Cetyl Acetate Expected to Be Biggest Emerging Market by 2021
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The market for cetyl acetate was mainly driven by cosmetics industry. Huge demand from applications such as skin and cleansing products is driving the acetyl acetate market in past few years. Cetyl acetate is used as a moisturizing, skin conditioning, thickening agent in manufacturing of lotions and skin creams. In personal care industry, cetyl acetate is used as opacifier in shampoos. Cetyl acetate helps to keep the hair hydrated and offer softness. Other application such as baby products and makeup industry also exhibits higher demand for cetyl acetate. Due to its fruity smell, cetyl acetate is also preferred in perfumes and aromatics industry. Biomedical applications coupled with growing aromatic industry are likely to be one of the major opportunities for the cetyl acetate market in upcoming years. However, government regulations for regulatory committees FDA, US EPA and REACH are expected to hider the growth of the market in next few years.
Asia Pacific was the leading region in terms of demand for cetyl acetate market in 2013. Asia Pacific is the fastest growing markets for cetyl acetate due to increasing demand for cosmetic and personal care industry in this region. China had the highest demand for cetyl acetate in past few years. Other countries in Asia Pacific region such as Australia, India, South Korea, Taiwan and South Korea are likely to offer bigger markets for cetyl acetate in next few years to come.
However, India is one of the fastest emerging markets for the cetyl acetate and is anticipated to grow in upcoming years. In terms of demand, North America had the second-largest share in cetyl acetate market. Huge demand from cosmetics and personal care products such as shampoos, creams and makeup products has been driving the cetyl acetate market in North America. U.S. had the highest demand for cetyl acetate owing to huge cosmetics industry in this region, However, other countries such as Canada and Mexico are likely to grow in upcoming years owing to increase in demand for personal care products. Regulations from US FDA and US EPA can act as restraint to the market and hinder the growth of the market. Europe was the third-largest market share in the cetyl acetate market in 2013. Italy and France were the highest consumers of cetyl acetate in this region. Germany, the UK, Sweden and Spain are likely to exhibit stable demand for cetyl acetate in next few years. Rest of the World market is anticipated to show positive outlook for the cetyl acetate market in near future. Emerging countries such as Brazil, South Africa are likely to be potential markets for the cetyl acetate in years to come.
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Some of the key manufacturers in the cetyl acetate market are Chemos GmbH, Haihang Industry Co., Ltd., Jeen International, Rita Corporation and The Lubrizol Corporation among others.
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