Octocrylene Market Pegged For Robust Expansion During 2021-2031

Posted on 2022-01-12 by Future Market Insights, Inc in Chemicals // 0 Comments

Octocrylene : Overview and Dynamics

Octocrylene is an organic compound used in sunscreens and cosmetics as an ingredient. It is an ester that is formed by the chemical reaction of 3, 3-diphenylcyanoacrylate with 2-ethylhexanol. Octocrylene is a viscous, colorless, sticky, clear liquid.

It serves as a protective compound against UV radiation in the skin and it also protects against direct damage to DNA. Sun-emitted UV radiation can be neutralized and skin damage caused by longer sun exposures can be mitigated by the application of sunscreens with Octocrylene as ingredient.

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Octocrylene is an oil-soluble, sunscreen chemical that protects skin from UVB and UVA II with a peak absorption capacity of 304 nm. Its protection is not good enough on its own, but it is very photo-stable (loses only 10 percent SPF protection in 95 minutes) and is typically used for stabilizing other photo-unstable UV filters such as Avobenzone. It also aids in improving the water resistance of the final products.

Octocrylene has been reviewed by the Food and Drug Administration (FDA) and allowed to use it as an active ingredient in Over-the-counter (OTC) sunscreen medicaments at concentrations up to 10%.

As an FDA approved active ingredient, Octocrylene finds its uses in sunscreen and is proven to be safe and effective when used in concentrations up to 10%. Moreover, in Canada, Octocrylene is permitted to be used in concentrations up to 12%.

Moreover, Octocrylene has extensive market penetration in personal care and pharmaceutical industries. Over the past half-decade market has observed a higher single digit growth rate and maintained a positive stance in personal care industry.

In FY2020, companies channeling the product have a faced a huge dismay owing to the demand contraction from the personal care industries. All in all, normalization of the consumer habits is set to provide a domino effect to the personal care industry which further acts on Octocrylene market.

Over the medium-term, Companies are set to experience greater demand from the Asia Pacific due to diverse consumer behavior and purchase habits over personal care products.

This phenomena is set to shift the overall supply chain towards the region to reap the economies of density benefits over long-run. Owing to the aforementioned factors, personal care industry growth is set to bolster the demand for the Octocrylene market.

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Segmentation Analysis of Octocrylene Market

The global Octocrylene Market is bifurcated into four major segments: application type, purity, end use, and region.

On the basis of application type, Octocrylene market has been segmented as follows:

Moisturizers
Sun care
Cosmetic products
Others

On the basis of purity, Octocrylene market has been segmented as follows:

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On the basis of end use, Octocrylene Market has been segmented as follows:

Personal Care
Pharmaceuticals
Others

On the basis of geographic regions, Octocrylene Market is segmented as

North America
Europe
Latin America
East Asia
South Asia and Oceania
Middle East & Africa

Octocrylene Market: Regional Outlook

Based on the regional split, the report “Octocrylene Market” takes into account six prominent regions including North America, Europe, Latin America, East Asia, South Asia and Oceania and Middle East & Africa.

The Asia Pacific held the small share in the global market for Octocrylene at this point in time but there is huge potential in this market due its demographics and shift in consumer behavior which resulted in high expenditure in personal hygiene.

North American region accounts for most of the demand in this market. The consumption rate is higher due to increase awareness about skin diseases and high expenditure on personal hygiene.

Europe is expected to be the second-largest market for Octocrylene. Companies expect huge demand from countries in the tropical region due to the climatic condition in this region makes the products a more viable option.

Owing to the ever growing per capita income of developing countries and increasing awareness of consumers towards personal hygiene and personal protection, market is poised to experience spurts in demand from developing economies in Asia-Pacific region with growing number of millennials opting to use personal care and cosmetic products.

However, there has been certain studies in the recent times linking Octocrylene to damage caused to oceanic organisms, which though is debatable in nature has formed the basis of certain governments passing laws to prohibit the sale of Octocrylene containing products, to preserve coral reefs.

As per numerous research studies, about 14,000 tons of sunscreens find its way to oceans, particularly sunscreen chemicals shed by swimmers. In lieu of the above findings, Hawaii State Legislature passed a bill prohibiting the sale of non-prescribed sunscreen which has chemicals linked with damaging coral reefs, and is supposed to come into effect from 1^st January, 2021.

Octocrylene Market: Key Players

Octocrylene market seems to be a highly consolidated market. Big players in the market account for more than 60% of the overall market demand. The major market players in Octocrylene Market are Frutarom Ltd, Abbott, Becton Dickinson, Fujirebio, Hologic, Exact Sciences, ID Biomedical, Himalaya, Novacap.

Companies are following organic strategies like expansion, companies are moving to developed countries by setting up their plants. Companies expect that they will be able to leverage the bigger population, growing middle class and increased health awareness among the younger generation in developing countries.

However, certain restriction on cosmetic products containing chemicals which harms the oceanic organisms, effects the balance sheet of these companies as they will have to spend in research and development again so as to verify the above mentioned claims and come up with modified products which removes the banned ingredient, but retains the effect it had in the product.

The research report presents a comprehensive assessment of the Octocrylene 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 Octocrylene Market report provides analysis and information, according to market segments such as geographies, product type, material type and end-use.

For More Insights- https://www.einpresswire.com/article/556865366/higher-demand-for-renewable-products-will-increase-the-market-for-bio-based-propylene-glycol-over-the-forecast-period

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