Astute Analytica reports that the global United States Color Cosmetics Market size will grow from US$ 10,823.0 Mn in 2021 to US$ 15,477.5 Mn by 2030. The global market will record a tremendous compound annual growth rate (CAGR) of 4.2% during the study period, i.e., 2022-2030.
The report’s segmentation section focuses on each category while also identifying those with the greatest influence on the United States Color Cosmetics Market. The segmentation provided the framework for locating businesses and assessing their financial health, product portfolios, and potential for future growth. In order to forecast the level of competition, the second step involved analyzing the core competencies and market shares of leading companies. To determine the size of the market as a whole, a bottom-up approach was adopted.
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According to a 2019 estimate from the International Council of Chemical Associations, the chemicals industry is one of the largest in the world, contributing US$ 5.7 trillion to global GDP and supporting nearly 120 million employments. In order to reduce the negative environmental impact of chemical manufacture, chemical industries are progressively embracing sustainable and eco-friendly procedures. Chemical companies are using an eco-friendly alternative such as using carbon dioxide from the atmosphere to make fuels, industrial products, and other chemicals. Technological advancements and the development of chemical sciences are playing a major role in this transition in the industry.
Impact Analysis of COVID-19
Almost every product people use has chemicals. Chemical businesses are functioning in a radically different paradigm as the effects of COVID-19 ripple over the globe and economic activity grinds to a standstill. There is a chasm in the demand for chemicals across end markets. The global supply networks disrupted, chemical companies’ stock prices have taken major hits, and chemical manufacturer competitive orders have switched swiftly in the United States, the Middle East, China, and Europe.
As economies reopen and countries are lifting limitations, the US chemical industry is forecast for a significant recovery in 2022, which could boost plant utilization rates that were affected hard by the pandemic. In the United States, industrial production is forecast to increase by 5.5 percent in 2021 and 4.3 percent in 2022. Chemical volumes in the United States are forecast to rise 1.5 % in 2021 and 3.0% in 2022, while shipments to rise 8.0 % in 2021 and 2022, following a 13.5% drop in 2020.
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The United States Color Cosmetics Market is segmented based on color additive, application, and distribution channel. The industry trends in the color cosmetics market are sub-divided into different categories in order to get a holistic view of the United States marketplace.
the United States marketplace.
Following are the different segments of the United States Color Cosmetics Market:
By Color Additive segment of the United States Color Cosmetics Market is sub-segmented into:
- Synthetic Dyes
- Mineral Compounds
By Application segment of the United States Color Cosmetics Market is sub-segmented into:
- Eyes Make-up
- Face Make-up
- Lips Products
- Nails Products
- Hair Color Products
By Distribution Channel segment of the United States Color Cosmetics Market is sub-segmented into:
- Brand Website
- Specialty Stores
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The Asia Pacific region size value was 36.0% market share, maintaining the largest market share across all regions. As a result of the existence of critical developing economies such as China, India, and Japan in this region, recording the largest market share in the market. Paints and coatings, water treatment, personal care ingredients and cosmetics, electronics, agriculture, and other sectors employ chemicals throughout the Asia-Pacific area. For foreign investors, these places provide excellent investment options. China was the largest specialty United States Color Cosmetics Market in Asia in 2019, accounting for about 38.9% of the global market. India came in second with a 23.1% share of the total market.
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