UV Filter Market to Grow on Back of the Rise of Inorganic Filters; Market is set to Rebound Post Q4 of FY2020, Says Fact.MR
The demand for UV filter market is estimated to surpass the evaluated market value of US$ 607 Mn in 2020 and is set to create an absolute dollar opportunity of US$ 600 Mn during the long-run forecast period (2020-2030). Demand for UV filter is anticipated to grow at a CAGR of around 7.2% over 2020-2030. UV filters are key component to personal care products which provide SPF function to the product. Of the filter types channeled in the market, organic is set to capture the majority of the market share owing to such UV filter integration in formulating majority of the products such as creams, gel, lotion, powder, wipes and spray.
In the past half-decade, majority of the manufacturers have started utilizing inorganic filters which has led to the normalization of the prices. This segment is set to grow at rapid pace compared to the organic filter owing to the opening of gates by European Union for titanium dioxide nanoparticles and zinc oxide nanoparticles utilization in formulating bundle of personal care products.
“Market leaders are facing the barrier of double marginalization to channel the products across North America and Europe” says a Fact.MR analyst.
UV filter market is highly fragmented with key players such as BASF, Symrise AG, Koninklijke DSM N.V., Ashland, Sunjin Beauty Science Co. Ltd., Croda International PLC, Salicylates and Chemicals Pvt. Ltd. and MFCI CO., LTD. Key firms positioned in Europe and North America have positioned their production of majority of UV filters production in East Asia only to support economies of density and to reduce the marginal cost of the product and to enhance the mark-ups in the region.
Fact.MR, in its new offering, presents an unbiased analysis of the global UV filter market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the UV filter market on the basis of type [organic (PABA, Salicylates, Cinnamates, Benzophenones, Triazine and Triazole derivatives, dibenzoyl derivatives, Benzimidazole sulfonic acid derivatives, Camphor derivatives, Anthranilates, Polysilicone-15), Inorganic (Titanium Dioxide, Zinc Oxide)], SPF (SPF 6-14, SPF 15-30, SPF 31-50, SPF 50+), Formulation (Creams, Gel, Lotion, Powder, Wipes, Spray and others) and across six major regions.
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