H1 2023: In H1 2023, the Asia Pacific region emerged as the largest consumer of Polysorbate. In H12023, in the Asia-Pacific market, Polysorbate experienced a hazy scenario in price dynamics as the cost of feedstock, including sorbitol and fatty acids decreased. Polysorbate demand dwindled as end-user manufacturers consumed less of Polysorbate. The pharmaceutical sector witnessed a decline in demand. While operating units in the Chinese market resumed activities post the Lunar holiday, the overall market remained subdued due to ample feedstock availability in the till February. Operational rates in the Asian markets maintained a slower pace due to reduced demand from end-use sectors such as cosmetics, frozen food, and personal care. Import prices remained low, influenced by reduced freight charges. Moreover, the tight production network within India had a discernible impact on overall market dynamics. In North America, The Polysorbate market exhibited varied price dynamics, influenced by the fluctuating demand outlook from the pharmaceutical sectors. During the initial half of the Q12023, prices experienced a decline due to subdued demand and lower productivity in the US The price fluctuations in Polysorbate were closely tied to the changes in feedstock (sorbitol) prices. April onwards, Polysorbate prices experienced a decrease due to a sluggish demand outlook and reduced production costs. Despite continuous demand from the frozen food sector, feedstock (sorbitol) prices sharply declined till June/The US polysorbate market faced subdued market dynamics, driven by decreased demand from downstream industries. This led to an abundance of stock, compelling suppliers to lower prices. Economic instability in the US and heightened global inflation also contributed to the reduced demand, influencing overall commodity prices.
The global Polysorbate market stood at approximately 70 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 5.40% during the forecast period until 2032.
Polysorbate, a versatile class of emulsifiers is integral to diverse industries. Upstream components such as fatty acids and sorbitol are required to make polysorbate. Pharmaceuticals, soaps, cosmetics, and food items all use polysorbates as emulsifying agents. Upstream components such as fatty acids and sorbitol are required to make polysorbate. In the food sector, polysorbates serve as essential emulsifiers, enhancing stability and texture in products like ice cream and salad dressings. Pharmaceutical sector benefit from polysorbates as solubilizing agents, improving drug bioavailability in oral and injectable medications. The cosmetics and personal care industry utilizes polysorbates to disperse oils in water-based formulations, contributing to the effectiveness of lotions and creams. Moreover, polysorbates play a crucial role in stabilizing formulations in the manufacturing of medical products, including vaccines. Their industrial applications extend to processes in paints and coatings, acting as emulsifying agents and stabilizers. Even in the textile industry, polysorbates find application in the preparation of textile auxiliaries. This widespread adoption underscores the indispensable role of polysorbates across sectors, enhancing product quality, stability, and performance in various formulations, showcasing their significance in modern business operations.
The Pharmaceutical industry relies on polysorbates as vital solubilizing agents for oral and injectable medications, sustaining demand through continuous advancements. The market's need for polysorbates is propelled by their crucial function as solubilizing agents within the pharmaceutical sector, improving the solubility and bioavailability of both oral and injectable medications. In the Food and Beverage sector, the rising need for enhanced texture and stability propels the demand for polysorbates, serving as emulsifiers and stabilizers in consumables. The expanding Cosmetics and Personal Care market, fueled by consumer preferences for effective products, drives the adoption of polysorbates for improving oil dispersion in water-based formulations. The market is experiencing growth primarily due to the rising uptake of polysorbate by the beauty and personal care industries. The heightened consumer awareness regarding the importance of skincare has led to an increased demand for skincare products, contributing to the overall expansion of this market. In Medical Product Manufacturing, especially vaccine production, polysorbates play a pivotal role in stabilizing formulations, aligning with global healthcare and vaccination initiatives. Industrial processes, notably in paints and coatings, witness increased demand for polysorbates as emulsifying agents and stabilizers, paralleling industrial growth. The Textile Industry benefits from polysorbates in various processes, highlighting their versatile applications across sectors, consolidating their role as essential components in multiple industries. The global Polysorbate market is anticipated to reach nearly 120 thousand tonnes by 2032.
Based on region, Asia Pacific region serves as the biggest consumer of Polysorbate. In the future, the rapid expansion of China's food packaging industry is expected to compel polysorbate manufacturers to enhance their production capacities, potentially serving as a key growth driver for the polysorbate market. Additionally, the personal hygiene and beauty sector in India is anticipated to experience notable growth, driven by an increasing population of newborns and a growing awareness of self-beauty and grooming practices. Polysorbate is expected to be extensively utilized in the future production of various cosmetic formulations, including skin fresheners, skincare products, cleansing products, makeup bases and foundations, shampoos, among others, contributing to the sector's expansion.
Based on the end-user industry, the global Polysorbate market is divided into Pharmaceuticals, Food & Beverages, Cosmetics and Personal Care, and Others. However, Pharmaceuticals is the major segment and held approximately 32% of the global Polysorbate market in 2022. Polysorbate works as a solubilizing agent in IV formulations of the antiarrhythmic drug amiodarone.
Major players in the Global Polysorbate market are BASF SE, Mohini Organics Pvt. Ltd., N.S. Chemicals, ESCA Chemicals, Tjn Chemical industry, Croda Industrial Chemicals, Spectrum Chemical Manufacturing Company, Guanhzhou Runhua Chemistry co. ltd., Sisco research, and NOF Europe GmbH (NOF Group).
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Polysorbate which covers production, demand and supply of Polysorbate market in the globe.
• To analyse and forecast the market size of Polysorbate
• To classify and forecast Global Polysorbate market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polysorbate market in the globe.
To extract data for Global Polysorbate market, primary research surveys were conducted with Polysorbate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Polysorbate market over the coming years.
ChemAnalyst calculated Polysorbate demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Polysorbate. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polysorbate manufacturers and other stakeholders
• Organizations, forums and alliances related to Polysorbate distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polysorbate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Polysorbate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
70 thousand tonnes
Market size Volume in 2032
120 thousand tonnes
Growth Rate
CAGR of 5.40% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Pharmaceuticals, Food & Beverages, Cosmetics and Personal Care, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of Polysorbate in terms of volume in 2022?
Ans:
The global market size of Polysorbate had reached approximately 70 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Polysorbate?
Ans:
Asia Pacific region is the leading consumer of Polysorbate globally.
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