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 @ https://www.researchcosmos.com/reports/uv-absorbers-market/1840653197
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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