UV Absorbers Market is anticipated to reach USD 1 billion by 2022
Posted by michael on June 13th, 2019
UV Absorbers Market Size and Growth Rate:
The Size of the UV Absorbers Market was valued at USD 690.3 Million in 2016 and is expected to reach USD 1,005.4 Million by 2022, at a CAGR of 6.5% from 2017 to 2022
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UV Absorbers Market Growth Drivers and Restraints:
With the changing lifestyle and increasing westernization, there is a significant increase in the consumer demand for beauty and personal care products. In addition, there is also an increase in awareness about the harmful effects of UV radiation on the skin. These factors act as important drivers of the UV absorbers market. Moreover, UV absorbers have been gaining widespread reputation among cosmetics and personal care companies due to their strength to defend the skin from numerous detrimental effects, such as wrinkles, skin aging damage of collagen & elastic fibers and most importantly, skin cancer, which can be caused by chronic exposure of the skin to UV radiations.
In extension, several R&D activities are being undertaken for UV absorbers worldwide for improvement and advancements in terms of formulations, characteristics and other parameters that are likely to affect the product quality. The global market is likely to showcase significant growth in the upcoming years owing to its new developments, vital applications, and scope of expansion across various sectors.
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UV Absorbers Market Geographical Segmentation:
Based on the regions, Europe is expected to witness relatively steady growth in the global UV absorbers market during the forecast period due to substantial use in personal care products and coatings. North America is determined to dominate the global market during the forecast period owing to significant use of these absorbers. Asia Pacific is anticipated to witness substantial growth during the forecast period due to strong interest for benzophenone and benzotriazole in adhesives and plastics applications for the automotive industry and raising awareness regarding UV absorbers benefits.
Latin America and the Middle East & Africa are extended to witness considerable growth during the forecast period because of UV rays’ awareness and industrial demand for high-quality and protective products for end-users.
Key Players of the UV Absorbers Market:
Some of the principal participants in the global UV absorbers market identified across the value chain include 3V Sigma SpA; Uniproma; Adeka Corporation; Labeyond Chemicals Co., Ltd.; BASF SE; Croda International PLC; Everlight Chemical Industrial Corp.; Lycus Ltd.; Solvay S.A.; Clariant Chemicals and Songwon is focusing on business expansions through investment in research & development of new ingredients, which in turn is boosting charge for improving UV absorbers.
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About the Authormichael
Joined: April 4th, 2019
Articles Posted: 31
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