The global market for opacifiers is expected to register a CAGR of over 4% during the forecast period. The major factor driving the market studied is a growing demand from various applications. On the flip side, stringent environmental regulations and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- Applications of opacifiers in personal care are expected to grow at a considerable rate over the forecast period.
- The Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period, owing to the increasing consumption from countries, such as China, India, and Japan.
Key Market Trends
Increasing Demand for Personal Care Application
- The personal care segment accounted for one of the largest shares, in terms of applications of the opacifiers market in 2019.
- Opacifiers are additives and are used in shampoos and bath and shower gels, among others. They mainly offer dense, milky, or creamy appearances.
- Opacifiers, such as titanium dioxide, provide brightness and whiteness in surfactant-based formulations.
- Globally, the personal care market has been growing continuously with significant growth. Many companies are launching a new range of hair and body care products, as well as reintroducing some of their products in a new formula, which is attracting more consumers.
- Asia-Pacific represents the largest market for personal care products, due to its increasing population and growing awareness about wellness. In the Asia-Pacific region, countries, such as China, Japan, India, account for the major market for personal care.
- Additionally, the personal care market is growing at a positive rate in European countries, such as Germany, the United Kingdom, and Italy, among others. Germany represents the largest market for personal care and cosmetics in Europe. The country is also one of the major exporters of cosmetics and personal care products across the world.
- Additionally, the hair and skin care industry in Italy has shown promising growth over the years and is expected to remain positive over the forecast year as well.
- Therefore, the growing personal care sector is expected to boost the demand for opacifiers during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region accounts for the largest market for opacifiers during the forecast period.
- The growth from the personal care segment is majorly due to the increasing skin- and hair-related problems, like acne, rosacea, ichthyosis, dry hair, scalp diseases, grey hair, dandruff, and premature baldness, among others. This is likely to lead to a growth in demand for personal care products, and consequently, to the growth of the opacifiers market, across the region.
- Currently, the Asia-Pacific region accounted for more than 30% of the global beauty and personal care marketplace. Owing to the South Korean and Japanese innovation, coupled with the growing demand from China, the production of personal care products in the region is likely to increase in the coming years.
- The emerging economies, such as China, India, Indonesia, Vietnam, and the Philippines, in the Asia-Pacific region, have been witnessing a robust growth in construction activities. This is expected to considerably increase the growth for ceramics, plastics, and paints and coatings, among others.
- In Asia-Pacific, the construction sector has been witnessing robust growth, fueled by the increasing manufacturing and service sector infrastructure, increasing housing construction, and noticeable government spending on public constructions.
- Hence, with such trends, the demand for opacifiers in the Asia-Pacific region is expected to grow during the forecast period.
The global opacifiers market is partially fragmented. The major companies of the market studied include Dow, Arkema SA, Ashland, Tronox Holdings plc, and KRONOS Worldwide, Inc. among others.
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