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Homosalate Market Size to Hit USD 197.6 Million by 2030 at 6.3% CAGR – Report by Market Research Future (MRFR)

Market Research Future
Market Research Future

Homosalate Market Insights and Industry Analysis by Purity (less than 98% and more than 98%), by application (cosmetics, pharmaceuticals, and others) and Region, Competitive Market Size, Share, Trends, and Forecast to 2030

New York, USA, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Homosalate Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Homosalate Market Information by Purity, Application, and Region - Forecast till 2030”, the market is estimated to grow at a 6.3% CAGR to reach USD 197.6 Million by 2030.

Market Synopsis

Homosalate, an organic substance that is a member of the salicylates chemical family, protects the skin from the sun's damaging rays by specifically absorbing the short-wave UVB and UVA rays that are linked to DNA damage and an increased risk of skin cancer.

The coming years can expect to see a considerable growth rate for the global market for homosalate. The homosalate market will benefit from the expanding use of homosalate in the manufacture of sunscreens and other protective coatings to filter UV radiation. Additionally, it is anticipated that the global market would be driven by the rising use of homosalate in the cosmetics sector.

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Report Scope:

Report Attribute

Details

Market Size in 2030

USD 197.6 Million

CAGR

6.3% (2022–2030)

Base Year

2021

Forecast Period

2022–2030

Historical Data

2020

Forecast Units

Value (USD Million)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Purity, Application, and Region

Geographies Covered

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Key Market Drivers

Increasing demand for personal care products and cosmetics

Increasing demand for pharmaceuticals

Market Competitive Landscape:

The important companies in the homosalate industry are

  • Spectrum Chemical Manufacturing Corporation

  • Hongda Group

  • Yue Yang Dong Run Chemical

  • Ampak Company

  • ATK Chemical

  • Natural micron chem tech

The homosalate market has recently experienced strong demand from a variety of end-use industries, including the automotive, building, and electronics industries. Due to the small number of market participants globally, there is still little competition among them. The homosalate market is dispersed throughout the world. Homosalate market growth is being fueled by the players in the industry using a variety of strategies, including partnerships, joint ventures, and product launches.

August 2022

The debut of Vitamin E Vitalizing Sunscreen SPF 50+, which satisfies the criteria for broad-spectrum protection, has been announced by derm skin care company COSRX. According to the business, it closely collaborated with dermatologists to create a brand that caters to each individual's skin concerns. To protect all skin types, especially sensitive skin, this daily sun protector was created using chemical-based SPF components and vitamin E (tocopherol).

Some of the main ingredients in the product include Homosalate (9%), Diphenylsiloxy phenyl trimethicone, Avobenzone(2.5%), Octisalate(4.5%) Water/Aqua/Eau, Octocrylene (9%), Butyloctyl salicylate, Propanediol, and more.

Market USP Covered:

Market Drivers:

The most common reason behind the increased use of skin care products is the rise in sunburn and skin cancer, in turn leading to a surge in the demand for homosalate. It is a solubilizer found in moisturizers, foundations, sunscreens, and other products. Even though homosalate has been linked to endocrine disruption in some studies, it has not yet undergone thorough peer reviews to receive the demand-disrupting attention it merits.

Young adults and members of generation Z have shown a strong interest in sun care products with anti-aging and SPF benefits, which has accelerated the growth of the sunscreen industry and, as a result, helped to fuel the rise of the homosalate market.

Most cosmetic manufacturers have taken it on as a challenge to not only limit the amount of homosalate being used in facial products to 0.5% but also retain the benefits offered by the product's usage in the first place, collaborations and R&D being conducted by manufacturers to reduce the concentration of homosalate in cosmetic products are poised to create a demand for homosalate. Due to its use as a mixing factor in conditioners and treatment formulas, homosalate cosmetic ingredient utilization in hair care products has also increased.

Market Restraints:

The hormone systems of the body can be affected by homosalate, particularly the estrogen system. Homosalate exposure causes 3.5 times greater cell growth and multiplication in human breast cancer cells, which respond to estrogen by growing and multiplying. Short-wave UVB photons, which are linked to DNA damage and an elevated risk of skin cancer, are especially absorbed by homosalate.

Browse In-depth Market Research Report (110 Pages) on Homosalate https://www.marketresearchfuture.com/reports/homosalate-market-11045

COVID 19 Analysis

The COVID-19 outbreak had a significant effect on the worldwide market for homosalate. Due to the pandemic scenario, several countries had to go into lockdown in order to contain the rising number of cases. As a result, the demand and supply chains have been disrupted, which has had an effect on the global market. Numerous businesses, manufacturing facilities, and infrastructure projects had to be suspended as a result of the pandemic crisis.

Raw material prices changed as a result of COVID-19, slowing the growth of the worldwide market. On the good side, things are starting to settle down again, which is encouraging for future market expansion. The creation of vaccines to protect against the new coronavirus as well as the reactivation of numerous production facilities throughout the globe would result in the full-scale operation of the global market.

Market Segmentation

By Purity

Less than 98%: Homosalates with a purity of less than 98% are transparent liquids that range in color from colorless to pale yellow and have a molecular weight of 344 g/mol. Widespread usage of homosalate can be found in typical sunscreen formulas.

Greater than 98%: Pharmaceuticals employ homosalates in excess of 98% of the time. In the creation of common shampoo, body lotion, anti-aging creams, and treatments for acne.

By Applications

Cosmetics: Homosalate is a component used in sunscreen product composition. Some lipsticks, skincare products, and eyebrow pencils also contain them. Homosalate is primarily used as a component in sunscreen to shield the skin from UV radiation. UV-induced sun damage increases the risk of skin malignancies including melanoma and premature aging.

Pharmaceuticals: Homosalate is a common ingredient in body lotion, soap, anti-aging creams, acne creams, hair dyes, and shampoo. It is also used to make pesticides, hypnotic drugs, and other medications.

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Regional Insights

With a strong growth rate during the projected period and mounting demand from the cosmetics industry, North America is anticipated to head the homosalate market.

The European market for homosalate can grow steadily in the years to come owing to the pharmaceutical industry's stunning expansion and the growing demand for skincare products.

Asia Pacific's expanding pharmaceutical industry, fueled by medicinal advancements has raised the demand for homosalate. Additionally, as additional nations, like China and India, raise their efforts in expanding and bolstering their pharmaceutical and cosmetic industries, it is projected that the homosalate market in the Asia-Pacific region would expand.

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