Carbomer Market Size, Share & Industry Analysis, By Type (Carbomer 940, Carbomer 980, Carbomer 934, and Others), By Application (Personal Care and Cosmetics, Pharmaceutical Industry, and Others), and Regional Forecast, 2024-2032

The global carbomer market size was valued at USD 758.9 million in 2023. The market is projected to grow from USD 805.3 million in 2024 to USD 1,299.4 million by 2032, recording a CAGR of 5.8% during the forecast period of 2024-2032. Asia Pacific dominated the carbomer market with a market share of 37.60% in 2023.

Carbomers are high molecular weight cross-linked acrylic acid polymers. They are polymerized with the help of solutions, such as ethyl acetate, benzene, and cross-linking agents, such as pentaerythritol polyallylether and polyallyl sucrose. They offer properties, such as flow characteristics, relative viscosity, suspending ability, mucilage clarity, and variation in relative ion & shear tolerance. They are known for their use in the cosmetic industry, and also have practical applications in medicine and hygiene. Moreover, innovation in personal care, cosmetics, and pharmaceutical products by leading market players is pushing the demand for more improved product formulations. Thus, the favorable growth of these industries globally is anticipated to drive the market growth during the forecast period.

The COVID-19 pandemic hampered the product’s production due to lockdowns, social distancing norms, and trade bans, which caused enormous disturbances in the global supply chains. The personal care industry’s manufacturing was temporarily shut down due to lockdowns in many nations, affecting carbomer production and consumption. However, rapid growth in the healthcare industry, coupled with increasing demand for hand sanitizer, offset the consumption of the product. Additionally, post-pandemic, many governments are trying to get their economies back on track. As a result, the market is estimated to stabilize in the next couple of years.

Carbomer Market Trends

Rapidly Growing Personal Care Industry to Create Market Opportunities

The improving quality of life, strong impact of beauty & personal care products on personal life, and high consumer inclination toward luxury and personal care brands are projected to drive the personal care industry. Such factors will also increase the adoption of carbomer. The product aids in the consistency and flow of cosmetics products, providing a smooth, silky texture to lotions, creams, and gels. For instance, in skincare, carbomer acts as an emulsifier and prevents the separation of oil and water in the products. Further, it also absorbs and retains water, which results in a richer and creamier texture of the products. In hair care, it is highly adopted as it controls the consistency of the product and makes it easily spreadable. It is highly compatible with other ingredients and used in many formulations. Additionally, the product serves as a suspending agent that aids in the retention of tiny particles, such as exfoliants and essential oils in the mix, thereby allowing the components to be applied with minimal effort on the skin. Moreover, the rising innovations in skincare products and increasing consumer expenditure on personal care products, lotions, and creams will fuel the product adoption. Hence, this will create market opportunities during the forecast timeframe.

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Carbomer Market Growth Factors

Increasing Demand from Pharmaceutical Industry to Fuel Market Growth

The rising demand from the pharmaceutical industry is a key factor driving the growth of the market. Carbomers found a wide range of applications in several pharmaceutical formulations owing to their unique properties, such as transparency, high viscosity at lower concentrations, and superior stabilizing features. Furthermore, effective stabilizing and thickening properties of the product are driving their demand for the production of creams and lotions. Moreover, controlled-release medicines have been increasingly used in the last few years. This has surged the need for carbopol to swell and release the drug in a controlled manner. It also offers a good solution for the formulation of effective controlled-release dosage forms, including capsules and tablets. Hence, the rising demand for controlled-release dosage forms owing to rising cases of chronic diseases, coupled with expansion of the pharmaceutical industry will spur the carbomer market growth.

RESTRAINING FACTORS

Government Regulations Imposed on Benzene Polymerized Carbomer to Restrict Market Growth

Government regulations imposed on benzene polymerized carbomer to reduce its use in the pharmaceutical industry are restraining the market growth. According to the U.S. Food and Drug Administration (FDA), benzene is a carcinogen that causes leukemia and other blood diseases in humans. Its contamination has caused the recall of several hand sanitizers and aerosol medication products. These factors compelled several manufacturers to switch to an alternative method for making their products, thereby surging the cost of manufacturing. This is anticipated to hamper the market growth.

Carbomer Market Segmentation Analysis

By Type Analysis

Others Segment to Experience Significant Growth Owing to Their Suitability for Different Applications

Based on type, the market is segmented into carbomer 940, carbomer 980, carbomer 934, and others. The others segment is  the leading segment of the carbomer market growth. This segment includes the rest of the grades, such as 981, U-20, U-21, 340, 341, 380, 381, 396, 640, 676, 141, 140, and many others.

On the basis of variety of characteristics, all these products are suitable for different applications in personal care & cosmetics, pharmaceuticals, and miscellaneous industrial cleaning systems.

Carbomer 940 provides excellent thickening, high viscosity, and higher suspending performance in a low dose. These properties increase its use as a rheology modifier in personal care & cosmetic products, which is further driving the growth of the carbomer 940 segment.

The Carbomer 980 segment is expected to indicate the fastest growth in the global market during the forecast period. The popular applications of carbomer 980 include hair styling gel, moisturizing gels, bath gels, hand lotions, body lotions, and face lotions. Increasing adoption of thickening agents in these products is pushing the demand for carbomer 980 in the global market.

The carbomer 934 polymer offers a creamy sensory profile and hence, is preferred as a rheology modifier in cosmetic creams and lotions and formulations including emulsions, heavy gels, and suspensions.

