Cetyl palmitate is a fatty acid ester derives from cetyl alcohol and palmitic acid. It is a palm oil derivative. The compound gives lubricating and non-greasy consistency to the pharmaceuticals, personal care, and cosmetic products. It is classified as skin conditioning masking emollient. Other names of cetyl palmitate include palmatic acid n-hexadecyl ester, N-hexadecyl palmitate, palmitic acid cetyl ester, palmitic acid hexadecyl ester, palmitic acid palmityl ester, hexadecyl hexadecanoate, and palmityl palmitate. The global cetyl palmitate market is expected to grow at a significant growth rate, attributed to high demand for the compound in the product across the various industries including food & beverages, pharmaceuticals, cosmetics, and personal care.
Global Cetyl Palmitate Market: Dynamics
Growing industries such as beauty & personal care and pharmaceutical are expected to fuel the global cetyl palmitate market over the forecast period. The emollient effect of cetyl palmitate in skin and hair care products is expected to create positive effect on its market in the beauty & personal care segment. Merger & acquisition among the end-user companies such as Proctor and Gamble Co., Pfizer Inc., Univar Inc., etc. and isodecyl citrate suppliers are the trending factor in global cetyl palmitate market over the forecast period. Whereas, high cost of isodecyl citrate is expected to restrain its growth in developing economies such as the Middle East and Africa and Asia Pacific. Companies manufacturing cetyl palmitate products can leverage potential opportunities in regions such as North America, Europe, and Asia Pacific.
Global Cetyl Palmitate Market: Segmentation
The global cetyl palmitate market is segmented on the basis of application, end-use industry, and region. Among the application segments, lubricating agent segment is expected to dominate the global cetyl palmitate market, attributed to high demand for the ingredient in skin softening products which have relatively high demand across the globe. On the basis of end-use industry, pharmaceutical industry segment is expected to dominate the global cetyl palmitate market. Whereas, cosmetic and personal care industry segment is expected to expand at a significant growth rate over the forecast period in global cetyl palmitate market.
On the basis of geography, the global cetyl palmitate market is fragmented into seven regions namely, North America, Western Europe, Asia Pacific excluding Japan (APEJ), Eastern Europe, Latin America, the Middle East & Africa and Japan. The North America market is expected to dominate global cetyl palmitate market in terms of revenue share over the forecast period followed by Western Europe cetyl palmitate market, attributed to increasing demand for the ingredient in beauty & personal care products. Whereas, Asia-Pacific is expected to expand at a relatively significant growth rate in the global cetyl palmitate market over the forecast period, owing to rapid growth rate of pharmaceutical industry in the region. The Middle East & Africa, Eastern Europe, and Latin America are expected to represent a moderate opportunity in the global cetyl palmitate market, owing to the moderate economic and industrial development in the region. Overall, the outlook for the global cetyl palmitate market is positive over the forecast period.
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Global Cetyl Palmitate Market: Key Players
Some of the players identified in the global cetyl palmitate market include Ashland Inc., BASF SE, Oleon NV, Dien Inc., BioCell Technology, LLC, Mohini Organics Pvt. Ltd., Aecochem Corp., Hangzhou J&H Chemical Co., Ltd., VMP Chemiekontor GmbH, Amadis Chemical Co., Ltd., Stepan Company (U.S.), Croda International Plc (U.K.), Caesar & Loretz GmbH, Haihang Industry Co., Ltd., CellMark AB, KHBoddin GmbH, Gihi Chemicals Co., Ltd., Mosselman S.A., Evonik Industries AG , SIGMA-ALDRICH Corporation, Hangzhou Dayangchem Co. Ltd., Lonza Group, Lubrizol Corporation, and Werner G. Smith Inc.