Global Piroctone Olamine Market: Introduction
· Piroctone olamine is an antifungal agent that contains an ethanolamine salt of the hydroxamic acid derivative piroctone. Piroctone olamine is primarily used in anti-dandruff shampoos as a substitution for the commonly used compound zinc pyrithione.
· Piroctone olamineis used with other materials in shampoos to reduce the dandruff levels. At the same time, it helps in hair conditioning. Furthermore, it helps prevent hair fall, and boosts hair growth.
· Malassezia globosa fungus causes dandruff in hairs and in severe cases, inflammation, redness, seborrheic dermatitis, and extremely itchy patches. Piroctone olamine helps control the spread of the Malassezia globosa fungus.
Key Drivers and Restraints of Global Piroctone Olamine Market
· Increase in demand for piroctone olamine in skin care and hair care products is expected to boost the global piroctone olamine market during the forecast period
· Rise in preference for piroctone olamine over ketoconazole and zinc pyrithione is the primary driver of the piroctone olamine market. In several controlled clinical trials conducted by various researchers, piroctone olamine has been proven to be superior to ketoconazole and zinc pyrithione. A study undertaken by NCBI compared these three ingredients and observed that the usage of piroctone olamine helps reduce the hair fall by 16.5%. According to National Center for Advancing Translational Sciences (NCATS),piroctone olamine could induce apoptosis and lead to a significant in vivo effect against myeloma.
Global Piroctone Olamine Market: Type Segment
· Based on type, the global piroctone olamine market can be bifurcated into purity more than 99% and purity more than 98%. Purity more than 99% segment held the larger share of the market in 2020 and is likely to maintain its dominance during the forecast period.
· 99% pure piroctone olamine is more soluble in water and oil compared to 98% pure piroctone olamine. Therefore, demand for 99% pure piroctone olamine is higher among shampoo and other application manufacturers.
· 99% purity also shows high solubility in 1-10% ethanol in water and other aqueous solutions
Global Piroctone Olamine Market: Application Segment
· Based on application, the global piroctone olamine market can be divided into shampoo & hair care, skin care, nail care, washing products, and make-up.
· Major share of the global piroctone olamine market is held by shampoo & hair care segment due to anti-fungal properties of piroctone olamine
· Prevalence of dandruff has become common among adults. As a result, demand for products that help control dandruff is rising, thus propelling the piroctone olamine market.
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COVID-19 Impact on Global Piroctone Olamine Market
· On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
· Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
· Manufacture of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc.
· The COVID-19 pandemic has negatively affected the piroctone olamine market due to the lockdowns imposed by governments of many countries
Asia Pacific to Hold Leading Share of Global Piroctone Olamine Market
· In terms of region, the piroctone olamine market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
· Asia Pacific is expected to hold major share of the global piroctone olamine market, followed by North America and Europe, during the forecast period
· Asia Pacific dominates the global piroctone olamine market due to the growing population, urbanization, and disposable income of the population. Less stringent norms and standards for the use of raw materials or ingredients for the manufacture of packaging products; and easy availability of cheap labor are encouraging major players to expand their operations in the region.
· The piroctone olamine market in Europe has been expanding due to high demand for skin care, cosmetics, and hair care products in the region. According to Cosmetics Europe, the European trade association for the cosmetics and personal care industry, France was one of the global leaders in exporting cosmetics.
· Saudi Arabia and the UAE are expected to drive the demand for cosmetic products in Middle East & Africa during the forecast period due to increasing demand for cosmetics in these countries. Thus, increasing demand for cosmetic products is boosting the demand for piroctone olamine.