Press release
Silicone in Personal Care Market Current Scenario with Future Trends Analysis to 2031
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.
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Silicones represent a class of synthetic compounds widely utilized in cosmetics and personal care formulations due to their ability to enhance product texture, spreadability, and overall performance. These ingredients contribute to a silky feel, assist in moisture retention, and provide a protective barrier against environmental aggressors for both skin and hair. The demand for silicones in personal care is projected to rise, driven by increasing awareness of personal hygiene, higher disposable incomes across various regions, and the growing influence of social media on consumer behavior.
Market expansion is further supported by the rapid growth of the cosmetics and nutraceutical sectors, along with a heightened consumer focus on skincare and wellness. Additionally, silicones contribute to product stability by improving formulation resilience under environmental stress, while ensuring smooth and even application.
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 growing demand for silicone in the personal care sector is largely driven by increasing health consciousness among consumers, who are becoming more aware of the benefits silicones offer for skin, hair, and overall personal grooming. Their multifunctional properties have led to the widespread incorporation of silicones into products such as sunscreens, moisturizers, and hair care solutions. As disposable incomes rise, particularly in emerging economies, there is a marked shift toward premium personal care products.
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Challenges:
Despite strong growth prospects, the silicone in personal care market faces notable challenges. Environmental concerns regarding the persistence and potential bioaccumulation of certain silicone compounds have raised sustainability issues. These concerns, coupled with growing regulatory scrutiny, have led to restrictions on the use of specific silicone ingredients in personal care products.
Regional Trends:
North America is expected to secure a significant share of the global silicone in personal care market, with projections indicating robust growth over the coming years. This growth is supported by increasing demand from the millennial demographic and heightened interest in personal care categories such as skincare, cosmetics, and hair care. The region's growing aesthetic awareness and rising disposable incomes further contribute to market expansion. Meanwhile, Europe also commands a substantial market share, propelled by the thriving cosmetics industry, increasing consumer inclination toward branded and innovative products, rapid urbanization, and ongoing advancements within the beauty and personal care space. These regional dynamics are anticipated to sustain momentum for silicone usage across the personal care landscape.
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.
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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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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.JPG
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