Piroctone Olamine Market Size, Trends and Growth Analysis by 2027

The piroctone olamine market was valued at approximately US$ 66,704.53 thousand in 2019 and is anticipated to grow to US$ 92,013.30 thousand by 2027, reflecting a compound annual growth rate (CAGR) of 4.2% from 2020 to 2027.

Piroctone olamine is an antifungal agent derived from an ethanolamine salt of hydroxamic acid. It is commonly utilized in anti-dandruff shampoos as an alternative to zinc pyrithione. When combined with other ingredients in hair care products, piroctone olamine effectively diminishes dandruff levels while also providing conditioning benefits for the hair. The fungus Malassezia globosa is primarily responsible for dandruff and seborrheic dermatitis, leading to scalp irritation and the shedding of small flakes. In more severe instances, symptoms can escalate to inflammation, redness, and intense itching. The antifungal properties of piroctone olamine play a crucial role in managing the proliferation of Malassezia globosa. Additionally, this compound contributes to smoother, silkier hair, reduces hair loss, and promotes hair growth.

The market for piroctone olamine is categorized based on application into several segments: shampoo and hair care products, cosmetics, and washing products. In 2019, the shampoo and hair care products segment dominated the market, holding the largest share. Piroctone olamine works by penetrating the cell membranes of Malassezia globosa, disrupting their energy metabolism and oxygen uptake, which ultimately leads to the elimination of the fungi and alleviates dandruff-related issues that can result in hair thinning and loss. Compared to ketoconazole, a commonly used ingredient in anti-dandruff formulations, piroctone olamine has been shown to deliver superior results in combating dandruff and fungal infections.

Geographically, the global piroctone olamine market is divided into North America, Europe, Asia Pacific (APAC), South America, and Middle East and Africa (MEA). In 2019, the Asia Pacific region accounted for the largest market share. Countries within APAC, including Australia, Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia, boast substantial manufacturing industries that are increasingly adopting innovative technologies and processes. Over recent years, manufacturing expenditures in this region have surged and are expected to continue growing at a rapid pace. This significant advancement in the manufacturing sector creates a demand for advanced solutions, thereby driving the growth of the piroctone olamine market. Furthermore, rising foreign direct investments contribute to economic development in the region. Major markets for piroctone olamine in Asia Pacific include India, Japan, and China, where the demand for cosmetic products is on the rise due to cultural shifts, increased female workforce participation, a growing youth demographic, and the influence of Western culture.

The COVID-19 pandemic, which originated in Wuhan, China, in December 2019, has had a profound impact on global economies and industries. By November 2020, countries such as the US, Brazil, India, Russia, South Africa, Mexico, and the UK were among the hardest hit in terms of confirmed cases and fatalities. The pandemic has disrupted various sectors due to lockdowns, travel restrictions, and business closures. The chemicals and materials industry, in particular, has faced significant challenges, including factory shutdowns and supply chain interruptions, leading to a decline in demand for piroctone olamine.

Key players in the global piroctone olamine market include Spec Chem Industry Inc., Starchem Enterprises Limited, Yantai Aurora Chemical Co., LTD., Zhonglan Industry Co., Ltd., Clariant, KOLON LIFE SCIENCE, Shandong Chuangying Chemical Co., Ltd., Merck KGaA, JSN Chemicals LTD, and Junwee Chemical Co., Ltd..

The overall size of the global piroctone olamine market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants and experts to validate the findings and gain deeper analytical insights. Participants in this research typically include industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants, valuation experts, research analysts, and key opinion leaders specializing in the piroctone olamine market.