The global market for selenium sulfide is extremely consolidated in
nature and the top four companies accounted for nearly 60% of the
total market in 2015. Transparency Market Research has found that
these players, namely Abcr GmbH, Alfa Aesar, Wockhardt, and Fagron,
are focusing on the Middle East and Africa region as well as Asia
Pacific as an investment opportunity to expand their footprint and
increase their share in the global selenium sulphide market. Mergers
and acquisitions also form a successful growth strategy, as
identified by TMR. A case in point would be Fagron. Based in the
Netherlands, the company acquired US-based Anazao Health in May 2015
to strengthen its position in the U.S. market through a large
customer base and an improved supply-chain network.
The revenue generated by the global selenium sulfide market stood at
US$27.5 mn in 2015 and is anticipated to reach US$35.6 mn by 2024,
registering a 2.9% CAGR therein. The demand for selenium sulfide is
estimated to rise at a modest 2.2% CAGR from 2016 to 2024.
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Growing
Demand for Personal Care Products in Emerging Economies to Spur
Demand for Selenium Sulfide
Based on product type, selenium sulfide with a 99.0% purity held the
leading share in the global market in 2015, accounting for more than
70% that year. The segment dominates the market by demand as well as
revenue. However, in terms of revenue, selenium sulfide with a 99.99%
purity level is projected to register a CAGR of 15.4% from 2016 to
2024, higher than that of selenium sulfide 99.0%.
By application, the selenium sulfide market is characterized by the
near-complete dominance of the personal care industry. The veterinary
medicines segment is forecast to witness slow growth from 2016 to
2024 owing to the lack of awareness in emerging economies. Asia
Pacific leads the global selenium sulfide market, accounting for an
estimated share of just over 57% in 2016. Asia Pacific is also
projected to witness significant growth by value and volume
throughout the forecast period.
Carcinogenic
Properties of Selenium Sulfide Present Cause for Concern
The growing demand for specialized hair care products, especially in
developing economies, is a key factor driving the global selenium
sulfide market. “For instance, consumers in countries such as
Brazil, Mexico, Argentina, Thailand, Malaysia, the Philippines,
India, and China have been opting for hydrating and anti-dandruff
shampoos,” the TMR analyst finds.
The demand for specialized hair care products and various grooming
and personal care products is driven primarily by the rising
disposable incomes of consumers in these countries. “The surge in
income has had a significant impact on their lifestyle, which bores
well for the cosmetics and personal care industry,” the author
states. This, in turn, propels the selenium sulfide market across the
globe.
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In contrast, the carcinogenic properties of selenium sulfide have
compelled several governments to impose strict regulations for their
use in personal care products. This acts as a major deterrent to the
growth of the selenium sulfide market.
This review is based on the findings of a TMR report titled “Selenium
Sulfide Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024.”
Selenium
Sulfide Market – Product Analysis
- Selenium sulfide 99.0%
- Selenium sulfide 99.99%
Selenium
Sulfide Market – Application Analysis
Personal
care
- Shampoos
- Lotions
Veterinary
medicine
- Eczema
- Dermatomycoses
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