Selenium Sulfide Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2623
Selenium Sulfide Market size is set to grow at substantial CAGR from 2018 to 2024. Selenium sulfide or selenium mono sulfide is a solid formulation of selenium and sulfur. It exists in either yellow-orange or bright orange in tablet or powder form at room temperature. it may or may not be soluble in water. Selenium sulfide was approved for medical use in the United States in the early 1950s. Selenium disulfide is an inorganic compound used as a medication to treat tinea versicolor (a fungus that discolors the skin), seborrhoeic dermatitis, and dandruff. selenium sulfide is an anti-infective agent as well as a cytostatic agent commonly used to treat fungal infections of the skin. It is applied to the affected area as a lotion or shampoo. Selenium disulfide is available as generic medication and over the counter.
Increasing popularity of selenium sulfide 99.0% due to its cost-effective properties and the increasing number of end-use applications for hair care, grooming and personal care products are primarily driving the demand for pure selenium sulfide market. In addition to this, the flourishing personal care industry wherein selenium sulfide is an important element, driven by the rising disposable incomes of consumers and changing lifestyle will propels the selenium sulfide demand across the globe. Furthermore, dermatological skin lotions and anti-dandruff shampoos are considered to be prominent application sub-segments and their increasing popularity in turn is projected to drive the growth of the global market for selenium sulfide.
Whereas on the other hand, the side effects of selenium sulfide include skin irritation, oily or dry scalp, temporary hair loss may occur. The carcinogenic properties of selenium sulfide have urged several governments to levy regulations for their use in personal care products. which acts as a major restraint to the growth of the selenium sulfide market.
The global selenium sulfide market could be segmented in terms of the different types of application and product grade. By grade selenium sulfide market can be split into selenium sulfide 99.0% and 99.99%. The latter one is more dominant due to its cost-effective features.
The application areas of the selenium sulfide market are personal care, veterinary medicine and others such as pharmaceuticals. In personal care, it finds its uses in shampoo and lotions. In veterinary medication it is used to cure eczema and dermatomycoses. For instance, selenium sulfide is employed in dog shampoos to remove excess oil and scaling of the skin. Hence, by application the selenium sulfide market is inclined towards personal care industry in the near future.
Growing demand for professional hair care products, especially in emerging economies, is a key factor driving the global selenium sulfide market. For example, consumers in countries such as Mexico, Brazil, Argentina, Thailand, Malaysia, India, and China have been opting for hydrating and anti-dandruff shampoos owing to climatic conditions. On the other hand, Asia Pacific accounted for the growth in the selenium sulfide market due to factors like increasing demand for personal care products and cosmetics, rapid growth in population and an increasing disposable income are positively impacting the lifestyle and buying preferences of consumers, which will supplement the personal care industry in the Asia Pacific market’s growth in coming years.
The selenium sulfide market is highly integrated and has been categorized as an oligopolistic environment globally. The highly consolidated nature of the market makes it difficult for small and medium scale companies to expand their existing shares. The competitive landscape includes key players such as Abcr GmbH, Wockhardt Limited, FAGRON, Alfa Aesar, G&W Laboratories, Omkar Speciality Chemicals, Salvi Chemicals, PhibroChem, Ochem, BOC Sciences, Glentham Life Sciences Limited., Chemieliva Pharmaceutical Company, Norris-Pharm Technology Co.,Limited., Tractus Company Limited, Sigma Aldrich to name a few. Players are increasingly adopting partnerships, mergers, and acquisitions as part of their key growth strategies.
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