Isohexadecane is a long-chain saturated hydrocarbon that is derived from petroleum and is commonly used as an emollient in cosmetic products. It serves as an excellent skin-conditioning agent due to its non-greasy and non-comedogenic properties. Isohexadecane provides a silky feel to the skin and helps other ingredients such as coloring agents and fragrances to spread evenly. The global market for Isohexadecane has witnessed significant growth in recent years due to the rising demand for portable consumer electronic devices that require power sources.
Isohexadecane plays a vital role as a component in power banks and portable battery packs that are used to charge smartphones, tablets, wearables and other hand-held gadgets on the move. Its non-flammability and low electrical conductivity make Isohexadecane ideal for encapsulating lithium-ion batteries safely.
The global Isohexadecane Market is estimated to be valued at US$ 201.14 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: One of the primary trends spurring the demand for Isohexadecane is the growing popularity of miniaturized portable consumer electronic devices with longer battery lives. Manufacturers are focusing on developing slimmer and more compact power packs incorporated with high-density lithium-ion battery cells. Isohexadecane plays a crucial role as an encapsulating agent that helps house these advanced battery chemistries safely while protecting them from moisture, dust, vibration and shock. Another important trend is the rising sales of cordless power tools for both household and industrial applications. Isohexadecane-based batteries are increasingly being utilized in tools, gardening equipment, vacuum cleaners and other power-operated appliances to provide mobility.
Threat of new entrants: The threat of new entrants in the isohexadecane market is moderate as it requires high R&D investment and manufacturing facilities to produce isohexadecane. Bargaining power of buyers: The bargaining power of buyers is moderate as isohexadecane has several substitutes like isoparaffins readily available in the market. Bargaining power of suppliers: The bargaining power of suppliers is high as raw materials needed for isohexadecane production are finite in nature and controlled by few major players globally. Threat of new substitutes: The threat of new substitutes is moderate as isohexadecane has close substitutes like isoparaffins used for similar applications. Competitive rivalry: The competitive rivalry in the isohexadecane market is high due to presence of large number of players competing on the basis of product quality and pricing.
Global Isohexadecane Market Size is expected to witness high growth.
Regional analysis: Asia Pacific is expected to be the fastest growing market for isohexadecane during the forecast period owing to increasing industrial activities and rapid economic development in major countries like China and India. North America is also projected to be a prominent region on account of robust demand from personal care sector.
Key players operating in the isohexadecane market are Anker, Duracell, EcoFlow, Goal Zero, Jackery, MAXOAK, NEXPON, Omnicharge, ORYTO, OUTXE, Pisen, RavPower, Rockpals, Samsung, Suaoki, X-DRAGON, Zendure, RIVER, Crave, Intova.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it