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The market growth of personal care chemicals can be attributed to the growing utilisation of skincare products, especially by the young population. With the emerging trend of health and beauty, especially in the wake of the COVID-19 pandemic, the demand for scientifically proven personal care chemicals such as collagen and peptides, among others, is growing.
As the focus on healthy ageing and longevity is increasing, the inclination towards personal care chemicals that promote healthy skin is expected to surge. Furthermore, the growing launches and interest in male skincare products are likely to drive the market for personal care chemicals in the forecast period.
BASF SE (OTCMKTS: BASFY), one of the leading companies in the personal care chemicals market, launched Hydagen® Aquaporin, Hydrasensyl® Glucan, and Inolixir™ in January 2020. The products are the company’s latest active ingredients for personal care products that offer moisturising and soothing benefits to the skin. Hydagen® Aquaporin moisturises the skin and stimulates cellular water channel formations in the skin whereas Hydrasensyl® Gluca delivers short and long-term hydration while soothing the skin.
Moreover, Inolixir™ aids in reducing dark circles, fatigue lines, and dullness and offers anti-redness benefits. The company further announced that it was working for expanding its bioactive portfolio to enable their easy use in makeup applications and provide skincare benefits, such as radiance, hydration, UV, and air pollution protection, among others. Such innovations and developments are providing impetus to the growth of the market for personal care chemicals.
The major players in the global market are Ashland Global Holdings Inc., Merck KGaA, BASF SE, Clariant International Ltd, Evonik Industries AG, and Nouryon Chemicals Holding B.V., 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.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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