Allantoin is a chemical compound, which falls under the specialty chemical category. It is also known as 5-ureidohydantoin or glyoxyldiureide. Basically, it is the diureide of glyoxylic acid and is manufactured by the degradation of purine nucleobase by urate oxidase. Allantoin is formed by the oxidation of uric acid and by the catabolism of purine. It is found in various plants such as comfrey, chamomile, and wheat sprouts. It is a major intermediate in almost all living beings except human and other higher apes. In humans, the pathway to convert uric acid to allantoin is absent. Allantoin can be processed chemically as well as naturally and is safe as a compound. In research, it was observed that the use of allantoin increased the insulin resistance in rats and extended the lifespan of worms. In bacteria, it is used as a secondary source of nitrogen.
Technavio’s analysts forecast the global allantoin market to grow at a CAGR of 5.76% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global allantoin market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Allantoin Market 2017-2021
Technavio recognizes the following companies as the key players in the global allantoin market: Ashland, Clariant, EMD Performance Materials, Lisbon industry, and RITA.
Other Prominent Vendors in the market are: Akema Fine Chemicals, Allan Chemical, AN PharmaTech, BIOSYNTH, Huanghua Suntime Chemical Industry, Luotian Guanghui Chemical, Sunwell chemicals, and Tokyo Chemical Industry.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Use of allantoin in scar treatment and tattoo industry. The growing use of allantoin-based products in scar treatments, as a result of advanced treatment methods and formulations containing allantoin as one the key ingredient, is significantly driving the market growth. Allantoin softens keratin, smoothens the skin, and removes dead skin cells in a short time period.”
According to the report, one of the major drivers for this market is Increasing demand for anti-aging products. One of the main factors for the growth of the anti-aging products market is the aging population of baby boomers. This population segment is an ideal target for the anti-aging products. The world population is growing old, and 8% of it is above the age of 65. The percentage is expected to double by 2030. The North American market is far more mature than other regions such as APAC.
Further, the report states that one of the major factors hindering the growth of this market is Medical complication with oral consumption. Allantoin in comfrey was earlier popular as an oral medicine for treating renal problems. Comfrey is a class of flowering plant that is widely used in herbal medicines and cosmetic products. Comfrey is a rich source of allantoin and is used as very good cell proliferant and is used in skin repair, scar treatment, bone growth, and hair growth. Owing to the remarkable benefits of comfrey, it is widely used in chemical drugs and herbal medicines.
Ashland, Clariant, EMD Performance Materials, Lisbon industry, RITA, Akema Fine Chemicals, Allan Chemical, AN PharmaTech, BIOSYNTH, Huanghua Suntime Chemical Industry, Luotian Guanghui Chemical, Sunwell chemicals, and Tokyo Chemical Industry.