the global carbomers market.
Carbomer has tunable viscosity, unique visco-elastic properties and low toxicity renders it very attractive as thickening, suspending, dispersing, and stabilizing agent. These factors encourage rapid adoption of carbomers. The global carbomer market is estimated to reach close to USD 1,082.2 Million by 2029 with an annualized growth rate of 5.8%.
Carbomers are cross-linked acrylic acid polymers with a high molecular weight. Solutions like ethyl acetate and benzene, as well as cross-linking agents like pentaerythritol , polyallylether and polyallyl sucrose, are used to polymerize it. It is white, fluffy powders that thicken a range of products to prevent them from becoming liquid or flowing. They are typically made of polyacrylic acids. These are divided into many types based on their molecular weight. They're also employed to keep the emulsion from spreading by dispersing and suspending the solids in liquids. These substances have good thickening capabilities in water.
Relative ion, mucilage clarity, shear tolerance and flow qualities are all variables in the product. Its most well-known application is in the cosmetics industry, but it also has medical and hygienic uses. Furthermore, major market companies' innovation in the current state of personal care, cosmetics, and pharmaceutical products is driving demand for enhanced carbomer formulations. As a result, the carbomer market is expected to develop due to the positive expansion of these industries globally over the forecast period.
However, government rules aimed at reducing the usage of benzene polymerized carbomer in the pharmaceutical business are limiting market growth. Several hand sanitizers and aerosol pharmaceutical items have been recalled as a result of the contamination. As a result of these causes, some manufacturers switched to a different technique of product manufacturing, raising manufacturing costs. As a result, the carbomer market's expansion is likely to be stifled.
Nevertheless, carbomer’s suitability for pharmaceutical and personal care products, mixing technology increasing its application diversity, increased demand for carbomers due to increased demand for preparing hand sanitizing hydro-alcoholic gels is anticipated to be a growth opportunity for the global carbomers market
The major market players of Carbomer Market are Lubrizol, SNF Floerger, Evonik, Maruti Chemicals, Tinci Materials, DX Chemical, Sumitomo Seika, Corel and Newman Fine Chemical.
Major Developments in Global Carbomer Market: A Snapshot
- Lubrizol Corporation invested more than USD 25 million in its Calvert City, Kentucky manufacturing site in July 2021. This facility produces Pemulen polymeric emulsifiers and Carbopol polymers. With this investment, the company will be able to increase manufacturing capacity and update infrastructure at its Calvert City factory, all while increasing safety and quality.
Carbomer Market Scope
|Revenue forecast in 2028
|USD 1,082.2 Million
|CAGR of 5.8 % during 2021-2028
|Type,, Application, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|Lubrizol, SNF Floerger, Evonik, Maruti Chemicals, Tinci Materials, DX Chemical, Sumitomo Seika, Corel and Newman Fine Chemical.
Key Segments Global Carbomer Market
Type Overview, 2022-2029 (USD Million)
- Carbomer 940
- Carbomer 980
- Carbomer 934
Application Overview, 2022-2029 (USD Million)
- Personal Care and Cosmetics
- Pharmaceutical Industry
Regional Overview, 2022-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa