Diisobutyl Carbinyl Acetate Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1543
Diisobutyl Carbinyl Acetate Market size is likely to witness gains as it finds its uses in the cosmetics and perfumes industry. It is a colorless to pale yellow color liquid with a floral and fruity fragrance similar to that of a pear.
The product is synthesized through the acetylation process of dimethylbenzyl carbinol and the subsequent liquid is a fragrance element for cosmetics and perfumes. The cosmetics industry is witnessing substantial growth due to increasing use of these products among young and middle age women. In 2016, the global cosmetic market was valued over USD 450 billion and will witness further growth at a CAGR of over 5%. Rapid lifestyle changes, rising GDPs of the emerging economies, growing demand for personal care products, advanced beauty treatments, and increasing awareness of personal care and cosmetic products are the key factors driving the cosmetics industry, which in turn is driving the global diisobutyl carbinyl acetate market.
In the developing countries, the middle-class population is expanding widely, leading to a rise in demand for perfumes and fragrances, which is considered as a premium segment. The global perfumes market was valued close to USD 40 billion in 2016. In Asia Pacific, countries like India and China have massive population, rising disposable income of people and purchasing power parity, which will have considerable contribution to the perfumes and fragrance industry. This is one of the key factors contributing to the global diisobutyl carbinyl acetate market.
Other than its use in the cosmetics and perfumes, the product also finds its uses in small amounts in toiletries, soaps, air fresheners and detergents. Air fresheners are used on a commercial scale in offices, restrooms, homes, and wellness spas. They help maintain freshness and air quality with pleasant fragrances to make people feel better and rejuvenated. Growing hospitality sector on the account of increasing global tourism trend may also drive the diisobutyl carbinyl acetate market in coming years.
Increasing awareness and use of natural additives in cosmetics and perfumes can result in hindering the growth of diisobutyl carbinyl acetate market. Also, the price volatility of raw materials and easy availability of substitutes may also inhibit the global diisobutyl carbinyl acetate market growth.
Use of different fragrances and perfumes has become sense of pride, confidence, and self-reliance. From being a non-essential product, perfumes and fragrances have turn out to be essentials in today’s era. Also, wide range of perfumes with different quality allows people of all classes to use them. These factors will make fragrances an important application segment of the diisobutyl carbinyl acetate market.
On the basis of region, the global diisobutyl carbinyl acetate market is divided into Asia Pacific, Europe, North America, Latin America and Middle East & Africa. Asia Pacific, led by China, Japan, India, and South Korea, holds a major share of the global diisobutyl carbinyl acetate market. Growing tourism activities coupled with availability of raw materials in the Southeast Asian countries will also have a positive influence on the industry. The diisobutyl carbinyl acetate market in the developed region of North America and Europe will grow at a steady pace owing to high affordability along with the presence of world class perfume manufacturers in France and Italy.
The significant players in the global diisobutyl carbinyl acetate market include Goldschmidt, P&G Chemicals, Emery Oleochemicals, Simagchem Corporation, Amyris, Jinan Haohua Industry Co Ltd, Hangzhou J and H Chemical Co Ltd, Hangzhou Dayangchem Co Ltd, SIGMA-ALDRICH Corporation, Reuter Chemische Apparatebau KG, Gihi Chemicals Co Ltd, Biesterfeld Spezialchemie GmbH, Karl H. Boddin Chemiehandel GmbH, Suzhou Bichal Biological Technology Co Ltd, Merck Schuchardt OHG, Santa Cruz Biotechnology Inc, Clearsynth Labs Limited, Magna-Kron Corp, Codexis, Solazyme, and Gevo.
Companies are adopting aggressive marketing strategies and economies of scale in order to expand their market share and survive competition. Some diisobutyl carbinyl acetate market participants are also shifting their production facilities to emerging economies of Asia Pacific due to the government subsidies, and availability of land and cost efficient labor.
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