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ASEAN Cosmetic Chemicals Market Snapshot (2022 – 2032)

[250 Pages Report] The ASEAN Cosmetic Chemicals market share is projected to reach US$ 3226.5 Mn in 2032. The growing beauty products market has been increasing the demand for value-enriched cosmetics.

According to FMI, the ASEAN Cosmetic Chemicals market is estimated to be valued at US$ 1768.0 Mn in 2022 and is projected to increase at a CAGR of 6.2% in the forecast period from 2022 to 2032.

Market Size (2021)

US$ 1,664.8 Mn

Market Size 2022

US$ 1,768.0 Mn

Market Size 2032

US$ 3,226.5 Mn

Value CAGR (2022-2032)


The market is flooded with various cosmetic chemicals. Cosmetic chemicals are the basic ingredients found in cosmetic products including soap, shampoo, lipstick, mascara, deodorants and other beauty products (excluding the products listed under therapeutic goods).

At present, various cosmetic business enterprises use more than 5000 different chemical compositions to offer selected cosmetic products. Based on its end use applications, cosmetic chemical has been further divided into surfactants, emollients, conditioning polymers, and UV absorbers.

These chemical-based products contain preservatives which hinder microbial growth and thereby offer longer shell life to the cosmetics. In addition, these chemicals contain a variety of vitamins, antioxidants, minerals, herbs, hormones, and fragrances. This vast range of cosmetic chemicals allows business cosmetics to deliver different types of cosmetics in the market, thereby offering a vibrant market to cosmetic industries.

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Historic Market Outlook for ASEAN Cosmetic Chemicals

The analysis of cosmetic chemical demand from 2017 to 2021 showed a historical growth rate of less than 6% CAGR, with general expansion of the cosmetics & personal care industry driving growth as consumers increased spending amid rising disposable incomes.

Initial recessionary downturns brought on by the COVID-19 pandemic in the form of lower cosmetic sales, store closures, and manufacturing cycle interruptions momentarily halted growth hopes.

However, since infection curves have flattened from 2022, industrial production activity in important markets have restarted. As a result, FMI’s ASEAN cosmetic chemicals demand projection predicts a CAGR of 6.2% by 2032.

What are the Various Factors Driving the ASEAN Cosmetic Chemicals Market?

Their use is widely found in personal care products. A wide range of applications ranging from anti-ageing cream to shampoo is driving the cosmetic chemical market to its zenith. Companies these days are focusing on organic grade cosmetic chemicals as they are considered to be a healthier option when compared to commodity surfactants and petroleum oils.

Growing demand from ethnic groups for beauty products that are tailored to their needs is one of the major driving factors in the cosmetic industry. Furthermore, rising purchasing power, as well as increased awareness and demand for personal care products among aging baby boomers, are expected to drive demand for cosmetic chemicals.

However, rising demand for natural ingredients may stymie the ASEAN cosmetic chemicals market's growth trajectory. Furthermore, major corporations must adhere to industry standards and regulations.

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Which Factors May Hinder the ASEAN Cosmetic Chemicals Market Growth?

Stringent government regulations prohibiting the use of toxic chemicals, combined with an increase in demand for organic products made from natural ingredients, are limiting the ASEAN cosmetic chemicals market's growth.

Many countries only authorize the sale of items that have been deemed safe for use. This permission frequently takes a long period, restricting expansion opportunities.

Furthermore, some cosmetic chemicals may cause genetic mutation, birth defects or reproductive harm, genetic mutation, and cancer, all of which are likely to limit the market growth. An increase in R&D activities by market players with the goal of developing advanced and diverse product portfolios is likely to provide new opportunities for the ASEAN cosmetic chemicals market's growth.

What is Regional Analysis of ASEAN Cosmetic Chemicals Market Share?

Geographically, the market is sub-segmented into six countries namely Thailand, Malaysia, Indonesia, Singapore, Philippines and Vietnam. Indonesia, and Thailand are the largest consumers of cosmetic chemicals in the ASEAN region. Among all these countries Thailand and Indonesia, collectively accounted for 52.6% of the total cosmetics chemicals market in 2021.

However, Singapore is expected to register highest CAGR followed by Malaysia. The growth in Singapore is supported by rise in disposable income and awareness among the consumers through various promotional techniques. With the rising dominance of non-western beauty culture in Eastern region, the market share is set to shift towards ASEAN region.

