U.S. Iodopropynyl Butylcarbamate Market to climb to a valuation of US$ 78,742.8 Th by the end of 2032: Persistence Market Research
NEW YORK, April 5, 2022 /PRNewswire/ -- The U.S. iodopropynyl butylcarbamate market is projected to expand at 5.4% CAGR and reach a valuation of US$ 78,742.8 Th by 2032. Significant growth in end-use industries such as personal care & cosmetics and paints & coatings uplifted the consumption of iodopropynyl butylcarbamate (IPBC) in the country over the years.
In recent times, the cosmetics industry has been widely utilizing IPBC as a fungicide and biocide to prevent unwanted fungi and bacteria in cosmetic formulations. IPBC is also added in polymer packaging formulations while manufacturing to enhance food grade polymer packaging solutions.
Rising awareness of consumers in context to antifungal paint has opened a path for paint and coating manufacturers to utilize IPBC on a large scale. The ability of IPBC to be effective at low concentrations had gained attention, whereas, changing lifestyle of consumers with preference toward antifungal personal care products such as wipes is expected to bolster consumption further.
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Key Takeaways from Market Study
- U.S. demand for iodopropynyl butylcarbamate is forecasted to reach a value of US$ 78,742.8 Th by the end of 2032.
- Southeast U.S. is anticipated to remain one of the key markets in the country accounting for around 28.7% market share in 2022.
- By end-use industry, personal care & cosmetics is anticipated to witness a CAGR of 5.4% over the decade.
- The cosmetic ingredients segment is anticipated to remain a key end user, and the sector is anticipated to account for more than 9.4% market share in 2022.
"Extraordinary growth in end-use industries such as personal care and cosmetics is anticipated to drive demand for iodopropynyl butylcarbamate across the U.S.," says a Persistence Market Research analyst.
Competitive Landscape
The U.S iodopropynyl butylcarbamate market is a fairly consolidated space. Some of the key market players included in the report are Fengchen Group Company Limited, Lonza, Troy Corporation, Vortex Products Limited, Thor Personal Care, and others. Key market participants are expected to maintain a competitive environment worldwide.
Prominent market players are engaged in the research & development of new and innovative product solutions to meet consumer demand. Key participants are also engaged in developing strategic collaborations for the continuous supply of raw materials.
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Conclusion
In the U.S, personal care & cosmetics industries are prominent markets for iodopropynyl butylcarbamate. Remarkable demand growth of IPBC in end-use industries such as personal care & cosmetics and paints & coatings is due to its role as a fungicide and biocide agent.
However, excess amount of IPBC can lead to health concerns, which has led to the implementation of regulatory standards in certain countries. IPBC has considerable amount of growth opportunity in water treatment as it is an antibacterial agent that kills pathogenic bacteria.
Key players in the IPBC market have initiated various partnerships with other market player to enhance company-specific IPBC blends, and are investing in research & development to further utilize IPBC as a preservative in several product segments.
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More Valuable Insights Available
Persistence Market Research, a research and consulting firm, has published a new market research report on the iodopropynyl butylcarbamate market that contains industry analysis of 2017–2021 and opportunity assessment for 2022–2032.
The report provides in-depth analysis of the market through different segments, namely, application, end-use industry, and U.S regions. The report also provides supply and demand trends along with an overview of the parent market.
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