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Piroctone Olamine Market Size to Reach USD 32,825.92 Mn by 2027

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Piroctone Olamine Market Size to Reach USD 32,825.92 Mn by 2027

November 25
19:28 2021
Growth of cosmetic and personal care industry is driving the market growth at CAGR of 4.2% during 2020–2027

According to our latest market study on “Piroctone Olamine Market Forecast to 2027 – COVID-19 Impact and Analysis – by (Purity More Than 99% and Purity More Than 98%) and Application (Shampoo and Hair Care Products, Cosmetics, and Washing Products),” the market was valued at US$ 66,704.53 thousand in 2019 and is projected to reach US$ 92,013.30 thousand by 2027.

Strategic Insights

Report Coverage

Details

Market Size Value in

US$ 18,589.43 Million in 2019

Market Size Value by

US$ 32,825.92 Million by 2027

Growth rate

CAGR of 7.4% from 2020-2027

Forecast Period

2020-2027

Base Year

2020

No. of Pages

136

No. Tables

56

No. of Charts & Figures

67

Historical data available

Yes

Segments covered

Type and Application

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

 

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Piroctone olamine, an ethanolamine salt of hydroxamic acid derivative named piroctone, is an antifungal agent. It is frequently used in anti-dandruff shampoos as a replacement for the compound zinc pyrithione. Piroctone olamine, when used in combination with other substances in shampoos, effectively reduced the dandruff levels and simultaneously provided hair conditioning. The fungus Malassezia globosa is responsible for causing dandruff and seborrheic dermatitis. The presence of this fungus results in scalp irritation and scalp starts shedding tiny flakes. In severe cases, inflammation, redness, and extremely itchy patches can occur. The anti-fungal properties of piroctone olamine aid in controlling the spread of Malassezia globosa. In addition to this, piroctone olamine also helps make hair smooth and silky, prevents hair fall, and boosts the hair growth. Moreover, its antifungal properties also make it suitable active ingredient in creams, moisturizers, and other personal care products. It acts as a preservative and a thickening agent in cosmetics to limit the growth of germs and expand the shelf life of the product.

Growth of cosmetic and personal care industry is driving the piroctone olamine market growth at CAGR of 4.2% during 2020–2027

High disposable income and rising purchasing power are the factors enabling consumers to spend more on personal care products such as shampoos, moisturizers, and soaps. Moreover, rising concerns related to personal hygiene and increasing influence of social media and other promotional media have increased consumer awareness about wellness and hygiene products; this has significantly driven the growth of the personal care industry. Ongoing industrialization across the world, coupled with the growing personal care industry, is fueling the growth of the piroctone olamine market.

Impact of COVID-19 on Piroctone Olamine Market

COVID-19 outbreak first began in Wuhan, China, in December 2019, and since then, it has spread at a fast pace across the world. As of November 2020, the US, India, Brazil, Russia, Argentina, Spain, Colombia, France, Peru, Mexico, the UK, and South Africa are among the worst affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures, there are ~61,869,330 confirmed cases in the world, with ~1,448,896 total deaths. COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Chemicals & material is one the world’s major industries suffering serious disruptions due to supply chain breaks, technology events cancellations, and office shutdowns. China is the global hub of manufacturing and largest raw material supplier for various industries. The lockdown of various plants and factories in China, to contain the spread of the infection, is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales. In addition to this, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are restraining the growth of various markets related to the chemicals & materials industry, including the piroctone olamine market.

Download the Latest COVID-19 Analysis on Piroctone Olamine Market Growth Research Report at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00015679/

Piroctone Olamine Market: Application

Based on application, the piroctone olamine market is segmented into shampoo and hair care products, cosmetics, washing products. The shampoo and hair care products segment held the largest market share in 2019. The shampoo and hair care products segment led the piroctone olamine market with the largest share in 2019. Piroctone olamine penetrates the cell membrane of the fungi Malassezia globosa to interfere with their energy metabolism and oxygen uptake. This kills the fungi and clears up the infection, thereby lowering the dandruff, which otherwise causes hair loss and thinning. The compound is often compared to ketoconazole, which is a widely used ingredient in anti-dandruff products. However, piroctone olamine offers better results against dandruff and fungal infections.

Piroctone Olamine Market: Competitive Landscape and Key Developments

Several key players operating in the global piroctone olamine market include Spec Chem Industry Inc.; Starchem Enterprises Limited; Yantai Aurora Chemical Co., LTD.; Zhonglan Industry Co., Ltd.; Clariant; KOLON LIFE SCIENCE; Shandong Chuangying Chemical Co., Ltd.; Merck KGaA; JSN Chemicals LTD; Junwee Chemical Co., Ltd.

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