Press release
Sodium Palmitate Market Driven by Microeconomic Factors
Sodium palmitate is a sodium salt of palmitic acid used as a cleaner in personal care as well as in laundry and dishwashing products. However, it is commercially produce from saponification of palm oil. It is used as an emulsifying agent in various personal care and other products including dishwashing and laundry products. The global sodium palmitate market is growing at a significant growth over the forecast period, owing to rapid growth of surface active agents in personal care industry. The Asia-Pacific sodium palmitate market accounts for relatively high revenue share, followed by North America sodium palmitate market, attributed rapid growth of pharmaceutical as well as personal care market.
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Global Sodium Palmitate Market: Dynamics
Microeconomic factors factor driving the global sodium palmitate market include growing personal care and pharmaceutical industry and high demand for emulsifying agents in both the industry particularly in regions such as North America, Asia-Pacific, and Europe. However, health hazards of palmitic acid including the risk of cardiovascular infraction may lead to restraining the global sodium palmitate market. Sodium palmitate use in soap will clean the skin but may dry it out which is also another important factor for restraining the global sodium palmitate market. Other side effects of sodium palmitate on human body including vomiting, diarrhoea, irritation to eye, skin and mucosal membrane, and respiratory distress and upper airway irritation most often in young children also expected to create an adverse impact on the global sodium palmitate market. The company manufacturing sodium palmitate products has a significant opportunity in regions such as North America, Europe, and Asia Pacific, attributed to high demand for personal care products across the regions over the forecast period. Companies have a significant opportunity in the global sodium palmitate market through collaboration with end-users i.e. personal care product manufacturers.
Global Sodium Palmitate Market: Segmentation
The global sodium palmitate market is segmented by end-use industry, application, and by region. The personal care industry segment is expected to contribute to the significant revenue share with a relatively high growth rate over the forecast period, owing to high demand for sodium palmitate in soap production. Pharmaceutical segment is followed by personal care industry in the global sodium palmitate market. By application segment, emulsifying segment is expected to contribute for relatively high revenue share in the global sodium palmitate market, attributed to significant demand for emulsifying agent in personal care as well as pharmaceutical products.
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Based on the end-use, the global sodium palmitate market is segmented into:
Pharmaceutical
Personal Care
Dishwashing and Laundry
Based on the application, the global sodium palmitate market is segmented into:
Viscosity Controlling Agent
Emulsifying Agent
Cleansing Agent
Global Sodium Palmitate Market: Regional Overview
By geographies, the global sodium palmitate market is segmented into seven regions -- North America, Western Europe, Asia-Pacific except Japan (APEJ), Eastern Europe, Latin America, the Middle East & Africa, and Japan. Among the regions, APEJ is expected to dominate the global sodium palmitate market, owing to a significant revenue share in personal care product market. North America is followed by Asia-Pacific in the global sodium palmitate market, attributed to rapidly rising demand for emulsifier in pharmaceutical industry. The Western Europe and Eastern Europe are expected to account for significant revenue share in the global sodium palmitate market with a moderate growth rate over the forecast period. Latin America and Middle East Africa is expected to have a moderate opportunity for the sodium palmitate market, owing to growing economy and relatively low-value share in the global personal care market. Overall, the outlook for the global sodium palmitate market will have a positive growth over the forecast period.
Global Sodium Palmitate Market: Key Players
Few players of global sodium palmitate market include Aurora Fine Chemicals LLC, Tokyo Chemical Industry (TCI), AHH Chemical Co., Ltd., Glentham Life Sciences Ltd., Ark Pharm, Inc., AK Scientific, Inc. (AKSCI), 1717 CheMall Corporation, Alfa Chemical Corp., Parchem Fine & Specialty Chemicals, and Acadechem Company Ltd.
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