UV Filter Market
UV Filter Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030
Analysis of UV Filter market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
UV Filter Market: About the Report
The report by Fact.MR explains the various reasons why the global UV filter market is set to expand twofold over the next decade. While organic filters dominate the demand scenario, inorganic filters are fast becoming the first choice for manufacturers across regions.
UV filters find widespread use in the formulation of creams and gels as compared to wipes and sprays. There is discussion in this study about North America having captured a leading share in the global market, but the UV filter market holds more potential in regions such as East Asia and South Asia & Oceania.
Don't Need a Global Report?
save 40%! on Country & Region specific reports
Global UV Filter Market Overview
The global UV filter market has observed rapid growth at a CAGR of 6.2% over the past half-decade. However, the market has seen a major decline in the 2nd and 3rd quarters of 2020 owing to contraction in demand for personal care and cosmetic products, which has significantly cascaded the effect positively for the expansion of the UV filter market size.
By the end of the 1st quarter of FY2020, huge speculative demand for UV filters was observed by personal care product manufacturers in East Asia, which spiked prices, which ultimately contracted to a near low in the mid-2nd quarter of FY2020.
On the macroeconomic perspective, reduction in need for grooming and personal care products during lockdowns has had a domino effect, resulting in higher positive network externalities across industries.
As markets reopened by the end of the 3rd quarter of FY2020, the UV filter market too rebounded at a fast pace. All in all, rapid rebound of the UV filter market portrays large potential for the long-term forecast period.
UV Filter Market Insights by Type
UV filters are channeled as two distinct types, i.e., organic and inorganic, via various personal care and chemical distributor across regions. Trade channels provide a clear image of higher organic UV filter consumption in the personal care products market.
Under organic, dibenzoyl derivatives capture a majority of the UV filter market share, owing to manufacturers’ inclination towards filters to produce a wide range of personal care and cosmetic products.
Personal care product manufacturers’ choice of UV filters is totally dependent on pricing and product penetration in the market. Moreover, choice of UV filters is also dependent on regional policies and regulations regarding skin care. For instance, key organic types of UV filters, which come under the matrix of manufacturer production feasibility and regional regulations, are polysilicone-15, pibenzoyl derivatives, and benzophenones.
The formerly mentioned UV filters capture near 60% of demand in the global UV filter market. All in all, organic types are set to maintain their dominance over the long-term forecast period, owing to their price, manufacturers’ feasibility, and regional regulations. The organic type segment is set to swell 1.9X over the same period of time.
UV Filter Market Insights by Formulation
UV filters are significantly consumed in creams, and this segment captures over half of global UV filter demand. Followed by creams, gels capture over one-fifth of global demand in the UV filter market. Amount of consumption could be evaluated solely on the basis of the type of personal care product being formulated.
Therefore, wipes and sprays have lower UV filter formulation as compared to other formulations in the market. The market is set to rise on the back of cream formulations in over the medium- and long-term forecast period
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
Regional Outlook of UV Filter Market
The North America UV filter market has captured a lion’s share, and is set to maintain its dominance right to the end of the forecast period. North America’s dominance in the market over Europe is due to fewer regulations in the personal care chemicals market.
Followed by North America, Europe captures near 25% of the global UV filter market share, is set to be propelled over the mid-term forecast period owing to the region’s opening of doors to inorganic filters. In long run, East Asia is assessed to have a higher market potential, owing to rapidly changing personal care product manufacturing profiles in the region.
UV Filter Market Manufacturers: Key Strategies
The global UV filter market is fragmented in nature. BASF, Ashland, DSM, Lonza, Solvay, Dow, and Croda are the few key market players in the top tier accounting for over 40% of the global supply of UV filters.
Players have adopted organic strategies in prominent growth regions. For instance, in FY2019, UV Filter leader, BASF, announced the expansion and debottlenecking at its production sites in Grenzach and Ludwigshafen.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
The Analyst’s Viewpoint
Rapid rebound of the personal care products segment post COVID-19-related lockdowns is set to benefit the UV filter market in the short-run.
COVID-19 Impact on UV Filter Market
The personal care industry has suffered in the 2nd and 3rd quarters of FY2020, owing to demand contraction across regions due to the COVID-19 pandemic. Demand contraction was mainly due to reduction in need for grooming coupled with consumer nature of saving on spending, which has shrunk the overall UV filter market. However, in the 4th quarter, the UV filter market has resurrected from a massive decline, and is set to experience normal growth over the coming time period.
- FAQs -
BASF, Ashland, DSM, Lonza, Solvay, Dow, and Croda are the prominent manufacturers of UV Filter Market
UV Filter Market Is Anticipated To Grow At Cagr Of 6% During The Forecast Period By 2030