Chemical industry reports 2024 Allantoin Industry Outlook and Forecasts | Page 2

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Geographically, the APAC allantoin market dominated the global market due to growing demands from
industries such as pharmaceutical, oral care, cosmetics, etc. The regional market is expected to generate
revenue of over USD 220 million by 2024. North American market for allantoin accounted for a considerable
amount of global demand due to high usage levels in the pharma and personal care industries. However, the
region is said to experience a slow growth during the estimated years because of the slower industrial growth.
The European market is also likely to witness a slow growth rate. The Middle East & Africa and La tin America
regions are expected to be high-growth regional markets. The cosmetics industry growth in these regions along
with the improved spending capacity is likely to augment the product demand.
The major companies in this market are Ashland Inc.; Rita Corp.; and Lubon Industry Co. Ltd.
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