Albany, New York, December 23, 2016: Market Research Reports Search Engine (MRRSE.com) has added a new research report to its ever-expanding collection of market intelligence on the global industry verticals involved with chemicals and materials. The latest report to be added to this database, titled “Selenium Sulfide Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024 , is an in-depth dissection of its facts, figures, and factors of influence.
According to the report, the global selenium sulfide market is expected to reach US$35.6 bn by the end of 2024, after expanding at a slow and steady CAGR of 2.9% within a forecast period from 2016 to 2024. At the end of 2015, the global selenium sulfide market was valued at US$27.5 bn.
99.99% Purity Selenium Sulfide to Gain Momentum
In terms of purity or product type, the global selenium sulfide market can be segmented into selenium sulfide with 99.00% purity and selenium sulfide with 99.99% purity. Of these, the global selenium sulfide market was dominated by the 99.0% purity segments in 2015, when it had taken up over 70% of the market’s value. The easier rate of manufacture for selenium sulfide with 99.00% purity had allowed it to gain the leading share in terms of both value as well as volume. However, over the coming years, selenium sulfide with 99.99% purity is expected to expand at a phenomenal CAGR of 15.4% from 2016 to 2024, which will be higher than the growth rate shown by its counterpart segment.
In terms of applications, almost all of the global selenium sulfide market was dedicated to the personal care industry so far. This is likely to continue being the case for the foreseeable future. Conversely, the demand for selenium sulfide from the veterinary medicines segments is expected to witness a very sluggish rate of growth in demand till 2024, primarily due to low awareness and a low rate of marketing for the veterinary products that can use selenium sulfide.
Personal Care Industry Continues to Bear Popular Demand for Selenium Sulfide
All emerging economies are expected to play a key role in the growth of the global selenium sulfide market over the coming years. Asia Pacific economies are especially expected to show a very high increase in their demand for selenium sulfide over the coming years. A large portion of the overall demand in the global selenium sulfide market comes from the personal care industry, as the chemical is an essential ingredient in several hair care products. Developed economies are showing a somewhat stagnated demand for personal care products. On the other hand, emerging economies – thanks to their growing disposable incomes and manufacturing industrial evolution – are making waves in terms of boosting their demand for selenium sulfide.
Only a handful of names have dominated the global selenium sulfide market, which is otherwise highly consolidated in nature. Some of the leading players that have held strong positions in the market so far include Abcr GmbH, Alfa Aesar, Wockhardt Ltd., FAGRON, G&W Laboratories, Adisseo, Salvi Chemicals, and Omkar Specialty Chemicals Ltd. A lot of the players still a part of the global selenium sulfide market are currently siphoning their investments into the developing regions in the Middle East and Africa as well as Asia Pacific. They plan to improve their revenue generation through either expanding their manufacturing capabilities in these regions or through partnerships, mergers, and acquisitios.
Browse Full Global Selenium Sulfide Market Report with TOC:http://www.mrrse.com/selenium-sulfide-market
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