Global Shellac Powder Market Size To Worth USD 1422.4 Million By 2033 | CAGR of 7.26%
Category: Chemicals & MaterialsGlobal Shellac Powder Market Size To Worth USD 1422.4 Million By 2033
According to a research report published by Spherical Insights & Consulting, the Global Shellac Powder Market Size is Expected to Grow from USD 705.8 Million in 2023 to USD 1422.4 Million By 2033, at a CAGR of 7.26% during the Forecast period 2023-2033.
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Browse key industry insights spread across 230 pages with 104 Market data tables and figures & charts from the report on the "Global Shellac Powder Market Size, Share, and COVID-19 Impact Analysis, By Type (Wax Containing Shellac, Bleached Shellac, Dewaxed Shellac, and Others), By Application (Fruit Coating, Cosmetics, Pharmaceuticals, Paints & Varnishes, Textile, Industrial, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/shellac-powder-market
This market niche and business is referred to as the "shellac powder market." It deals with the production, distribution, and application of shellac powder. The lac bug, Laccifer lacca, secretes shellac powder, a finely ground resin that finds application in a range of commercial and industrial contexts. The market for shellac powder includes suppliers, distributors, manufacturers, and final customers. Numerous factors influence it, including as the availability of raw lac from insect farms, demand across various industries, advancements in extraction technology, and limitations imposed by regulations. Consumer desire for natural ingredients, the growing demand for refined coatings in the food and beverage sector, and its use in industrial and pharmaceutical applications are some of the causes driving shellac powder's growth. The market expansion for shellac powder is being driven by the need for environmentally safe raw materials and their uses in the food, pharmaceutical, cosmetic, and industrial sectors. The use of natural and sustainable ingredients is a recent trend in the personal care and cosmetics industries. Thus, shellac powder is rapidly becoming one of the key elements driving the shellac powder market's growth. However, a limited supply of raw materials, high production costs, environmental concerns, and competition from synthetic alternatives are some of the factors restricting the shellac powder market.
The dewaxed shellac segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the type, the shellac powder market is classified into wax containing shellac, bleached shellac, dewaxed shellac, and others. Among these, the dewaxed shellac segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. Due to its extensive use in sectors including food, medicine, and cosmetics, where it provides exceptional clarity and performance, dewaxed shellac is highly favored.
The cosmetics segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the application, the shellac powder market is divided into fruit coating, cosmetics, pharmaceuticals, paints & varnishes, textile, industrial, and others. Among these, the cosmetics segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The primary cause of the cosmetics industry's growth is the growing demand for shellac in nail paints and other nail care products owing to its glossy, natural appearance.
Asia Pacific is estimated to hold the largest share of the shellac powder market over the forecast period.
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Asia Pacific is estimated to hold the largest share of the shellac powder market over the forecast period. The substantial impact of regional dynamics is seen in the fact that more than 51.4% of the world's shellac powder is produced in the Asia Pacific region alone. Compared to Asia-Pacific, its expansion is more constrained because of high manufacturing costs and few local sources.
North America is predicted to have the highest CAGR growth in the shellac powder market over the forecast period. The North American shellac market is affected by the expanding usage of lasers in several industries, including industrial, medical, aerospace, and defense, among others.
Major key players in the shellac powder market include Unilong Industry Co., Ltd., The Mantrose-Haeuser Co., Inc., Agarwal Shellac, Chuxiong DES Shellac Co., Ltd, Creasia Mill Co., Ltd, A.F. Suter & Company Ltd, Gifu Shellac Manufacturing Co., Ltd, D. Manoharlal (Shellac) Pvt. Ltd, Northern Siam Seed Lac Co., Ltd, Jagadamba Lac Factory, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In August 2024, CNDTM is thrilled to launch Dynamic Duality, their autumn 2024 collection, which combines technology and tradition with six new shades and vivid finishes. Both CNDTM SHELLACTM Gel Polish and CNDTM VINYLUXTM Long Wear Polish are available. Dynamic Duality's somber color scheme goes well with the fall season and produces a stunning contrast in countless nail patterns.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the shellac powder market based on the below-mentioned segments:
Global Shellac Powder Market, By Type
- Wax Containing Shellac
- Bleached Shellac
- Dewaxed Shellac
- Others
Global Shellac Powder Market, By Application
- Fruit Coating
- Cosmetics
- Pharmaceuticals
- Paints & Varnishes
- Textile
- Industrial
- Others
Global Shellac Powder Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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