Petrolatum: A Global Strategic Business Report
San Jose, California (PRWEB) March 24, 2010
Petrolatum, soft paraffin or petroleum jelly is a semi-solid hydrocarbon formulation containing more than 25 carbon molecules, promoted originally as topical ointment due to its medicinal properties. Petrolatum is a wax by-product of bright stock, the heaviest variety of lube oil. The product is a natural blend of oil and microcrystalline wax. Petrolatum transforms to mineral jelly on filtering and blending due to its good oil retaining capacity. The product turns to microcrystalline wax on being completely refined. Petrolatum is approved by the US Food and Drug Administration (FDA) as an OTC (over-the-counter) skin protectant, finding wide range of applications in cosmetic skin care sector.
Europe dominates the world petrolatum market as stated by the new market research report on Petrolatum market. However, fastest growth is likely to emanate from Asia-Pacific. The market is expected to overtake Europe and emerge as the largest regional market for petrolatum worldwide. The key selling point of skin care products such as petrolatum seems to be the personal appearance factor. Besides this, innovative product mix, ageing and consumer affluence also play important roles in promoting growth in this industry. Certain other trends witnessed in the market are high spending ratio in developed countries, and introduction of specialized products for special socio economic classes. Other market highlights include growing use of UV filters, shift towards mass market consumer brands, move from prescription to OTC status, and rising popularity of own label products.
However, petrolatum segment is witnessing considerable changes, which are attributed to changes within the petroleum refining industry as well as rising competition from other substitutes such as alternative waxes and non-wax products, for instance plastics. In addition, the petroleum waxes segment witnessed huge losses in its application markets over the last decade particularly in the key sectors of paper, packaging, and candles, due to rise in petroleum prices and environmental concerns that enhanced the competitiveness of substitute products. The environmental factor is also eliminating the use of wax completely across some markets with green products replacing their presence in other segments such as cosmetics, candles, and fire logs. Key players profiled in the report include Anika Laboratories Inc., Grand Brands LLC, HEALDERM HELLAS S.A., Royal Exports, and Unilever.
The report titled "Petrolatum: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, competitive scenario, product overview, and recent industry activity. The study analyzes market data and analytics in terms of value sales for regions including The United States, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World.
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