By Application Analysis

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Personal Care and Cosmetics Segment Dominated Market in 2023 Due to Rising Consumer Preference for These Products

Based on application, the market is categorized into personal care and cosmetics, pharmaceutical industry, and others. The personal care and cosmetics segment held a dominant carbomer market share in 2023. In personal care and cosmetics manufacturing, the product is used as a gelling agent or emulsifier to thicken the formulations. Their main application includes facial cleansers, soaps, body washes, conditioners, hair color, shampoo, styling, sun care, and lotions. The increasing consumer spending on cosmetics is encouraging leading key players to innovate their current line of products. This, in turn, is creating a healthy atmosphere for the growth of this segment in the global market.

In the pharmaceutical industry, the product is majorly used as a rheology modifier, suspension stabilizer, tablet binder, disintegrants, and suspending agents, mucoadhesive aid, and bioavailability enhancer. Increasing research & development activities in the pharmaceutical industry to introduce advanced products is surging the demand for pharmaceutical excipients, including carbomers.

The others segment includes paints, coatings, dyestuffs, surfactants, and cleaner applications. In these applications, the product acts as a stabilizer, rheology modifier, and thickening agent. With the increasing demand for paints, coatings, and surface cleaners, the others segment is expected to show steady growth during the forecast period.

REGIONAL INSIGHTS

By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Asia Pacific

The market size in Asia Pacific was valued at USD 301.8 million in 2023. China held a lion’s share of the regional market backed by higher product consumption by all end-use industries. The country’s burgeoning beauty industry, fueled by a rising middle-class population and increased disposable income, has significantly boosted the demand for cosmetics. This growth has, in turn, driven the demand for essential ingredients, such as carbomer, which is widely used in various personal care products, including color cosmetics, skincare, hair care, and toiletries. As China's beauty consumerism continues to soar, mirroring the global trend, the regional market is expected to expand further, solidifying China's position as a major player in the global cosmetics industry.

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North America

In North America, the U.S. is a leading consumer. The rapid expansion of the healthcare industry, coupled with increasing research and development activities, has fueled the regional market growth. Additionally, increasing online purchase of cosmetic products by consumers will further boost the product adoption in this region.

Presence of large-scale manufacturers, such as L’Oréal, Unilever, and Estée Lauder in Europe has created healthy competition in the regional cosmetics industry over the years. The higher demand for premium make-up products due to the evolving fashion industry has boosted the demand for emulsion stabilizers and thickening agents, including carbomer.

On account of rising social media influence, Latin American consumers are becoming more aware of the benefits of cosmetic and pharmaceutical products. Steadily growing consumer desire for a healthy lifestyle in the region has provided a concrete roadmap for both home-grown and international players to invest more in the domestic cosmetics industry. The growing demand for halal personal care products in the Middle East & Africa is pushing the product demand as certain product grades are accepted as halal-certified cosmetic ingredients. In addition, increasing public and private investment in the development of a robust pharmaceutical infrastructure is pushing the demand for pharmaceutical excipients, thereby boosting the product adoption in this region.

List of Key Companies in Carbomer Market

Capacity Expansion was Key Strategic Initiative Implemented by Companies to Increase their Market Presence

Key producers operating in the market are The Lubrizol Corporation, Anhui Newman Fine Chemicals Co., Ltd., Tinci Materials, and Evonik Industries. These companies are focused on capacity improvements, product innovations, acquisitions, and collaborations. Anhui Newman Fine Chemicals Co., Ltd. is engaged in the manufacturing, research & development, and marketing of acrylate copolymers and polyacrylic acid carbomers. The company has an annual production capacity of 4,000 MT of powdered carbomer and 6,000 MT of liquid acrylates copolymer.

LIST OF KEY COMPANIES PROFILED

• The Lubrizol Corporation (U.S.)
• Guangzhou Tinci Materials Technology Co., Ltd. (China)
• SNF (France)
• Evonik Industries (Germany)
• SUMITOMO SEIKA CHEMICALS CO., LTD. (Japan)
• Anhui Newman Fine Chemicals Co. Ltd. (China)
• Corel Pharma Chem (India)
• Guangzhou DX Chemical Co., Ltd. (China)
• Maruti Chemicals (India)
• Haihang Industry (India)

Key Industry Developments

• April 2024: Lubrizol Life Science Beauty (LLS Beauty) launched a biodegradable and sustainable carbopol polymer: the Carbopol Fusion S-20 polymer. The newly launched product is inherently biodegradable and offers efficient rheology modification by providing thickening and suspension properties like acrylate copolymers.
• January 2024: The Lubrizol Corporation introduced a new visual identity for its Carbopol brand of carbomers. The color palette and key visuals of the newly designed logo reflect the company's vision for its Carbopol brand.
• October 2023: Lubrizol launched new food-grade carbopol polymers approved by the European Commission. The newly launched products are intended for use in nutraceuticals and anticipated to enable manufacturers to develop new products and widen their portfolio.
• July 2021: The Lubrizol Corporation invested more than USD 25 million in its manufacturing facility located in Calvert City, Kentucky. The facility specializes in the manufacturing of carbopol polymers and Pemulen polymeric emulsifiers.

REPORT COVERAGE

The report provides a detailed analysis of the market. It focuses on key aspects, such as leading companies, forging types, compositions used to produce these products, and end-use industries of the product. Besides this, it offers insights into the current market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors contributing to the market's growth.

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Report Scope & Segmentation