Dow Corning, Elevance target personal-care market
09 September 2008 22:21 [Source: ICIS news]
NEW YORK (ICIS news)--Dow Corning and Elevance Renewable Sciences will jointly develop a line of naturally derived ingredients for the personal-care industry, the US companies said on Tuesday.
“We believe this line of performance ingredients will grow rapidly to become a major part of the estimated $2bn-3bn (€1.4bn-2.1bn) natural and organic personal-care market, one of the fastest growing segments in the personal-care industry,” said Stephen Gosney, global beauty care industry director for Dow Corning. Gosney made his comments during the companies’ joint conference call.
The combination of Dow Corning’s silicone technology and Elevance’s natural-based products creates both functional and performance benefits for a wide variety of applications, the companies said.
The firms have already developed two products. Dow Corning HY-3050 Soy Wax is used as a structuring agent, and Dow Corning HY-3051 Soy Wax Blend serves as an alternative to petrolatum.
The two products are currently used in skin care, colour cosmetics, hair care and underarm products, the companies said.
Elevance uses plant-based oils to produce specialty chemicals.
“The resulting products outperform traditional petrochemicals,” said K’Lynne Johnson, CEO of Elevance, on the conference call. “We have the ability to use multiple natural feedstock, which helps to control costs.”
Personal care is one of Elevance’s three main end markets. Others include antimicrobials and lubricants.
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