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The global market for borneol is being driven by the rising personal care industry. Perfumes and deodorants have become an integral part of the products of personal care that boost awareness of the importance of personal hygiene. The rising urbanisation and the improving living standards of the middle class due to the rise in disposable incomes are expected to drive the perfume industry, further boosting the growth of the borneol industry. With the continuing expansion of major retailers like Amazon (NASDAQ: AMZN) and Walmart, especially into emerging markets, the market for personal care products such as perfumes and deodorants are expected to witness a robust growth in the coming years, thus, propelling the growth of the borneol industry forward.
The existence of various specialty chemicals and bulk chemical manufacturers have been driving the demand for the product, especially in North America and Western Europe. There have been several transformations in the production methods that are expected to drive the growth of the borneol industry in these regions. The growth of large end-use industries, including maritime, construction and infrastructure, and automotive and transport industries, among others, is likely to boost the industry in the Asia Pacific.
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The major players in the global borneol market are Santa Cruz Biotechnology, Inc., Hunan Sonbon Forestry Science & Technology Co., Ltd., and VDH Organics Pvt. Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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