Piroctone Olamine Market: Introduction
Transparency Market Research delivers key insights on the global piroctone olamine market. In terms of revenue, the global piroctone olamine market is estimated to expand at a CAGR of 4.6% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecast in its report on the global piroctone olamine market.
The global piroctone olamine market is broadly affected by several factors, including increase in usage of piroctone olamine in various applications such as hair care, anti-acne products, and deodorants. The rise in global demand for hair care and anti-acne products has led to significant growth in usage of piroctone olamine.
Moreover, the increase in production and demand for anti-dandruff shampoos is expected to be the primary driver of the global piroctone olamine market.
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Piroctone Olamine Market: Dynamics
Piroctone olamine is the ethanolamine salt of the hydroxamic acid derivative piroctone. It is often used in anti-dandruff shampoos as a replacement for the commonly used compound zinc pyrithione. Piroctone olamine is primarily used to treat psoriasis, dandruff, hair fall, and scalp dryness.
Increase in hair issues, including hair fall, dandruff, itchy scalp, and dryness, due to climate change, rise in pollution, and changing lifestyle are key factors driving the piroctone olamine market.
People are becoming increasingly concerned about a variety of hair-related issues as a result of their daily exposure to harsh sunlight, unhygienic atmosphere, and other harmful chemicals. As a result, there has been a significant surge in demand for various hair care products, including shampoos with piroctone olamine composition.
Piroctone olamine has been widely used in a variety of personal care products for more than 30 years due to its properties such as low toxicity, improved solubility, and compounding capabilities. As a result, the piroctone olamine market is driven by rise in demand for piroctone olamine over that for ketoconazole, climbazole, and zinc pyrithione.
The global hair care segment is expected to expand considerably during the forecast period. Thus, rise in production of hair care and anti-acne products, and deodorants is projected to boost the demand for piroctone olamine during the forecast period.
Manufacturers are focusing on hair care, as the share held by the segment in the piroctone olamine market is likely to increase during the forecast period.
Piroctone Olamine Market: Prominent Regions
Asia Pacific holds the major share of the global piroctone olamine market. The market in the region is anticipated to expand at a CAGR of more than 5% during the forecast period. Increase in demand for piroctone olamine in various components such as hair care, anti-acne products, and deodorants is driving the piroctone olamine market in Asia Pacific.
China is a key country of the piroctone olamine market in Asia Pacific. It held significant share of the piroctone olamine market in Asia Pacific in 2020. The country is estimated to maintain its dominant position in the market in the region during the forecast period.
Europe is also a prominent region of the global piroctone olamine market. Germany led the piroctone olamine market in Europe in 2020. The rise in demand piroctone olamine in hair care products, anti-acne products, and deodorants in Germany is driving the market in the country.
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Piroctone Olamine Market: Major Players
The global piroctone olamine market is consolidated with the presence of key players. Prominent players operating in the global piroctone olamine market include Lonza, Clariant, Spec Chem Industry Inc., YanTai Aurora Chemical Co. Ltd., Kumar Organic Products Limited, Somu Group, Zhonglan Industry Co. Ltd., Wuxi Zhufeng Fine Chemical Co. Ltd., Qingdao Fihonor Chemical Science & Technology Co. Ltd., and Shandong Chuangying Chemical Co. Ltd.