MYRISTYL PALMITATE MARKET TO EXPAND RAPIDLY IN 2018-2028
Myristyl palmitate is a wax ester of palmitic acid that is used in the manufacture of personal care products and pharmaceuticals. Palmitic acid is a saturated fatty acid that occurs naturally in animals, plants and microorganisms and acts as an excellent emollient. Myristyl palmitate is a white to yellowish colored solid that has a high melting point and is insoluble in water. It is also known as myristyl palmitate, tetradecyl hexadecanoate, and tetradecyl hexadecanoate. Myristyl palmitate is used as a wetting agent and penetrates the cosmetic industry. In personal care products, myristyl palmitate is used in SoL products, hair damage products, sunscreens, etc. It is also used as a cleaning agent in laundry detergents or surfactants.
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Global Myristyl Palmitate Market: Dynamics
Increasing urbanization and lifestyle changes are increasing the demand for personal care and cosmetic products, which has a positive impact on the global myristyl palmitate market. However, the global market for myristyl palmitate is being driven by increasing demand from the pharmaceutical industry. Globalization, population growth and demographic change have contributed to the growth of the pharmaceutical industry, which will affect the demand for myristyl palmitate in the years to come. Given the growing consumption of organic or herbal cosmetics and hair products, market participants need to strike the right balance between high manufacturing costs for materials and strict legal frameworks that will drive demand for myristyl palmitate over the forecast period. In addition, increasing efforts for attractive clothing, curtains and innovative products for textile end uses or for customers require detergents, i. H. Surfactants and detergents. The worldwide market for myristyl palmitate is likely to show high growth in the coming years.
The raw materials needed to make myristyl palmitate include wax esters, palmitic acid, and other petroleum-based products. Volatile price changes for raw materials / hydrocarbon products based on petroleum (wax) lead to price fluctuations for myristyl palmitate, which have a negative impact on the global myristyl palmitate market. The consumption rate of myristyl palmitate is strongly influenced by demographic diversity. Changed demographic and income trends in personal care products or in the cosmetics industry around the world will create opportunities for the global Myristyl Palmitate Market during the forecast period.
It is estimated that changes in eating habits, the clinical picture related to age, a shift in daily activities, etc. will remain a key factor leading to increased demand from the pharmaceutical industry, which will be the main trends for the global myristyl palmitate market by the end of the year act forecast period.
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Global Myristyl Palmitate Market: Segmentation
The global Myristyl Palmitate Market can be segmented based on the following applications:
Global Myristyl Palmitate Market: Regional Outlook
Due to the geographic location, the global myristyl palmitate market can be divided into seven key regions i.e. H. North America, Japan, China, Eastern Europe, Latin America, Middle East and Africa, and Western Europe. The change in lifestyle standards in emerging economies like China and India is generating the demand of the cosmetics industry and increasing the production units of the cosmetics industry in SEA regions. It is estimated that this SEA region will be a significant platform for the myristyl palmitate market by the end of 2028.
In addition, the robust demand for cosmetics and personal care products in developing countries like Europe, North America, etc. is leading to a demand for myristyl palmitate in these regions. Hence, these regions are expected to achieve new highs in the myristyl palmitate market during the forecast period. In addition, the growing geriatric population in Europe, SEAP, MEA, etc., which led the demand from the pharmaceutical industry, is expected to represent a significant opportunity for myristyl palmitate in these regions in the years to come.
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Global Myristyl Palmitate Market: Market Participants
The global myristyl palmitate market is consolidated and is expected to remain that way throughout the forecast period. Market participants identified along the value chain of the global myristyl palmitate market include Larodan AB, Zhonglan Industry Co. Ltd., Wilmar Trading Pte. Ltd., Merck KGaA / Sigma-Aldrich Corporation, Mosselman Sa, Penta Manufacturing Company.
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