The global sales of bio-based coolants market is currently valued at US$ 1.16 billion and is predicted to increase in size at a CAGR of 3.2% to reach a market valuation of US$ 1.6 billion by the end of 2032. Revenue from the sales of bio-based coolants accounted for 21.5% share of the global coolants market at the end of 2021. Download Free Sample Copy of This Report: https://www.f...
Oxybenzone Market: Overview and Dynamics
Oxybenzone belongs to the category of aromatic ketones known as benzophenones. Oxybenzone is a chemical naturally present in some flowering plants, but it is produced commercially from benzoyl chloride and 3-hydroxyanisole (1, 2). Oxybenzone is a derivative of benzophenone, which is used as a sunscreen agent due to its ability to absorb UVB and short-wave UVA Ultraviolet rays, acting as a filter and minimize skin damage caused by UV rays.
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One of 16 sunscreen active ingredients (compounds that absorb, diffuse or reflect ultraviolet (UV) radiation) allowed for use in the United States is Oxybenzone (also known as benzophenone-3 or BP-3). The U.S. controls sunscreens as over-the-counter (OTC) drugs via its Food and Drug Administration (FDA). As an FDA approved active ingredient, Oxybenzone finds its uses in sunscreen and is proven to be safe and effective when used in concentrations up to 6%.
Segmentation Analysis of Oxybenzone
The global Oxybenzone market is bifurcated into three major segments:
Based on End Use, Oxybenzone market has been segmented as follows:
- Lip Balms
- Hair Spray
Based on Source, Oxybenzone market has been segmented as follows:
Based on Function, Oxybenzone market has been segmented as follows:
- UV Filter
- UV Stabilizer
Based on Region, Oxybenzone market has been segmented as follows:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East and Africa
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Oxybenzone Market: Key Players
Being a moderately consolidated market, players have a dominant presence across regions through streamlined distribution networks. ATK Chemical, Hubei Meikai Chemical, Ash Longchem, Dallion Richfortune Chemicals, Kunshan Odowell, Wellona Pharma, Salicylates And Chemicals, Salavidas Pharmaceutical etc. are amongst the prominent players in Oxybenzone market accounting for over 60% of the market revenues.
Furthermore, certain players are investing in research and development activities related to the changing consumer demand towards organic and plant based Oxybenzone products. Manufacturing and establishing long term supply contracts with the industries and are providing an upper edge to the market players.
However, regional clusters in the Asia-Pacific region backing the local manufacturers are presenting challenges to global players offering their products at higher price points which in turn is significantly disturbing the overall Oxybenzone market revenues.
The Oxybenzone Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
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