Market Analysis: Niacinamide for Personal Care Market, Palm Methyl Ester Derivatives Market, Paint-Coated Steel StrappingMarket for 2023-2030

SEATTLE, WASHINGTON, USA, July 7, 2023/EINPresswire.com/ -- The Niacinamide for Personal Care Market is expected to grow from USD 14.00 Million in 2022 to USD 17.00 Million by 2030, at a CAGR of 3.29% during the forecast period.The Niacinamide for Personal Care market has witnessed significant growth in recent years, primarily due to increasing consumer demand for skin care and hair care products that contain niacinamide. Niacinamide, also known as vitamin B3, is a water-soluble vitamin that has been found to improve the skin's elasticity, reduce inflammation, and help reduce the appearance of fine lines and wrinkles.The target market for Niacinamide for Personal Care products is primarily women, but men are also increasingly using these products. The rising demand for personal care products, such as cleansers, moisturizers, and hair care products, that contain niacinamide has led to a significant increase in revenue growth in this market.

There are two types of niacinamide available for personal care -

• Cosmetics Grade
• Other Grade
The cosmetics grade niacinamide is highly purified and contains a higher percentage of niacinamide, making it suitable for use in premium personal care products. On the other hand, other grade niacinamide has a lower purity, making it cheaper and more accessible for use in economy personal care products.

The niacinamide for personal care market is experiencing significant growth in various regions, including North America, Europe, APAC, the USA, and China. In North America, the market is being driven by the increasing demand for anti-aging and skin lightening products. In Europe, the growth is attributed to the rising demand for natural and organic personal care products. APAC, particularly China, is seeing a surge in the adoption of niacinamide as an active ingredient in skincare formulations due to the surge of the middle-class population and rising awareness about personal care. Furthermore, the USA is estimated to experience growth due to the increasing demand for cosmetic products. Overall, the market for niacinamide for personal care is expected to continue growing in the upcoming years, driven by the growing demand for natural and organic personal care products.

The global Niacinamide for Personal Care Market is highly competitive, with several key players operating in the market. These players are Lonza, DSM, Vertellus, Zhejiang Lanbo Biotechnology, Jubilant Life Sciences, Lasons India, Tianjin Zhongrui Pharmaceutical, and others.

Sales revenue figures of some of the above-listed companies are as follows:

- Lonza: USD 5.5 billion in 2020
- DSM: EUR 8.1 billion in 2020
- Jubilant Life Sciences: INR 99.6 billion in 2020

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The Palm Methyl Ester Derivatives Market is expected to grow from USD 1.20 Billion in 2022 to USD 1.80 Billion by 2030, at a CAGR of 5.90% during the forecast period.The Palm Methyl Ester Derivatives market is expected to experience steady growth over the forecast period, primarily driven by the increasing demand for biodiesel and other biofuels. Palm oil is a widely used source for the production of methyl ester derivatives due to its cost-effectiveness and easy availability. The market is expected to witness substantial growth opportunities owing to the increasing demand for bio-based materials in various industries such as personal care, pharmaceuticals, and food & beverage.The major factors driving revenue growth of the Palm Methyl Ester Derivatives market include the increasing demand for biodiesel and other biofuels, coupled with the rising concerns around the environmental impact of fossil fuels.

The Asia Pacific region is expected to dominate the Palm Methyl Ester Derivatives market, accounting for over 70% of the market share. This is owing to the growing demand for biodiesel in countries such as China, Indonesia, and India, which are major producers of palm oil. Other regions such as Europe and North America are also anticipated to witness significant growth in this market due to increasing government initiatives and regulations promoting the use of biofuels. The market share percentage valuation for Europe is expected to be around 15%, while North America is expected to account for approximately 10% of the market share for Palm Methyl Ester Derivatives.

The market for Palm Methyl Ester Derivatives is highly competitive due to the presence of several players operating at an international level. Some of the key players in the market include Wilmar, Procter＆Gamble Company, Carotino Group, KLK OLEO, Musim Mas Group, Timur OleoChemicals, CREMER, Emery Oleochemicals Group, Jingu Group, Vantage, and PMC Biogenix. These companies use Palm Methyl Ester Derivatives in various products, including biodiesel, lubricants, surfactants, and personal care products.

Sales revenue figures of some of these companies include Wilmar, which reported a revenue of $46.7 billion in 2020, and Procter & Gamble, which reported a revenue of $71 billion in 2020. Carotino Group reported a revenue of $500 million in 2019, while KLK OLEO reported a revenue of $1.56 billion in 2020. Emery Oleochemicals Group reported a revenue of $785 million in 2020.

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The Paint-Coated Steel Strapping Market is expected to grow from USD 484.30 Million in 2022 to USD 645.90 Million by 2030, at a CAGR of 4.20% during the forecast period.The paint-coated steel strapping market is a niche market within the larger strapping industry, with a growing number of players entering the market due to the increased demand for high-quality and durable products. The target market for paint-coated steel strapping includes industries such as construction, automotive, and packaging.One of the major factors driving revenue growth in the paint-coated steel strapping market is the increasing demand for high-strength and corrosion-resistant strapping solutions. Paint-coated steel strapping offers a number of benefits over traditional strapping materials, such as increased durability and rust-resistance, which make it ideal for use in harsh industrial environments.

The paint-coated steel strapping market is witnessing significant growth in North America, mainly due to the rising demand for packaged goods and the growth of the construction industry. In the Asia-Pacific region, the market is expected to expand rapidly due to the presence of several developing countries and the increasing demand for industrial activities. Europe is also witnessing considerable growth due to the high demand for steel strapping in the packaging industry. The USA is experiencing steady growth in the market due to the growth of the logistics and transportation sector. China, on the other hand, is the largest consumer and producer of steel strapping, with a rapidly growing industrial sector and increasing urbanization.

The global Paint-Coated Steel Strapping market is highly competitive, with many players operating in the marketplace. Key players include Signode, Samuel Strapping, Baowu Steel, Specta, Anshan Falan, Tata Steel, M.J.Maillis Group, Kohan Kogyo, Jiangsu Juhong, TITAN Umreifungstechnik, Qinhuangdao Jiashilun, Qinghuangdao Tongye, Sam Hwan Vina, Polychem, Linder, Ensho Steel Strapping, and Walzen Strips.

These companies are helping the Paint-Coated Steel Strapping Market to grow by increasing their product portfolio, expanding into new markets, and investing in research and development.
For instance, Signode, a global leader in the packaging industry, offers a wide range of paint-coated steel strapping solutions. Signode’s products are used in various applications, including construction, logistics, and manufacturing. The company reported sales revenue of $6.4 billion in 2020.
Another major player in the Paint-Coated Steel Strapping market is Tata Steel. The company offers a range of premium quality steel strapping solutions, including paint-coated steel strapping. Tata Steel reported sales revenue of $24.5 billion in the financial year 2021.
M.J.Maillis Group is another key player in the Paint-Coated Steel Strapping market. The company specializes in providing packaging solutions to various industries, including steel, paper, and chemicals. M.J.Maillis Group reported sales revenue of €610 million in 2020.

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Mohit Patil
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