Increased Focus on Grooming to Drive Growth in Hair Fixative Polymers Market
Fact.MR notes that the global hair fixative polymers market would grow at a rate of 4% from 2019 to 2027. Green manufacturing is growing at a notable pace and this set to add to the market valuation of hair fixative polymers, taking the worth up to USD 650 million by the end of the stated forecast period. Low capital investments in the market are also set to attract new players, who would face hardly any barriers to entry. This would increase competition in the market, providing momentum to growth.
Additionally, it is worth pointing out here that new investments are pouring in the market in order to tap into the high potential landscape. This is also leading to research and development (R & D), which is set to emerge as a notable growth engine for the market. It is not wrong to say, here, that this is majorly an outcome of search for conditioning polymers-heat styling products, in particular, are seeing an increase in demand, and premium products in these would give leeway to sales.
It is noteworthy here that among all demographics, demand for hair styling is increasing. Some of the reasons that are driving this growth are massive influence of social media and its influencers – who have set a new normal of beauty standards – and increase in disposable incomes . Consumers wanting to look and live premium, in both virtual and real life are particularly into the trends of looking good at all times. And, this is leading to an upward facing demand curve for such products.
Synthetic Polymers to Lay Claim to Massive Market Share over the Forecast Period
In terms of natural and synthetic polymers, it is significant to note that the latter accounts for a sizeable share of the market. However, over the next few years, it is set to lose some of it to the former as people demand for environment friendly products, even after the fact that the synthetic variants are cost-effective and are vastly found in on-the-go hair styling products. The growing trend of natural product use will also add to the growing share of natural hair fixative polymers.
North America to be a Large Market for Hair Fixative Polymers; Asia Pacific to be Fastest Growing Market
High focus on grooming and high purchasing power will ensure that the North American region remains ahead of the curve in terms of share of the global hair fixative polymers market. Presence of strong players in the region will also contribute to this dominance. However, it is quite significant to note here that growing awareness regarding hair health and increasing disposable incomes will make the Asia Pacific (APAC) region demonstrate a high growth rate over the forecast period. Emerging economies such as India will contribute positively to this growth. These are not only doing well on the economic front but also the hot and humid climate calls for impactful solutions to hair problems.
Fragmented Market Landscape to See Increase in Competition over the Forecast Period
The global hair fixative polymers market is a fragmented vendor landscape. Top players include AkzoNobel NV, Ashland, BASF SE, Eastman Chemical Company, Mitsubishi Chemical Holdings Corporation, Croda International Plc, Hallstar, The Dow Chemical Company, Nexeo Solutions, LLC., And Miwon Commercial Co., Ltd. As the market braces itself for growth, new entrants would mark the fray, increasing degree of competition.