Ethnic and cultural diversity in APAC, and particularly in ASEAN region, are driving the cosmetics market vertically upwards. Growing consumer class in ASEAN region from 67 million population to 125 million population by 2025 will offer a lucrative market for various business cosmetic business channels. A large consumer base, ample natural resources, availability of cheap labor and easing of policies such as FDI by government, are the main driving factors for the cosmetic chemicals market in ASEAN markets.

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Market Competition

Key players operating in the ASEAN Cosmetic Chemicals market include Akzo Nobel NV, Ashland Global Holdings Inc., BASF SE, Dow Inc., Eastman Chemical Company, Evonik Industries AG, Givaudan SA, International Flavors & Fragrances Inc., LANXESS AG, Lonza Group Limited, P&G Chemicals, Solvay SA, The Lubrizol Corporation, and Berkshire Hathaway Inc.

The ASEAN Cosmetic Chemicals market is highly consolidated, with a limited number of large-scale vendors having the lion's share. The majority of companies in Cosmetic Chemicals market invest a large amount of money in detailed research and development, mostly to create new and improved products. The primary strategies taken by the key players in the Cosmetic Chemicals market are product expansion and mergers and acquisitions.

They also engage in mergers and acquisitions and collaborations while obtaining regulatory permissions.

  • Dow Inc. unveiled its new Virtual Experience Center (VEC) in April 2021, an immersive 3D platform that allows beauty companies to increase their offers by allowing visitors to explore significant advancements and marketing trends.
  • BASF SE's Care Creations will offer Neutrol MGDA, a highly stable and environmentally friendly complexing agent, for personal care applications in November 2020. It is biodegradable and has an excellent ecological and toxicological profile.

Scope of the Report



Growth Rate

CAGR of 6.2% from 2022 to 2032

Base Year for Estimation


Historical Data


Forecast Period


Quantitative Units

Revenue in USD Million, Volume in Tons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Product Type
  • Application
  • Region

Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa

Key Countries Covered

  • US
  • Canada
  • Mexico
  • Brazil
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • India
  • GCC Countries
  • Australia

Key Companies Profiled

  • Akzo Nobel NV
  • Ashland Global Holdings Inc.
  • Dow Inc.
  • Eastman Chemical Company
  • Evonik Industries AG
  • Firmenich SA
  • Givaudan SA
  • International Flavors & Fragrances Inc.
  • Lonza Group Limited
  • P&G Chemicals
  • Solvay SA
  • The Lubrizol Corporation
  • Berkshire Hathaway Inc.

Customization & Pricing

Available upon Request

Key Segments Profiled in the Cosmetic Chemicals Market Report Cosmetic Chemicals Market

By Product Type, Cosmetic Chemicals Market is segmented as:

  • Emollients & Film Formers
  • Surfactants
  • Additives
  • Colorants
  • Thickening Agents
  • Polymer Ingredients
  • Preservatives

By Application, Cosmetic Chemicals Market is segmented as:

  • Skin Care
  • Hair Care
  • Make-up
  • Oral Care
  • Perfumes & Fragrances
  • Others

By Region, Cosmetic Chemicals Market is segmented as:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

Frequently Asked Questions

What was the value of the Cosmetic Chemicals market in 2021?

In 2021, the value of the ASEAN Cosmetic Chemicals market reached over US$ 1,664.8 Mn.

At what rate is the ASEAN Cosmetic Chemicals market projected to expand during the forecast period?

During the forecast period, the ASEAN Cosmetic Chemicals market is estimated to expand at a CAGR of 6.2% during 2022-2032.

By 2032, what will the value of the ASEAN Cosmetic Chemicals market?

The ASEAN Cosmetic Chemicals market is projected to reach US$ 3,226.5 Mn by the end of 2032.

Which region/country is set to lead the ASEAN Cosmetic Chemicals market?

Indonesia is projected to lead the ASEAN Cosmetic Chemicals market in the forecast period.

Which are the top players in the ASEAN Cosmetic Chemicals market?

The key players operating in the ASEAN Cosmetic Chemicals market are Akzo Nobel NV, Ashland Global Holdings Inc., BASF SE, Dow Inc., and Eastman Chemical Company.


Chemicals & Materials

Personal Care Ingredients Market

Published : July 2023

Chemicals & Materials

Cosmetic Chemicals Market

Published : June 2022

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ASEAN Cosmetic Chemicals Market

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