Global Allantoin Market is
expected to reach USD 641.7 million by 2022, according to a new study by Grand
View Research, Inc. Growing application scope of allantoin in pharmaceutical
industry is anticipated to drive market growth over the forecast period.
Growing
demand for allantoin in personal care products including toothpaste, mouth
wash, shampoos and conditioners is anticipated to augment allantoin market
growth over the next seven years. Furthermore, capacity expansions by key raw
material suppliers owing to increasing demand for glyoxylic acid in allantoin
production coupled with forward integration of suppliers in the value chain is
likely to propel demand.
Cosmetic application was the
largest segment accounting for 33.7% of global allantoin market revenue in
2014. Rising popularity of allantoin, owing to its moisturizing property and
keratolytic (skin-softening) effect, is expected to increase demand for
manufacturing numerous cosmetics, particularly sunscreens and moisturizers.
In depth research report on Allantoin Market
Further key findings from the study suggest:
•
Pharmaceuticals were the second
largest application segment of allantoin accounting for over 25% of the volume
share in 2014. Increasing application scope of allantoin in pharmaceuticals is
expected to drive market growth over the next seven years. Allantoin exhibits
superior cell proliferation properties, which is expected to increase its
market potential over the forecast period. The segment is also expected to
witness fastest growth at an estimated CAGR of over 5.5% from 2015 to 2022.
•
Asia Pacific was the largest
allantoin market, accounting for 31.6% of overall revenue in 2014. Cosmetic and
pharmaceutical industry growth particularly in China and India in light of
increasing urbanization and population growth is expected to propel allantoin
market over the forecast period. Furthermore, increasing support for the usage
of allantoin in manufacturing pharmaceutical products by key regulatory
agencies including U.S. FDA and European Commission is anticipated to propel
demand.
•
Allantoin demand in North
America and Europe is expected to be driven by growing pharmaceutical industry
in the region. In addition, allantoin is an effective plant growth regulator
and hence finds application in agrochemicals.
•
Major manufacturers in the
allantoin market include companies such as Ashland Inc., Clariant, Akema, Rita
Corp., Lubon Industry Co., Ltd. and Luotian Guanghui Chemical Co., Ltd.
Capacity expansion by major glyoxylic acid manufacturers particularly in China
is likely to increase allantoin availability in the future. As a result,
allantoin price is expected to witness low to moderate decline over the
forecast period.
For the purpose of this study,
Grand View Research has segmented the global allantoin market on the basis of
application and region:
Global Allantoin Application Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2012 - 2022)
•
Cosmetics
•
Pharmaceuticals
•
Oral hygiene
•
Others
Global Allantoin Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2012 - 2022)
•
North America
•
U.S.
•
Europe
•
Germany
•
Latin America
•
Brazil
•
Asia Pacific
•
China
•
MEA
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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