Avobenzone Market: Overview and Dynamics
Sun emits energy to Earth in two ways: one is the visible light that we can see, the other is infrared radiation because of which we feel the heat and last are the UV radiations. These UV radiations cannot be seen or felt by us, yet they are harmful to live beings. Most of the radiations do not reach the surface of Earth due to the presence of ozone that protects from the UV rays.
Sunscreens protect the skin from the harmful effects of the sun. Prolonged exposure under the UV rays might cause skin cancer, sunburns, skin reactions and premature ageing. Sunscreens comprise of active ingredients that either absorb sun’s UV radiation or by reflecting the radiation. Chemicals like Avobenzone, aminobenzoic acid, oxybenzone and others are the active chemicals used in the sunscreens.
Avobenzone is a chemical sunscreen agent that prevents direct radiation from sunscreen and protects the skin from UVA and UVB rays. Avobenzone is also oil-soluble which allows its usage in the sunscreen, as it can easily combine with other active ingredients. Ultraviolet rays are responsible for the premature ageing, skin cancer and signs of solar elastosis. Avobenzone has an absorption spectrum of a maximum of 357 nm and absorbs into the skin as soon as it is applied in order to block the UV rays.
Avobenzone is the FDA approved chemical like other chemicals and able to absorb ultraviolet rays over a wider range of wavelengths than many other sunscreen agents. Avobenzone is converted as the formula for the dominant sunscreen agent manufacturing Industries. Due to less number of applications, it is only using in beauty and personal care industry. Avobenzone’s limited uses as a chemical allow it convention in only beauty and personal care, making it vulnerable to more research and development owing to its unknown benefits.
Despite its usage in sunscreens, Avobenzone breaks down in sunlight in 30 minutes because of which the manufacturers have to add stabilizing chemicals like octocrylene, homosalate or octisalate. There has been a history of allergic occurrences caused by the chemical’s stabilizer octocrylene. The limitations of avobenzone do not restrict to only skin allergies but also the cases of hormone disruption were noticed after the breakdown of the chemical. The free radicals released in the skin accelerate the ageing process and also increase the risk of cancer.
Avobenzone, as the chemical used for blocking the UVA rays in combination with its stabilizers, has a popular alternative in the market. Zinc oxide, an important mineral used in physical or mineral sunscreens is proved to cause no side effect and is also coral safe. With the increasing concern for marine life among the population, the emerging mineral sunscreens are garnering huge favour and acceptance from the users. Dermatologists are convincing patients to adopt mineral sunblocks that reflect UV rays instead of avobenzone sunscreens that may cause serious health issues.
COVID-19 Impact Insights
Covid-19 pandemic has negatively affected every aspect of life and Industries globally. The global avobenzone market is also affected due to several restraining factors such as unavailability of man force, non-operational manufacturing units in lockdown, scarcity of materials, financial constraints and others. Due to lower demand in the cosmetic sector in lockdown, several sunscreen ingredient markets are shuttered in certain regions. There was sluggish demand for the sun protection products in North America and some countries of Europe.
However, in countries like Indonesia, China, Japan and some Asian countries the demand for avobenzone remained intact. This was encountered due to the elevating awareness of the use of sunscreens indoors and especially in front of desktops or laptops while working from home. Furthermore, it was also observed that shifting of consumer’s preference towards natural ingredients may also affect the CAGR of avobenzone market on a large scale.
Manufacturers are now strategizing in a way of adjusting purity levels with external solvents in order to save costs, although not compromising the health of customers. Considering the covid-19 market, Fact.MR gives the detailed global market analysis of avobenzone market.
“During the forecast period, the avobenzone is geared to expand positively. However, sales are foreseen to witness a decline in 2020 due to the effects of the COVID-19, but the prospects of resumption of manufacturing operations continue to boost the avobenzone market”
Segmentation Analysis of Avobenzone Market
The global avobenzone market is bifurcated into three major segments: Available purity, Application, Companies and global split.
Based on the available purity, avobenzone market is segmented as follows:
- Less than 98%
- More than 99%
Based on Applications, avobenzone market is segmented as follows:
- Cosmetics and Personal Care
Based on a global split, avobenzone market is segmented as follows:
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
Avobenzone Market Insights by Application
Health care and personal care industries are using the products of avobenzone chemical to protect skin from toxic agents like other inorganic chemicals. UVA rays are harmful rays which attack directly from the sun and later responsible for the skin cancers, early ageing and wrinkles etc. With the increasing diseases and inorganic chemicals, avobenzone is changed as the alternative for the chemicals with fewer side-effects. With the changing global trends, these chemicals come into market under various brand names by key players.
Avobenzone Market: Region-wise Outlook
North America and Europe collectively claim for over half of the avobenzone market share. North America’s avobenzone market may witness an increase because of the growing per capita spending on cosmeceutical products. U.S manufacturing and supply markets are also increasing by their technological advancements and market strategies. The U.K is the highest producer of skin care products in the market by its historic achievements and long-lasting career.
East Asia’s avobenzone market is set to rise in the forecast period, owing to the increasing demand for products with anti-ageing and anti-tan properties. The increasing concern of diseases and illness caused by the exposure under the sun is the key decisive factor for the growth of avobenzone in the Middle East and African regions. However, these regions occupy a minimal share of the mentioned market. Key players are targeting the customers by considering all the seasonal markets globally.
Avobenzone Market: Key players
Below are some key players pertaining to avobenzone market:
- Underwriters Laboratories (UL)
- Chromservis s.r.o.
- Dermtek Pharmaceuticals Ltd
- LGC Limited
The global key players of avobenzone market have entered into the markets by their remarkable success and the global history. Abcam, Adina, Underwriters Laboratories (UL), Chromservis s.r.o., Dermtek Pharmaceuticals Ltd and LGC Limited are some of the key manufacturers in the avobenzone markets. A blend of organic and inorganic strategies is witnessed in the market as players have come up with capacity expansion and acquisitions at the same time.
The rise in the per capita spending on cosmetics and beauty products in the regions of East Asia and South Asia markets has led to major demand in the production of sunscreens with avobenzone. Moreover, the presence of key players in the European regions depict the popularity of avobenzone in the anti-tanning products, marking its growth among the users during the forecast period.
The research report presents a comprehensive assessment of the avobenzone market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The avobenzone market report provides analysis and information, according to market segments such as geographies, product type, material type and end-use.
The Avobenzone Market Report Covers Exhaustive Analysis On:
- Avobenzone Market Segments
- Avobenzone Market Dynamics
- Avobenzone Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Avobenzone Market Regional Analysis Includes:
- North America (U.S., Canada)
- East Asia (China, Japan, South Korea)
- Europe (UK, Germany, Spain, France, BENELUX, Italy, Rest of Europe)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand, Rest of South Asia & Oceania)
- The Middle East and Africa (GCC Countries, South Africa, Northern Africa, Turkey, Rest of MEA)
The avobenzone market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Phase change material report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The avobenzone market report also maps the qualitative impact of various market factors on market segments and geographies.
The Avobenzone Market Report Highlights:
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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