European personal care ingredients market shows signs of recovery
Recovery in sales in first half of 2010
Despite the negative effects of the recession, the European personal care ingredients market has experienced continued growth in the last few years according to a new survey by Kline & Company.
Kline’s Global Personal Care Ingredients 2010: Market Analysis and Opportunities found that personal care ingredients saw a sharp rebound in sales in the first half of 2010, outperforming most other end-use industries that use speciality chemicals.
Furthermore, Kline expects the market to increase at an annual volume growth of 2.6% to 2014, with the green trend expected to see the largest increase in sales.
The research specialist highlights speciality surfactants, conditioning polymers and emollients as leading product categories, representing 23%, 18% and 16% of the market and $1.74bn in financial terms. The use of UV absorbers has also increased according to Kline due to their use in every day skin care products.
“After a difficult period when price was the key purchasing criteria, the return of innovation as a key buying factor for formulators will create an opportunity for suppliers to develop more added value and take market shares from established products,” said Anna Ibbotson, industry manager at Kline’s Chemicals and Materials division.
