Carbomer Market Forecast and CAGR

According to the latest study by Fact.MR, carbomer market is expected to show progressive growth over the forecast period (2021-2031). Surging demand for carbomer from personal care products industry has ignited the sales during the assessment period. Moreover, business is projected to grow at CAGR of around ~5% over the projected forecast period.

What is Driving Demand for Carbomer?

Personal care products have been the bedrock for swelling demand of carbomer owing to increased adoption rates globally. These industries are constantly demanding carbomers based on its improved formulation and functional versatility.

Carbomer are finding the new avenues in the personal care products business and sequentially helping the business to portray prominence. Key players actively improving the present state of offerings and further looks for addition of more functional aspects to improve the product suit for other industries. The spiking adoption rates in personal care industry is equally contributing to business overall aspects including product diversification and innovation in functions.

Asia Pacific Carbomer Market Outlook

This region has always dominated the consumption potential for carbomer based on the fact that countries including India, China, Japan, ASEAN and etc. has been identified as the flag bearer for the business. These regions showcase notable consumer base who are consistently improving demand curve for these personal care products which shall indirectly improve the shipments of carbomer.

Historically business have been promising based on the pool of end users and strong consumption potential. Further, COVID-19 has marginally affected the dynamics relating to its adverse effects during Q2 and Q3 of 2020. Business has although showing the recovery sign with increasing the overall sales yet the desired potential is required to be reached.

COVID-19 Impact on Carbomer Market

COVID-19 has marginally affected the business of carbomer globally. Being at growing curve, business was completely relied on the end users including personal care and pharma products which left the business at stake with muted global supply and demand chain during pandemic. During the same, the manufacturing units and supply chain for carbomer suffered declines with rising infection rates for COVID-19 globally.

Even the governments across globe ordered manufacturing sites to remain shut which further degraded the potential of personal care products supply which notably affected Carbomer (Polyacrylic Acid) Market. Key geographies including Asia Pacific, North America and Europe were severely hit region which are key driving force for the business. This landed the business to remain at downfall during Q3 and Q4 of FY2020. Further, it is no discern that business is adopting recovery in its demand during Q1 and Q2 of FY2021.

This sign has given sense of satisfaction to prominent market giants including Evonik Industries, Lubrizol corporation etc. who were finding way to improve their sales revenue in this target business.