Carbomer Market to Grow at 7.3% CAGR, Anticipating USD 1,487.10 Million by 2030

New York, June 16, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Consegic Business Intelligence, the carbomer market is poised for strong expansion and is expected to reach USD 1,487.10 million by 2030. The market, which was valued at USD 848.19 million in 2022, the market is predicted to grow at a compound annual growth rate of 7.3% during the period 2023-2030. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the carbomer market.

Carbomers are cross-linked acrylic acid polymers that are produced by polymerization of acrylic acid or its derivatives with a cross-linking agent. The resulting polymer is then processed to synthesize carbomer in various forms namely, powder, liquid, and gel. Such forms of synthetic polymers are used as thickening, thickening, dispersing, and emulsifying agents in various industries including cosmetics, pharmaceuticals, and personal care products. Further, carbomers are widely used for the production of hygiene products such as hand sanitizers. In hand sanitizers, carbomers are used as thickeners to enhance the texture and spreadability of the product. Further, the thick consistency of the hand sanitizer containing carbomer ensures that the active ingredient remains on the skin for a longer period, allowing it to effectively kill bacteria and viruses.

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Global Carbomer Market Segmentation Details:

Based on Type, in 2022, the carbomer 940 segment contributed the largest market shares in the carbomer market. Carbomer 940 is a fluffy white powder polymer that can swell up to 1000 times its original volume when dispersed in water. It is an extremely efficient rheology modifier capable of providing high viscosity. As a result, of this property, carbomer 940 is widely used to manufacture hydro-alcoholic gels or sparkling clear gels and creams. Hence, the increasing demand for such products is driving the growth of the carbomer market.

Based on Form, in 2022, the gel segment contributed the largest market shares in the carbomer market and is expected to grow at the fastest CAGR over the forecast period. The carbomer gel forms a highly effective thickening and stabilizer agent that is used in the manufacturing of a wide range of products such as hair gel, shower gel, and sanitizers, among others. Further, carbomer gel helps to improve the texture and consistency of formulations particularly those containing high levels of surfactants which is the key driver contributing to the growth of the carbomer market.

Based on Application, the food supplement is anticipated to grow at the fastest CAGR over the forecast period owing to the widespread use of carbomers as stabilizers in solid and liquid food supplements to achieve a longer shelf life. Further, carbomer is particularly useful in a liquid food supplement that contains suspended particles to help prevent the particles from settling and clumping together, in turn, improves the appearance and quality of the product. Thus, the above-mentioned factors are expected to drive the market growth.

Based on End-Use Industry, in 2022, the personal care and cosmetic industry is anticipated to grow at the fastest CAGR over the forecast period owing to the increasing awareness regarding personal hygiene and grooming which are driving the need for cosmetic and personal care products. Carbomer acts as an emulsion stabilizer and thickening agent in the manufacturing of products such as body lotions, facial cleansers, hair creams, and lipsticks, among others.

For instance, according to IBISWorld, in 2020, the average annual expenditure on cosmetics, and other personal care products among U.S. consumers increased to approximately USD 199. Skin care products such as facial cleansers contributed to the highest number of unit sales among cosmetics in the U.S. Hence, the increasing demand for cosmetic products is boosting the revenue growth of the carbomer market in the region.

Based on Region, in 2022, North America accounted for the largest share contribution to the market growth owing to the growing pharmaceutical industries, particularly in the U.S., and the rising government investment in the development of pharmaceutical infrastructure. In the pharmaceutical industry, carbomer is chiefly used as rheology modifiers, tablet binders, suspension stabilizers, and bioavailability enhancers. Further, increasing research & development activities in the pharmaceutical industries in North America to introduce advanced products are surging the demand for pharmaceutical ingredients, including carbomers.

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Global Carbomer Market: Report Attributes

Competitive Landscape

The Lubrizol Corporation, Sumitomo Seika Chemicals Co., Ltd., and Corel Pharma Chem. are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more efficient, and cost-effective. Further, the carbomer market is expected to grow steadily due to increasing investment in the pharmaceutical sector. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.

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Recent Developments

• In April 2020, Lubrizol Advanced Materials, Inc., increased the production of its Carbopol polymers. Such types of polymers are increasingly used in the manufacturing of most hand-sanitizing gels and other hand hygiene products.

List of Major Global Carbomer Market:

• The Lubrizol Corporation
• Sumitomo Seika Chemicals Co., Ltd.
• Corel Pharma Chem.
• Azelis Canada Inc.
• Anhui Newman Fine Chemicals Co., Ltd.
• Hopax Chemicals Mfg. Co., Ltd.
• Maruti Chemicals
• Shreeji Chem.
• Libraw Pharma
• Otto Chemie Pvt. Ltd.
• Ashahi Chemical Industries (P) Ltd.

Global Carbomer Market Segmentation: 

• By Type
  • Carbomer 940
  • Carbomer 980
  • Carbomer 974p
  • Carbomer 934
  • Carbomer 934p
  • Others
• By Form
  • Powder
  • Gel
  • Liquid
• By Application
  • Skin Care
  • Hair Care
  • Ointments
  • Dishwashing Liquids
  • Cleaning Agents
  • Food Supplements
  • Drilling Fluids
  • Pesticides
  • Fertilizers
  • Others
• End-Use Industry
  • Personal Care and Cosmetic
  • Pharmaceutical
  • Food & Beverage
  • Household Products
  • Oil & Gas
  • Others

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Frequently Asked Questions in the Carbomer Market Report

• What was the market size of carbomer in 2022?

- In 2022, the market size of carbomer was USD 848.19 million.

• What will be the potential market valuation for carbomer by 2030?

- In 2030, the market size of carbomer will be expected to reach 1,487.10 million.

• What is the key restraint hampering the growth of the carbomer market?

- Government regulation imposed on the use of carbomer and natural alternatives to carbomer is the key factor likely to hinder the market growth.

• What is the dominating segment in the carbomer market, by end-user?

- In 2022, the food & beverage segment accounted for the highest market share in the overall carbomer market.

• Based on current market trends, which geographical region contributed the largest share of the market?

- North America contributed to the largest market share in the carbomer market.

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