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Lanolin Market Size
- Report ID: GMI759
- Published Date: Dec 2018
- Report Format: PDF
Lanolin Market Size
Lanolin Market size was over USD 200 million in 2017 and industry expects consumption of above 50 kilo tons by 2024.
Emerging widespread trend of health and wellness lifestyle has led to rise in demand for natural and organic ingredients in personal care products which may drive market size. Global organic and natural cosmetics products market size may surpass USD 20 billion by 2024. Lanolin is an ointment like material which is obtained from the sebaceous secretion of the sheep extracted from the wool fleece of the animal. It is a natural moisturizer which protects and nourishes skin from environmental conditions. In addition, it is nontoxic and safe due to its compatibility with skin oil and sebum secretions, thus propelling product demand.
Global pharmaceutical products market may exceed USD 1.15 trillion by 2024. Growth in health care spending owing to growing occurrence of various medical conditions has led to increase in pharmaceutical products development for specific conditions which will propel industry growth, thus driving lanolin demand. Wool grease has antifungal & antibacterial properties which helps in preventing skin from dermatological issues. It is also use in ointments to treat skin rashes, burns and wounds which will boost market growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2017 |
| Forecast Period: | 2018 to 2024 |
| Historical Data for: | 2013 to 2017 |
| No. of Pages: | 155 |
| Tables, Charts & Figures: | 144 |
| Segments covered: | Application, Downstream Potential Derivatives and Region |
Growing application potential in industrial usage including, anticorrosion products, bio -lubricants, automotive, metal cutting, and leather industry will have positive impact on market growth. It is referred as a natural non-corrosive, water repellent alternative in petroleum-based lubricants which helps in protection against rust, acid and salts. Rising demand for bio-based alternatives to reduce dependence on conventional petrochemical based lubricants will favour product demand in this sector.
Complex refining process may lead to some left-over impurities in the product causing health risk which is likely to hamper industry profitability. High dependence on availability of sheep wool as the only source for commercial production act as another restraining factor which is likely to affect lanolin market price trends.
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Lanolin Market Scope
