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The saturated portion of emollient ingredient squalene, which is a natural component of human skin sebum (oil). It is a wonderfully moisturizing ingredient as well as being a source of replenishing fatty acids and antioxidants. 

Note that because it’s highly saturated, squalane is less prone to breaking down in the presence of air than less-saturated squalene. 

References for this information:

The Journal of Clinical and Aesthetic Dermatology, June 2014, pages 25-32
Advances in Food and Nutrition Research, Volume 65, 2012, pages 223-233

See natural moisturizing factor (NMF) squalene

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